Petrolera Cerro Negro S.A. signed a non-binding memorandum of understanding to acquire Centenary International Corp. (OTCBB: CTYI) in a reverse merger transaction on September 22, 2009. As reported under the terms of the transaction, Centenary International will issue 2,129,870 shares of its common stock as consideration. In addition, Oil m&s S.A. will provide loan to Petrolera Cerro Negro to comply with a Development Program which provides for the drilling of 11 wells. Oil m&s S.A. may, at its option, elect to convert the balance of the loan to 2,129,870 new shares of Centenary common stock following completion of the wells. The transaction is subject to signing of a definitive acquisition agreement and number of conditions and legal regulations. The acquisition is expected to complete on or before December 31, 2010.

Petrolera Cerro Negro S.A. cancelled the acquisition of Centenary International Corp. (OTCBB: CTYI) in a reverse merger transaction on May 11, 2015.