Century Petroleum Corp.
CYPE
Other OTC0.00
USD
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Century Petroleum Corp.
CYPE
(Other OTC)
Recent
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ROIC.AI
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- Business
- Century Petroleum Corp. (CYPE) is an oil and gas exploration and production company engaged in the acquisition, exploration, development, and exploitation of oil and gas properties, primarily in the southern United States, including prospects such as Thunder Stud in Calcasieu Parish, Louisiana; Shadyside Farm in St. Mary Parish, Louisiana; Alligator Bayou in Matagorda and Brazoria Counties, Texas; and El Grande and Hickory Branch in Beauregard Parish, Louisiana. Founded in 2001 and headquartered at 115 Odoh Ibeto Road, Port Harcourt, Nigeria, the company operates in the upstream segment of the energy sector, targeting domestic hydrocarbon basins to build shareholder value through geological surveys, drilling, and well completion activities. In 2018, Century Petroleum completed a reverse merger with Nigeria-based Ibeto Cement Company Limited, a subsidiary of The IBETO Group, under which Ibeto acquired a 70% controlling stake, leading to replacement of directors and officers with Ibeto nominees, issuance of super-voting shares to founder Dr. Cletus M. Ibeto, and a proposed name change to Ibeto Cement International Corporation, though the ticker remains CYPE with ongoing listings describing cement manufacturing, import, and bagging operations alongside petroleum activities. The company, led by CEO Erroll A. Booker and Chairman Dr. Cletus Madubugwu Ibeto, maintains a minimal market capitalization and has reported no recent funding rounds, acquisitions, product launches, or operational expansions since the merger.