Centennial Energy Partners: Announcement

NEW YORK, NEW YORK--(Marketwire - Jan. 20, 2009) - Centennial Energy Partners, L.P., Hoyt Farm Partners, L.P., Quadrennial Partners, L.P., Centennial Energy Partners V, L.P., Centennial Energy Partners, L.L.C., and Peter K. Seldin (collectively the "Reporting Persons") announce that they today acquired 124,000 Class A Shares of Galleon Energy Inc. (TSX:GO.A) through the facilities of The Toronto Stock Exchange. Centennial Energy Partners, L.L.C. is the General Partner of Centennial Energy Partners L.P., Hoyt Farm Partners, L.P., Quadrennial Partners, L.P and Centennial Energy Partners V, L.P. Mr. Seldin is the Managing Member of Centennial Energy Partners, L.L.C.

The purchase by the Reporting Persons of Class A Shares of Galleon Energy Inc. is for the purpose of investment. As a result of their normal course purchases, the Reporting Persons currently own in the aggregate 14,074,500 Class A Shares of Galleon Energy Inc., representing 19.2% of the issued and outstanding Class A Shares. The Reporting Persons may continue to purchase shares of Galleon Energy Inc. for investment purposes, depending on the market conditions for shares of Galleon Energy Inc. and other factors.