Centric Energy Corp.: Exploration Stay Order Lifted on Kenya Block 10BA

LONDON, ENGLAND -- (Marketwire - Nov. 16, 2010) - Centric Energy Corp. ("Centric Energy" or "the Company") (TSX VENTURE: CTE) is pleased to announce that the Kenyan High Court has agreed, subject to certain conditions, to lift the Stay Order which had halted exploration activity on the Company's Block 10BA in northwest Kenya.

A scheduled hearing was held at the High Court in Kitale, Kenya, on November 16th. The proceedings concern an application filed by Interstate Petroleum Ltd ("the Applicant") against the Permanent Secretary, Kenyan Ministry of Energy seeking a judicial review of the administrative process that led to the issuance of alleged exploration permits in respect of six blocks in northwest Kenya. In actual fact the Ministry had granted six petroleum agreements including the Company's PSC covering Block 10BA. This Application resulted in Centric Energy, among others, being named as an "interested party" to the proceedings.

The result of the hearing on November 16th is that the Court has agreed to lift the previously-granted Stay Order which had been halting exploration on Block 10BA subject to the Company agreeing to compensate the Applicant for any resulting loss it may incur. The Court has set a date of December 16th, 2010, for issuing a final ruling on the case.

The Ministry of Energy has previously advised the Company that it can carry on with its work program and that its PSC remains in good standing.

"Centric Energy is very pleased that the Stay Order is being lifted so that exploration activity will be able to continue. We look forward to having this matter finally resolved on December 16th, 2010," stated Alec Robinson, Centric Energy President & CEO. "We believe that there is no basis for the claims that IPL is making against the Permanent Secretary, Ministry of Energy, and understand that both the Permanent Secretary and the Ministry of Energy share this view."


ON BEHALF OF CENTRIC ENERGY CORP.

Alec Robinson
President and Chief Executive Officer



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For more information, please contact

Centric Energy Corp.
Alec E. Robinson
+44 207 222 8512 or Toll Free: +1 (800) 962-7189
www.CentricEnergy.com