May 29, 2018 - 12:13 PM EDT
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The New Chairman of Century Petroleum Appoints a New Chief Executive Officer

NEW YORK, May 29, 2018 (GLOBE NEWSWIRE) -- Century Petroleum Corp (OTC Pink:CYPE) (“CYPE” or the “Company”) is pleased to announce that its Chairman, Dr. Cletus M. Ibeto, has appointed Erroll A. Booker as the new Chief Executive Officer.

As announced on May 25, 2018:

On May 24, 2018, Mandla J. Gwadiso resigned as our Chief Executive Officer, Chief Financial Officer, President, Director, Secretary, and Treasurer. The resignation was not the result of any disagreement with us on any matter relating to our operations, policies or practices. On May 25, 2018, Dr. Cletus M. Ibeto was appointed as our new Chairman of the board of directors.

Dr. Cletus M. Ibeto, Chairman of Century Petroleum Corp, stated thus: 

"I am extremely excited to have acquired Century Petroleum Corp and, having taken over the reins as the new Chairman of the Board of Directors of the company with the greatest sense of responsibility, this will enable me to put together teams that will help grow the company and propel it, and also members of the board that will help me breath life into what Century Petroleum will ultimately become.

The appointment of the new CEO in the person of Erroll A. Booker, who will also function as a member of the Board of Directors, is well thought-out and I have no doubts that he will contribute to the accomplishment of the strategic objective which underlies the acquisition of Century Petroleum.

For me, this is a legacy I am building for generations to come. Century Petroleum Corp is the vehicle I plan to use as a catalyst of empowerment for me and other people all over the world as the shares of the company will be traded internationally."

Erroll A. Booker, Chief Executive Officer of Century Petroleum Corp, also stated “It is my privilege to serve as Chief Executive Officer at Century Petroleum. I am confident that over the coming months, with Dr. Ibeto at the helm, Century Petroleum will expand beyond West Africa and become a dominant force throughout the African continent.”

Mr. Erroll A. Booker, Age 70 - Chief Executive Officer, Chief Financial Officer, President, Director, Secretary, and Treasurer.

Erroll is the managing director of Telecommunications at Milost Global Inc. He is responsible for global acquisitions, investments, development and the management of the Telecommunications portfolio. He has been involved in various areas of telecommunications over the past thirty years. He began his career as a marketing manager with Pacific Telephone (pre-divestiture AT&T subsidiary) where he was responsible for voice and data communications hardware and software. As a national accounts manager this involved coordinating and implementing strategies throughout the United States.

This led to working in sales and marketing at Wang Laboratories and later to co-founding Global Network Providers that was an early entry into the newly deregulated international wholesale carrier industry. During this period, Global Network Providers achieved worldwide termination and also supplied carrier services to major tier 1 carriers.

This in turn led to co-founding Claviger Corporation that worked closely with emerging economies in Africa and Asia developing and implementing such services as voice, data, fax and video across civil and military applications. We specialized in proprietary central office exchange and billing technology designed specifically for emerging economies. Claviger was successful in working with the governments of Sierra Leone and Bangladesh insuring a smooth telecommunication privatization transition.

Erroll received a BSc degree in business management from the State University of New York at Buffalo.

ABOUT CENTURY PETROLEUM CORP.

Century Petroleum Corp. is an oil and gas exploration and production company. The Company is engaged in the acquisition and exploration of oil and gas properties with a view to exploiting any oil and gas reserves it discovers. The Company has interests in the Thunder Stud Prospect, located in Calcasieu Parish, Louisiana; the Shadyside Farm Prospect, located in St. Mary Parish, Louisiana; the Alligator Bayou Prospect, located in Matagorda and Brazoria Counties, Texas, and the El Grande and Hickory Branch Prospects, located in Beauregard Parish, Louisiana.

Forward-Looking Information: 

Cautionary Note:

The statements in this press release constitute forward-looking statements within the meaning of federal securities laws. Such statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, such forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Potential risks and uncertainties include, but are not limited to, technical advances in the industry as well as political and economic conditions present within the industry. We do not take any obligation to update any forward-looking statement to reflect events or developments after a forward-looking statement was made.

For more information: 
Tel:+1-212-709-8206
Fax:+1-212-943-2300

Source: GlobeNewswire (May 29, 2018 - 12:13 PM EDT)

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