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CenGroup Petroleum Corporation, An Oil Recovery Company, Opens Offices In Azerbaijan

Posted on: Tuesday, 14 November 2006, 09:00 CST

CenGroup Petroleum Corporation (Pink Sheets:CPCO), an international oil recovery company is pleased to announce the opening of Corporate Offices at 106 Nobel Prospect in Baku, Azerbaijan. The Company has also acquired a facility to house the sorbent manufacturing plant, field operation equipment and storage.

FOLLOW OUR PROGRESS: We invite you to log onto our newly launched website at www.cengrouppetroleumcorp.com for Corporate updates.

"Phase 3 of the business plan is in full swing," said CenGroup CEO, Major Neville Trevor, from his Baku office, "Putting the plan into action to reclaim a precious resource while improving the environment are great goals. In other words, while making a profitable enterprise from oil cleanup and recovery we will be restoring the environment in this devastated area. We will be doing well while doing good."

CenGroup also announced the appointment of AzExpert Law Firm, as the Company's local legal representation in Azerbaijan. The Company chose AzExpert Law Firm because of their expertise in contract negotiations in the Caspian Sea Region. [The firm and their Director, Ayyubzadeh Fuad (known as "Fuad"), can be reached at phone +994 12 493 8551, fax +994 12 493 8521, azekspertlawfirm@yahoo.com.]

About CenGroup Petroleum Corporation

CenGroup Petroleum Corporation (Pink Sheets: CPCO) was developed to take advantage of an opportunity to recover surface oil in the Caspian Sea Region. Over the past five years the Company has singularly positioned itself in this lucrative region by developing relationships within the Azerbaijan government. It has been estimated that there are approximately 250 million barrels of surface oil lying on water and land in the Caspian Sea Region, with nearly 1 million new barrels of oil leaking to the surface each year. CenGroup is working with the government of Azerbaijan to reclaim the oil to productive use while environmentally restoring the land, sea, and shore.

This release contains "forward-looking" statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These are statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "may,""will,""expects,""projects,""anticipates,""estimates,""believes,""intends,""plans,""should,""seeks," and similar expressions. Forward-looking statements involve known and unknown risks and uncertainties that may cause actual future results to differ materially from those projected or contemplated in the forward-looking statements. Forward-looking statements may be significantly impacted by certain risks and uncertainties described in CenGroup' filings with the Securities and Exchange Commission.

The risks and uncertainties referred to above include, but are not limited to, our relatively limited operating history, our ability to hire, retain and motivate our employees and manage our growth, competition, our ability to continue to release and gain customer acceptance of new and improved versions of our service, successful customer deployment and utilization of our services, fluctuations in the number of shares outstanding, foreign currency exchange rates and interest rates.

Source: Business Wire

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