Palo Duro Energy closes acquisition of oil and gas properties in Texas

On May 25, 2007, Palo Duro Energy Inc. (formerly Centillion Industries Inc.) announced that it had, through its wholly-owned subsidiary, Palo Duro Operating (US), Inc., successfully completed its previously announced acquisition of 27% of all of Bankers Petroleum (US) Inc.'s right, title and interest in certain oil and gas properties located in the Palo Duro Basin, Texas, together with certain rights and related assets.

Palo Duro was advised in this transaction by Iain Mant, Melody Schalm and Benjamin Lee of Fasken Martineau.