UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549



FORM 10-Q



|x | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|- | ---------------------------------------------------------------------------------------



For the Quarterly Period Ended June 30,
2012



or



| ̈ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|- | ----------------------------------------------------------------------------------------



For the transition period from ______
to ______



Commission File Number 0-23851



Centenary
International Corporation



(Exact name of registrant as specified in
its charter)



|NEVADA                          | 90-0294913         
|------------------------------- | -------------------
|(State or other jurisdiction of | (I.R.S. Employer   
|incorporation or organization)  | Identification No.)





Av. Roque Saenz Pena 971– 8
Piso, (C1035AAE) Buenos Aires, Argentina

(Address of principal executive offices)
                                            (Zip Code)



(011-5411) 4328-3996

(Registrant’s telephone number)



Indicate by check mark whether the registrant:
(1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding
12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes    x No  ̈



Indicate by check mark whether the
registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to
be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months
(or for such shorter period that the registrant was required to submit and post such files). Yes   x
No  ̈



Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions
of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2
of the Exchange Act.



|Large accelerated filer  ̈                                                 | Accelerated filer  ̈        
|------------------------------------------------------------------------- | ---------------------------
|                                                                          |                            
|Non-accelerated filer    ̈   (Do not check if a smaller reporting company) | Smaller reporting company x



Indicate by check mark whether the
registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes x
No  ̈



APPLICABLE ONLY TO CORPORATE ISSUERS



State the number of shares outstanding of
each of the issuer's classes of common stock, as of the latest practicable date.



|Class                          | Outstanding as of August 13, 2012
|------------------------------ | ---------------------------------
|Common Stock, $0.001 par value | 576,682                          













TABLE OF CONTENTS



|Heading                         |                                                                       | Page
|------------------------------- | --------------------------------------------------------------------- | ----
|                                |                                                                       |     
|PART  I – FINANCIAL INFORMATION
|                                |                                                                       |     
|Item 1.                         | Financial Statements                                                  | 3   
|                                |                                                                       |     
|                                | Balance Sheets – June 30, 2012 (unaudited) and December 31, 2011      | 4   
|                                |                                                                       |     
|                                | Statements of Operations – three months and six months ended June 30, |     
|                                | 2012 and 2011 and the period from inception of the development stage  |     
|                                | on January 1, 2000 to June 30, 2012 (unaudited)                       | 5   
|                                |                                                                       |     
|                                | Statements of Cash Flows – six months ended June 30, 2012 and         |     
|                                | 2011 and the period from inception of the development stage on        |     
|                                | January 1, 2000 to June 30, 2012 (unaudited)                          | 6   
|                                |                                                                       |     
|                                | Notes to Financial Statements                                         | 7   
|                                |                                                                       |     
|Item 2.                         | Management's Discussion and Analysis of Financial Condition and       | 9   
|                                | Results of Operations                                                 |     
|                                |                                                                       |     
|Item 3.                         | Quantitative and Qualitative Disclosures About Market Risk            | 14  
|                                |                                                                       |     
|Item 4.                         | Controls and Procedures                                               | 14  
|                                |                                                                       |     
|PART II – OTHER INFORMATION    
|                                |                                                                       |     
|Item 1.                         | Legal Proceedings                                                     | 14  
|                                |                                                                       |     
|Item 1A.                        | Risk Factors                                                          | 14  
|                                |                                                                       |     
|Item 2.                         | Unregistered Sales of Equity Securities and Use of Proceeds           | 14  
|                                |                                                                       |     
|Item 3.                         | Defaults Upon Senior Securities                                       | 14  
|                                |                                                                       |     
|Item 4.                         | Mine Safety Disclosures                                               | 14  
|                                |                                                                       |     
|Item 5.                         | Other Information                                                     | 14  
|                                |                                                                       |     
|Item 6.                         | Exhibits                                                              | 15  
|                                |                                                                       |     
|                                | Signatures                                                            | 16  





2







PART I – FINANCIAL INFORMATION



Item 1.	Financial Statements



The accompanying balance sheets of Centenary International
Corporation at June 30, 2012 and December 31, 2011, and the related statements of operations for the three and six months ended
June 30, 2012 and 2011 and the period from inception of the development stage on January 1, 2000 through June 30, 2012, and the
related statements of cash flows for the six months ended June 30, 2012 and 2011 and from inception of the development stage on
January 1, 2000 through June 30, 2012 have been prepared by management in conformity with United States generally accepted accounting
principles. In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations
and financial position have been included and all such adjustments are of a normal recurring nature. Operating results for the
period ended June 30, 2012, are not necessarily indicative of the results that can be expected for the fiscal year ending December
31, 2012.

3









Centenary International Corporation

(A Development Stage Company)

Balance Sheets





|ASSETS                                            
|--------------------------------------------------
|                                                  
|                                                  
|                                                  
|                                                  
|CURRENT ASSETS                                    
|                                                  
|Cash                                              
|Prepaid expenses                                  
|                                                  
|Total Current Assets                              
|                                                  
|TOTAL ASSETS                                      
|                                                  
|                                                  
|LIABILITIES AND
    STOCKHOLDERS' DEFICIT         
|                                                  
|CURRENT LIABILITIES                               
|                                                  
|Accounts payable                                  
|Accrued interest payable - related parties        
|Notes payable - related parties, net              
|                                                  
|Total Current Liabilities                         
|                                                  
|STOCKHOLDERS' DEFICIT                             
|                                                  
|Common stock; 50,000,000 shares authorized,       
|at $0.001 par value, 576,682 and 576,682 shares   
|issued and outstanding, respectively              
|Additional paid-in capital                        
|Deficit accumulated prior to the development stage
|Deficit accumulated during the development stage  
|                                                  
|Total Stockholders' Deficit                       
|                                                  
|TOTAL LIABILITIES AND STOCKHOLDERS'               
|DEFICIT                                           





The accompanying notes are an integral part
of these financial statements.

4







Centenary International Corporation

(A Development Stage Company)

Statements of Operations

(Unaudited)





|                                  |  |                            |         |   |                          |   |         |              |  |   |         |   |  | From inception |        
|--------------------------------- |  | -------------------------- | ------- | - | ------------------------ | - | ------- | ------------ |  | - | ------- | - |  | -------------- | -------
|                                  |  |                            |         |   |                          |   |         |              |  |   |         |   |  | of the         |        
|                                  |  |                            |         |   |                          |   |         |              |  |   |         |   |  | Development    |        
|                                  |  |                            |         |   |                          |   |         |              |  |   |         |   |  | Stage on       |        
|                                  |  |                            |         |   |                          |   |         |              |  |   |         |   |  | January 1,     |        
|                                  |  | For the Three Months Ended |         |   | For the Six Months Ended |   |         | 2000 Through | 
|                                  |  | June 30,                   |         |   | June 30,                 |   |         | June 30,     | 
|                                  |  | 2012                       |         |   | 2011                     |   |         | 2012         |  |   | 2011    |   |  | 2012           |        
|                                  |  |                            |         |   |                          |   |         |              |  |   |         |   |  |                |        
|                                  |  |                            |         |   |                          |   |         |              |  |   |         |   |  |                |        
|REVENUES                          |  | $                          | -       |   |                          | $ | -       |              |  | $ | -       |   |  | $              | -      
|                                  |  |                            |         |   |                          |   |         |              |  |   |         |   |  |                |        
|OPERATING EXPENSES                |  |                            |         |   |                          |   |         |              |  |   |         |   |  |                |        
|                                  |  |                            |         |   |                          |   |         |              |  |   |         |   |  |                |        
|General and administrative        |  |                            | 11,675  |   |                          |   | 7,007   |              |  |   | 33,102  |   |  |                | 24,433 
|                                  |  |                            |         |   |                          |   |         |              |  |   |         |   |  |                |        
|Total Operating Expenses          |  |                            | 11,675  |   |                          |   | 7,007   |              |  |   | 33,102  |   |  |                | 24,433 
|                                  |  |                            |         |   |                          |   |         |              |  |   |         |   |  |                |        
|OPERATING LOSS                    |  |                            | (11,675 | ) |                          |   | (7,007  | )            |  |   | (33,102 | ) |  |                | (24,433
|                                  |  |                            |         |   |                          |   |         |              |  |   |         |   |  |                |        
|OTHER INCOME (EXPENSE)            |  |                            |         |   |                          |   |         |              |  |   |         |   |  |                |        
|                                  |  |                            |         |   |                          |   |         |              |  |   |         |   |  |                |        
|Other income                      |  |                            | -       |   |                          |   | -       |              |  |   | -       |   |  |                | -      
|Interest expense                  |  |                            | (2,875  | ) |                          |   | (2,100  | )            |  |   | (5,378  | ) |  |                | (4,125 
|                                  |  |                            |         |   |                          |   |         |              |  |   |         |   |  |                |        
|Total Other Income (Expense)      |  |                            | (2,875  | ) |                          |   | (2,100  | )            |  |   | (5,378  | ) |  |                | (4,125 
|                                  |  |                            |         |   |                          |   |         |              |  |   |         |   |  |                |        
|LOSS FROM CONTINUING OPERATIONS   |  |                            | (14,550 | ) |                          |   | (9,107  | )            |  |   | (38,480 | ) |  |                | (28,558
|                                  |  |                            |         |   |                          |   |         |              |  |   |         |   |  |                |        
|LOSS FROM DISCONTINUED OPERATIONS |  |                            | -       |   |                          |   | -       |              |  |   | -       |   |  |                | -      
|                                  |  |                            |         |   |                          |   |         |              |  |   |         |   |  |                |        
|NET LOSS BEFORE INCOME TAXES      |  |                            | (14,550 | ) |                          |   | (9,107  | )            |  |   | (38,480 | ) |  |                | (28,558
|                                  |  |                            |         |   |                          |   |         |              |  |   |         |   |  |                |        
|PROVISION FOR INCOME TAXES        |  |                            | -       |   |                          |   | -       |              |  |   | -       |   |  |                | -      
|                                  |  |                            |         |   |                          |   |         |              |  |   |         |   |  |                |        
|NET LOSS                          |  | $                          | (14,550 | ) |                          | $ | (9,107  | )            |  | $ | (38,480 | ) |  | $              | (28,558
|                                  |  |                            |         |   |                          |   |         |              |  |   |         |   |  |                |        
|BASIC LOSS PER COMMON SHARE       |  | $                          | (0.03   | ) |                          | $ | (0.02   | )            |  | $ | (0.07   | ) |  | $              | (0.05  
|                                  |  |                            |         |   |                          |   |         |              |  |   |         |   |  |                |        
|WEIGHTED AVERAGE NUMBER OF        |  |                            |         |   |                          |   |         |              |  |   |         |   |  |                |        
|SHARES OUTSTANDING                |  |                            | 576,682 |   |                          |   | 576,682 |              |  |   | 576,682 |   |  |                | 576,682







The accompanying notes are an integral part
of these financial statements.

5







Centenary International Corporation

(A Development Stage Company)

Statements of Cash Flows

(Unaudited)





|                                            |  |                          |         |   |              |   |         |                | 
|------------------------------------------- |  | ------------------------ | ------- | - | ------------ | - | ------- | -------------- | 
|                                            |  |                          |         |   |              |   |         |                | 
|                                            |  |                          |         |   |              |   |         | From Inception | 
|                                            |  |                          |         |   |              |   |         | of the         | 
|                                            |  |                          |         |   |              |   |         | Development    | 
|                                            |  |                          |         |   |              |   |         | Stage on       | 
|                                            |  |                          |         |   |              |   |         | January 1,     | 
|                                            |  | For the Six Months Ended |         |   | 2000 Through |  
|                                            |  | June 30,                 |         |   | June 30,     |  
|                                            |  | 2012                     |         |   | 2011         |   |         | 2012           | 
|OPERATING ACTIVITIES                        |  |                          |         |   |              |   |         |                | 
|                                            |  |                          |         |   |              |   |         |                | 
|Net loss                                    |  | $                        | (38,480 | ) |              | $ | (28,558 | )              | 
|Adjustments to reconcile net loss to        |  |                          |         |   |              |   |         |                | 
|net cash used by operating activities:      |  |                          |         |   |              |   |         |                | 
|Discontinued operations                     |  |                          | -       |   |              |   | -       |                | 
|Gain on expiration of debt                  |  |                          | -       |   |              |   | -       |                | 
|Amortization of debt discount               |  |                          | 465     |   |              |   | -       |                | 
|Changes in operating assets and liabilities |  |                          |         |   |              |   |         |                | 
|Prepaid expenses                            |  |                          | (5,500  | ) |              |   | -       |                | 
|Accrued interest payable                    |  |                          | 4,913   |   |              |   | 4,125   |                | 
|Accounts payable                            |  |                          | 118     |   |              |   | 3,825   |                | 
|                                            |  |                          |         |   |              |   |         |                | 
|Net Cash Used in Operating Activities       |  |                          | (38,484 | ) |              |   | (20,608 | )              | 
|                                            |  |                          |         |   |              |   |         |                | 
|INVESTING ACTIVITIES                        |  |                          | -       |   |              |   | -       |                | 
|                                            |  |                          |         |   |              |   |         |                | 
|FINANCING ACTIVITIES                        |  |                          |         |   |              |   |         |                | 
|                                            |  |                          |         |   |              |   |         |                | 
|Borrowings of notes payable-related parties |  |                          | 38,484  |   |              |   | 20,608  |                | 
|                                            |  |                          |         |   |              |   |         |                | 
|Net Cash Provided by Financing Activities   |  |                          | 38,484  |   |              |   | 20,608  |                | 
|                                            |  |                          |         |   |              |   |         |                | 
|                                            |  |                          |         |   |              |   |         |                | 
|NET DECREASE IN CASH                        |  |                          | -       |   |              |   | -       |                | 
|                                            |  |                          |         |   |              |   |         |                | 
|CASH AT BEGINNING OF PERIOD                 |  |                          | -       |   |              |   | -       |                | 
|                                            |  |                          |         |   |              |   |         |                | 
|CASH AT END OF PERIOD                       |  | $                        | -       |   |              | $ | -       |                | 
|                                            |  |                          |         |   |              |   |         |                | 
|                                            |  |                          |         |   |              |   |         |                | 
|SUPPLEMENTAL DISCLOSURES OF                 |  |                          |         |   |              |   |         |                | 
|CASH FLOW INFORMATION                       |  |                          |         |   |              |   |         |                | 
|                                            |  |                          |         |   |              |   |         |                | 
|CASH PAID FOR:                              |  |                          |         |   |              |   |         |                | 
|                                            |  |                          |         |   |              |   |         |                | 
|Interest                                    |  | $                        | -       |   |              | $ | -       |                | 
|Income Taxes                                |  | $                        | -       |   |              | $ | -       |                | 
|                                            |  |                          |         |   |              |   |         |                | 
|NON CASH FINANCING ACTIVITIES:              |  |                          |         |   |              |   |         |                | 
|                                            |  |                          |         |   |              |   |         |                | 
|Contributed capital                         |  | $                        | -       |   |              | $ | -       |                | 
|Common stock issued for debt                |  | $                        | -       |   |              | $ | -       |                | 
|Related-party debt forgiveness              |  | $                        | -       |   |              | $ | -       |                | 
|Discount on notes payable                   |  | $                        | 1,373   |   |              | $ | -       |                | 





The accompanying notes are an integral
part of these financial statements.





6









CENTENARY INTERNATIONAL CORPORATION

(A Development Stage Company)

Notes to Condensed Financial Statements

June 30, 2012 and 2011





NOTE 1 – CONDENSED FINANCIAL STATEMENTS



The accompanying financial statements have
been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring
adjustments) necessary to present fairly the financial position, results of operations and cash flows at June 30, 2012 and for
all periods presented have been made.



Certain information and footnote disclosures
normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States
of America have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with
the financial statements and notes thereto included in the Company's December 31, 2011 audited financial statements. The results
of operations for the periods ended June 30, 2012 and 2011 are not necessarily indicative of the operating results for the full
years.



NOTE 2 – GOING CONCERN



The Company's financial statements are
prepared using accounting principles generally accepted in the United States of America applicable to a going concern which contemplates
the realization of assets and liquidation of liabilities in the normal course of business. However, the Company does not have significant
cash or other current assets, nor does it have an established source of revenues sufficient to cover its operating costs and to
allow it to continue as a going concern. The Company is seeking to merge with or acquire an existing operating company.



The ability of the Company to continue
as a going concern is dependent upon its ability to successfully accomplish its merger and/or acquisition strategy, and eventually
attain profitable operations. The accompanying financial statements do not include any adjustments that may be necessary if the
Company is unable to continue as a going concern.



NOTE 3 – SIGNIFICANT ACCOUNTING POLICIES



Use of Estimates

The preparation of financial statements
in conformity with accounting principles generally accepted in the United States of America requires management to make estimates
and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported
amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.



Recent Accounting Pronouncements

The Company has evaluated recent accounting
pronouncements and their adoption has not had or is not expected to have a material impact on the Company’s financial position,
or statements.



NOTE 4 – RELATED PARTY TRANSACTIONS



The Company owes notes payable to shareholders of $268,970 and
$229,113 plus accrued interest of $29,819 and $24,906 as of June 30, 2012 and December 31, 2011, respectively. The notes payable
accrue interest at the 360-day LIBOR plus 2% per annum (calculated on the date of issuance), and are due one year from the date
of issuance. On December 20, 2009, each of the outstanding notes was extended for a period of one year, under the original terms.
As of December 31, 2011, each of these notes was extended through the same date in 2012. Should the Company default on the notes,
they are subject to a penalty such that they would accrue interest at 150% of the original rate, commencing on the due date. On
February 23, 2012 the Company borrowed $22,310 pursuant to the terms above. Of this amount $1,298 has been recorded as a loan discount.
On May 14, 2012 the Company borrowed $17,547 pursuant to the terms above. Of this amount $75 has been recorded as a loan discount.
During the three and six months ended June 30, 2012 a total of $333 and $465 was amortized to interest expenses, leaving an unamortized
discount of $908 at June 30, 2012.

7











CENTENARY INTERNATIONAL CORPORATION

(A Development Stage Company)

Notes to Condensed Financial Statements

June 30, 2012 and 2011





NOTE 5 – COMMITMENTS AND CONTINGENCIES



On September 22, 2009, the Company executed
a non-binding Memorandum of Understanding (the “MOU”) with Clear S.R.L. of Comodoro Rivadavia, Argentina (“Clear
SRL”), Oil m&s S.A. (“Oil m&s”) and Petrolera Cerro Negro S.A. (“PCN”) pursuant to which
the Company shall acquire from Clear SRL ninety-nine and 96/100 percent (99.96%) of the issued and outstanding shares of PCN which
shall become a majority-owned subsidiary of the Company. PCN owns an Oil & Gas Area Concession of “Cerro Negro,”
Chubut Province, Argentina. In payment for the PCN shares, the Company will issue to Clear SRL a total of 2,129,870 new shares
of the Company’s common stock. In addition, Oil m&s agreed to loan to PCN sufficient funds to comply with a Development
Program which provides for the drilling of eleven wells in the concession over a specified period of time. The loan to PCN will
provide that Oil m&s may, at its option, elect to convert the balance of the loan to 2,129,870 shares of the Company’s
common stock following completion of the eleven new wells.



The Company’s acquisition of PCN will be a
related-party transaction since Clear SRL is owned thirty percent (30%) by each of the two sons (sixty percent total) of Mr.
Cristobal Manuel Lopez. The Company is owned forty-eight and 37/100 percent (48.37%) directly by Mr. Lopez and forty and
40/100 percent (40.40%) by Oil m&s. Mr. Lopez directly owns eight tenths of one percent (0.8%) of Oil m&s and serves
as its President and director. Mr. Carlos Fabian De Sousa, the President and sole director of the Company, directly owns six
tenths of one percent (0.6%) owner of Oil m&s and serves as its Vice President and director. In addition, through one or
more other companies, Mr. Lopez and Mr. De Sousa collectively have indirect ownership of a majority of stock in Oil
m&s.



The acquisition is subject to the signing
of a definitive acquisition agreement by the parties. Closing of the acquisition of PCN is also subject to a number of conditions
and legal regulations, including obtaining certain governmental approvals in Argentina. The Company is in the process of forming
a wholly-owned subsidiary corporation in Argentina that will likely be used to facilitate the proposed acquisition. The Company
hopes to be able to consummate the acquisition by December 31, 2012, but due to current difficulties with governmental regulations
in Argentina, the acquisition may be delayed..



NOTE 6 – SUBSEQUENT EVENTS



Subsequent to June 30, 2012, the Company borrowed $8,987 from a related party. 100% of the funds were
used to satisfy company payables. The note accrues interest at the 360-day LIBOR plus 2% per annum (calculated on the date of issuance),
and is due one year from the date of issuance. Should the Company default on the note, it is subject to a penalty such that it
would accrue interest at 150% of the original rate, commencing on the original due date.



The Company has evaluated subsequent events
from the balance sheet date through the date the financial statements were issued and has determined that there are no items to
disclose, other than the item discussed in the previous paragraph.



8







|Item 2. | Management's Discussion and Analysis of Financial Condition and Results of Operations
|------- | -------------------------------------------------------------------------------------



The following information should be read
in conjunction with the financial statements and notes thereto appearing elsewhere in this Form 10-Q. The Company’s fiscal
year end is December 31.



Centenary International Corporation, a Nevada
corporation (the "Company" or “Centenary”), was incorporated on June 10, 1997. From its inception through
the 1999 fiscal year, the Company was considered an exporter of food stuffs and commodities from Argentina to the world. However,
the Company abandoned this line of business in 1999, before any revenues were earned. The Company re-entered the development stage
on January 1, 2000, and has remained an inactive development stage company since that date. The Company’s ongoing business
expenses are funded primarily through shareholder loans.



The Company’s current focus is to
seek out and consummate a merger with, or an acquisition of, an existing operating entity. Management investigates possible merger
candidates and acquisition opportunities from time to time. However, management can provide no assurance that we will have the
ability to acquire or merge with an operating business, business opportunity or property that will be of material value to us.



It is anticipated that we will require only
nominal capital to maintain our corporate viability until such time as we are able to consummate an acquisition or merger with
an operating business. However, unless we are able to facilitate an acquisition of or merger with an operating business or are
able to obtain significant outside financing, there is substantial doubt about our ability to continue as a going concern.



Except as disclosed in a Current Report
on Form 8-K filed by Centenary on September 25, 2009, Centenary has not yet entered into any agreement, nor do we have any commitment
or understanding to enter into or become engaged in any transaction, as of the date of this filing. As of the date hereof, we have
not made any arrangements or definitive agreements to use outside advisors or consultants.



Until such time as we acquire another business
or company, we do not intend to use any employees with the possible exception of part-time clerical assistance on an as-needed
basis. Outside advisors or consultants will likely be used only if they can be obtained for minimal cost or on a deferred payment
basis. Management is confident that it will be able to operate in this manner and to continue its search for business opportunities
during the next twelve months.



As disclosed in a Current Report on Form
8-K filed by Centenary on September 25, 2009, Centenary announced that on September 22, 2009, it executed a non-binding Memorandum
of Understanding (the “MOU”) with Clear S.R.L. of Comodoro Rivadavia, Argentina (“Clear SRL”), Oil m&s
S.A. (“Oil m&s”) and Petrolera Cerro Negro S.A. (“PCN”) pursuant to which Centenary shall acquire from
Clear SRL ninety-nine and 96/100 percent (99.96%) of the issued and outstanding shares of PCN which shall become a majority-owned
subsidiary of Centenary. PCN owns the Oil & Gas Area Concession of “Cerro Negro,” Chubut Province, Argentina, valued
at approximately US$1,064,935. In payment for the PCN shares, Centenary will issue to Clear SRL a total of 2,129,870 new shares
of Centenary common stock. In addition, Oil m&s will loan to PCN sufficient funds to comply with a Development Program which
provides for the drilling of eleven wells in the concession over a specified period of time. The loan to PCN will provide that
Oil m&s may, at its option, elect to convert the balance of the loan to 2,129,870 shares of Centenary common stock following
completion of the eleven new wells.



The acquisition of PCN by Centenary will be a related
party transaction since Clear SRL is owned thirty percent (30%) by each of the two sons (sixty percent total) of Mr.
Cristobal Manuel Lopez. Centenary is owned forty-eight and 37/100 percent (48.37%) directly by Mr. Lopez and forty and 40/100
percent (40.40%) by Oil m&s. Mr. Lopez directly owns eight tenths of one percent (0.8%) of Oil m&s and serves as its
President and director. Mr. Carlos Fabian De Sousa, the President and sole director of Centenary, directly owns six tenths of
one percent (0.6%) of Oil m&s and serves as its Vice President and director. In addition, through one or more other
companies, Mr. Lopez and Mr. De Sousa collectively have indirect ownership of a majority of stock in Oil
m&s.



9







The acquisition is subject to the signing
of a definitive acquisition agreement by the parties. Closing of the acquisition of PCN is also subject to a number of conditions
and legal regulations, including obtaining certain governmental approvals in Argentina. The Company hopes to be able to consummate
the acquisition by December 31, 2012, but due to current difficulties with governmental regulations in Argentina, the acquisition
may be delayed.



The Cerro Negro concession is a 186 km2
area in Chubut Province in the South of Argentina, with 26 out of 40 oil wells in production at present. Through June 30, 2012
it had an accumulated production of 2,168,645 barrels of oil equivalent (“boe”).



The concession finishes on 12/31/2025 and
until this time the proved reserves of oil reach 4,883,230 boe and unproved reserves reach 2,407,100 boe.



Results of Operations



Three Months Ended June 30, 2012 and 2011



Revenues and Other Income



We had no revenues in either of the three
month periods ended June 30, 2012 or 2011. We had no other income for either of the three month periods ended June 30, 2012 or
2011. If we are able to successfully complete the proposed acquisition of PCN during the year ending December 31, 2012, we should
begin to generate revenues in the year ending December 31, 2012.



Expenses



We had general and administrative expenses
of $11,675 in the three month period ended June 30, 2012, an increase of $4,668 from the $7,007 of general and administrative
expenses incurred in the three month period ended June 30, 2011. The increase in general and administrative expense is primarily
attributable to an increase in professional fees in the later period. We incurred interest expense of $2,875 in the three months
ended June 30, 2012, an increase of $775 from the interest expense of $2,100 incurred in the three months ended June 30, 2011.
The increase in interest expense in the later period is attributable to the fact that the balance of the notes payable –
related parties was higher in the later period. If we are able to successfully complete the proposed acquisition of PCN during
the year ending December 31, 2012, we expect that our general and administrative expenses will increase significantly due to the
operations of PCN.



Net Losses



We had a net loss of $14,550, or ($0.03)
per share, during the three month period ended June 30, 2012, compared to a net loss of $9,107, or ($0.02) per share, during the
comparable period of 2011. The primary reason for the $5,443 increase in net loss was a increase in general and administrative
expenses (professional fees) and interest expenses incurred in the later period.



Six Months Ended June 30, 2012 and 2011



Revenues and Other Income



We had no revenues in either of the six
month periods ended June 30, 2012 or 2011. We recorded no other income in the six month periods ended June 30, 2012, or 2011. If
we are able to successfully complete the proposed acquisition of PCN during the year ending December 31, 2012, we should begin
to generate revenues in the year ending December 31, 2012.



Expenses



We had general and administrative expenses
of $33,102 in the six month period ended June 30, 2012, an increase of $8,669 from the $24,433 of general and administrative expenses
incurred in the six month period ended June 30, 2011. The increase in general and administrative expenses is primarily attributable
to an increase in professional fees during the later period. We incurred interest expense of $5,378 in the six months ended June
30, 2012, an increase of $1,253 from the interest expense of $4,125 incurred in the six months ended June 30, 2011. The increase
in interest expense is attributable to the fact that the balance of the notes payable – related parties was larger in the
later period.

10







Net Losses



We had a net loss of $38,480 or ($0.07)
per share, during the six month period ended June 30, 2012, compared to a net loss of $28,558, or $(0.05) per share, during the
comparable period of 2011. The primary reason for the $9,922 increase in net loss was due to an increase in general and administrative
expenses (professional fees) in the later period.



Liquidity and Capital Resources – June 30, 2012



The Company is in the development stage
and, since inception, has experienced significant changes in liquidity, capital resources and shareholders’ equity. As of
June 30, 2012 the Company had $5,500 in total assets, with total liabilities of $306,868. The liabilities consist primarily of
notes payable – related party, accrued interest payable and accounts payable.



Net cash used in operating activities was
$38,484 for the six months ended June 30, 2012, which is identical to the financing cash flows from notes borrowed. It reflects
the net loss incurred for the six months ended June 30, 2012, less increases in accounts payable of $118 and accrued interest payable
of $4,913, partially offset by an increase of prepaid expenses of $5,500 and amortization of loan discount of $465.



The Company’s current assets are not
sufficient to conduct its plan of operation over the next twelve (12) months. The Company anticipates that it may need to raise
approximately $300,000 from equity or debt financing arrangements to meet the Company’s expenses in the next twelve (12)
months if the Company remains as a development stage company searching for business opportunities. If the Company successfully
closes its proposed acquisition of PCN during 2012, the Company anticipates that it may need to raise approximately $300,000 from
equity or debt financing arrangements to meet the Company’s expenses in the next twelve (12) months. We have no current commitments
or arrangements with respect to, or immediate sources of, funding, except that if we successfully complete the proposed acquisition
of PCN, Oil m&s has agreed to loan PCN sufficient funds to comply with a development program which provides for the drilling
of eleven wells in the Cerro Negro concession over a specified period of time. Further, no assurances can be given that funding,
if needed, would be available or available to us on acceptable terms. Although, our principal shareholder or a company affiliated
with him would be the most likely source of new funding in the form of loans or equity placements in the near future, no commitments
have been made for future investment and the Company has no agreement formal or otherwise. The Company’s inability to obtain
funding, if required, would have a material adverse affect on its plan of operation.



We expect to rely at least partially on our principal shareholder
or a company with which he is affiliated to pay our expenses in the future, because we have no cash or sources of revenues, and
anticipate having none until such time that we complete a merger with or acquisition of an existing operating company. There is
no assurance that we will complete such a merger or acquisition or that our principal shareholder or his affiliated company will
continue indefinitely to pay our expenses.	As of June 30, 2012 we had no cash and current liabilities totaled $306,868.



All of the Company’s liabilities are current liabilities
due within the next year.



The Company has no current plans to make
any changes in the number of employees unless the Company can successfully close the proposed acquisition of PCN, in which case
the Company would expect to have two employees following the acquisition.



In the opinion of management, inflation has not and
will not have a material effect on our operations until such time as we successfully complete an acquisition or merger. At that
time, management will evaluate the possible effects of inflation on our business and operations.



Capital Expenditures



The Company expended no amounts on capital
expenditures during the year ended December 31, 2011 or during the year ended December 31, 2010. The Company expended no amounts
on capital expenditures during the six months ended June 30, 2012, and the Company has no current plans for the purchase or sale
of any plant or equipment in the current fiscal year.

11







Critical Accounting Policies



In the notes to the Company’s financial
statements for the year ended December 31, 2011, included in the Company’s annual report filed on Form 10-K, the Company
discusses those accounting policies that are considered to be significant in determining the results of operations and its financial
position. The Company believes that the accounting principles utilized by it conform to accounting principles generally accepted
in the United States of America.



The preparation of financial statements
requires Company management to make significant estimates and judgments that affect the reported amounts of assets, liabilities,
revenues and expenses. By their nature, these judgments are subject to an inherent degree of uncertainty. On an on-going basis,
the Company evaluates estimates. The Company bases its estimates on historical experience and other facts and circumstances that
are believed to be reasonable, and the results form the basis for making judgments about the carrying value of assets and liabilities.
The actual results may differ from these estimates under different assumptions or conditions.



Going Concern



The Company expressed substantial doubt
as to the Company’s ability to continue as a going concern as a result of recurring losses, lack of revenue-generating activities
and a deficit accumulated during the development stage in the amount of $2,547,838 as of June 30, 2012. The Company’s ability
to continue as a going concern is subject to the ability of the Company to realize a profit from operations and/or obtain funding
from outside sources. Since the Company has no revenue generating operations, our plan to address the Company’s ability to
continue as a going concern over the next twelve months includes: (1) obtaining additional funding from the sale of our securities;
and/or (2) obtaining loans from our principal shareholders and/or various financial institutions, where possible. Although we believe
that we will be able to obtain the necessary funding to allow the Company to remain a going concern through the methods discussed
above, there can be no assurances that such methods will prove successful.



Plan of Operation



The Company’s current focus is to
seek out and consummate a merger with, or an acquisition of, an existing operating entity. We intend to actively seek out and investigate
possible business opportunities for the purpose of possibly acquiring or merging with one or more business ventures. We do not
intend to limit our search to any particular industry or type of business. From time to time we investigate possible merger candidates
and acquisition opportunities. However, we can provide no assurance that we will have the ability to acquire or merge with an operating
business, business opportunity, or property that will be of material value to us.



As
disclosed in a Current Report on Form 8-K filed by Centenary on September 25, 2009, Centenary announced that on September 22, 2009,
it executed a non-binding Memorandum of Understanding (the “MOU”) with Clear S.R.L. of Comodoro Rivadavia, Argentina
(“Clear SRL”), Oil m&s S.A. (“Oil m&s”) and Petrolera Cerro Negro S.A. (“PCN”) pursuant
to which Centenary shall acquire from Clear SRL ninety-nine and 96/100 percent (99.96%)
of the issued and outstanding shares of PCN which shall become a majority-owned subsidiary of Centenary. PCN owns the Oil &
Gas Area Concession of “Cerro Negro,” Chubut Province, Argentina, valued at approximately US$1,064,935. In payment
for the PCN shares, Centenary will issue to Clear SRL a total of 2,129,870 new shares of Centenary common stock. In addition, Oil
will loan to PCN sufficient funds to comply with a Development Program which provides for the drilling of eleven wells in the concession
over a specified period of time. The loan to PCN will provide that Oil m&s may, at its option, elect to convert the balance
of the loan to 2,129,870 shares of Centenary common stock following completion of the eleven new wells.



The acquisition of PCN by Centenary will be a related party
transaction since Clear SRL is owned thirty percent (30%) by each of the two sons (sixty percent total) of Mr. Cristobal Manuel
Lopez.  Centenary is owned forty-eight and 37/100 percent (48.37%) directly by Mr. Lopez and forty and 40/100 percent
(40.40%) by Oil m&s.  Mr. Lopez directly owns eight tenths of one percent (0.8%) of Oil m&s and serves as its
President and director.  Mr. Carlos Fabian De Sousa, the President and sole director of Centenary, directly owns six tenths
of one percent (0.6%) owner of Oil m&s and serves as its Vice President and director. In addition, through one or more other
companies, Mr. Lopez and Mr. De Sousa collectively have indirect ownership of a majority of stock in Oil m&s.



12







The acquisition is subject to the signing
of a definitive acquisition agreement by the parties.  Closing of the acquisition of PCN is also subject to a number
of conditions and legal regulations, including obtaining certain governmental approvals in Argentina.  An application
was filed in Chubut Province, Argentina in March 2010 seeking government approval to allow Centenary to become a shareholder of
an Argentine company.  The application is in process.  The Company hopes to be able to obtain the necessary
governmental approval and complete the acquisition by December 2012, but due to current difficulties with governmental regulations
in Argentina, the acquisition may be delayed..



The Cerro Negro concession is a 186 km2
area in Chubut Province in the South of Argentina, with 26 out of 40 oil wells in production at present. Through June 30, 2012
it had an accumulated production of 2,168,645 barrels of oil equivalent (“boe”).



The concession finishes on December 31,
2025 and until this time the proved reserves of oil reach 4,883,230 boe and unproved reserves reach 2,407,100 boe.



Because we lack significant funds, it may be necessary
for our officers, directors or principal shareholders or their affiliates to either advance funds or to accrue expenses until such
time as a successful business consolidation can be made. Management intends to hold expenses to a minimum and to obtain services
on a contingency basis when possible. However, if we engage outside advisors or consultants in our search for business opportunities,
our expenses will increase.



We believe the best method available to
us to raise capital is the private sale of our securities. Because we are a development stage company, it is unlikely that we could
make a public sale of securities or be able to borrow any significant sum from either a commercial or private lender. We anticipate
that our principal shareholder will continue to arrange for loans to be made to the Company in the near term to support our operations.
However, he is not contractually obligated to provide additional funds to us. There can be no assurance that we will be able to
obtain additional funding when and if needed, or that such funding, if available, can be obtained on acceptable terms.



We do not intend to use any employees, with
the possible exception of part-time clerical assistance on an as-needed basis. Outside advisors or consultants will be used only
if they can be obtained for minimal cost or on a deferred payment basis. Management is confident that it will be able to operate
in this manner and to continue its search for business opportunities during the next twelve months. Management further believes
that we will not have to make any equipment purchases in the immediate future.



Net Operating Loss



We have accumulated approximately $330,000 of net operating
loss carry forwards as of June 30, 2012. This loss carry forward may be offset against taxable income and income taxes in future
years and expires in the year 2032. The use of these losses to reduce future income taxes will depend on the generation of sufficient
taxable income prior to the expiration of the net operating loss carry forwards. In the event of certain changes in control, there
will be an annual limitation on the amount of net operating loss carry forwards which can be used. No tax benefit has been reported
in the financial statements as of June 30, 2012 because it has been fully offset by a valuation reserve. The use of future tax
benefit is undeterminable because we presently have no operations.



Forward-Looking and Cautionary Statements



This report contains certain forward-looking
statements. These statements relate to future events or our future performance and involve known and unknown risks and uncertainties.
Actual results may differ substantially from such forward-looking statements, including, but not limited to, the following:



| | · | our ability to search for an appropriate business opportunity and
to subsequently acquire or merge with such entity;
| | - | --------------------------------------------------------------------------------------------------------------------





13







| | · | to meet our cash and working capital needs;
| | - | -------------------------------------------

| | · | our ability to maintain our corporate existence as a viable entity;
and
| | - | -----------------------------------------------------------------------

| | · | other risks detailed in our periodic report filings with the SEC.
| | - | -----------------------------------------------------------------



In some cases, you can identify forward-looking statements
by terminology such as “may,” “will” “should,” “expects,” “intends,”
“plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,”
“continue,” or the negative of these terms or other comparable terminology.



These statements are only predictions.
Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future
results, levels of activity, performance or achievements.



Item 3.	Quantitative and
Qualitative Disclosures About Market Risk



A “smaller reporting company”
(as defined by Item 10 of Regulation S-K) is not required to provide the information required by this Item pursuant to Item 305(e)
of Regulation S-K.



Item 4.	Controls and Procedures



As of the end of the period covered by this report,
we carried out an evaluation, under the supervision and with the participation of management, including our chief executive officer
and principal financial officer, of the effectiveness of the design and operation of our disclosure controls and procedures as
defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934 (“Exchange Act”). Based upon that evaluation,
our chief executive officer and principal financial officer concluded that, as of the end of the period covered by this report,
our disclosure controls and procedures were effective to ensure that the information required to be disclosed by us in the reports
that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified
in the SEC’s applicable rules and forms, and that such information was accumulated and communicated to our chief executive
officer and chief financial officer, in a manner that allowed for timely decisions regarding required disclosures. There have been
no changes in our internal controls or in other factors which could significantly affect internal controls subsequent to the date
we carried out our evaluation.



During the three months ended June 30, 2012,
no changes occurred with respect to our internal control over financial reporting that materially affected, or are reasonably likely
to materially affect, internal control over financial reporting.



PART II – OTHER INFORMATION



Item 1.	Legal Proceedings



There are no material pending legal proceedings to which
we are a party or to which any of our property is subject and, to the best of our knowledge, no such actions against us are contemplated
or threatened.



Item 1A.	Risk Factors



A “smaller reporting company” (as defined
by Item 10 of Regulation S-K) is not required to provide the information specified by this Item.



Item 2.	Unregistered Sales of Equity Securities and Use
of Proceeds



During the three month period ended June 30, 2012, the
Company did not issue any shares of its unregistered common stock. For a description of any sales of shares of the Company’s
unregistered stock made in the past three years, please refer to the Company’s Annual Reports on Form 10-KSB or Form 10-K,
and the Company’s Quarterly Reports on Form 10-QSB or Form 10-Q filed since December 31, 2008.



Item 3.	Defaults Upon Senior Securities



This Item is not applicable.



Item 4.	Mine Safety Disclosures



This Item is not applicable.



Item 5.	Other Information



This Item is not applicable.

14







|Item 6. | Exhibits        |                                                                                                                                                                                                                                                                                                             
|------- | --------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|        |                 |                                                                                                                                                                                                                                                                                                             
|(a)     | Exhibits:       |                                                                                                                                                                                                                                                                                                             
|        |                 |                                                                                                                                                                                                                                                                                                             
|        | Exhibit 3.1*    | Articles of Incorporation of the Company (incorporated by reference from the Form 10-SB filed with the Commission on February 27, 1998).                                                                                                                                                                    
|        |                 |                                                                                                                                                                                                                                                                                                             
|        | Exhibit 3.2*    | By-laws of the Company (incorporated by reference from the Form 10-SB filed with the Commission on February 27, 1998).                                                                                                                                                                                      
|        |                 |                                                                                                                                                                                                                                                                                                             
|        | Exhibit 3.3*    | Certificate of Amendment to Articles of Incorporation dated effective March 30, 2007 (effecting a 1 share for 100 shares reverse stock split of outstanding common stock) (incorporated by reference from the Form 10-KSB for the year ended December 31, 2006 filed with the Commission on April 12, 2007).
|        |                 |                                                                                                                                                                                                                                                                                                             
|        | Exhibit 14.1*   | Code of Ethics (incorporated by reference from the Form 10-K for the year ended December 31, 2008 filed with the Commission on April 1, 2009)                                                                                                                                                               
|        |                 |                                                                                                                                                                                                                                                                                                             
|        | Exhibit 31.1    | Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                         
|        |                 |                                                                                                                                                                                                                                                                                                             
|        | Exhibit 31.2    | Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                         
|        |                 |                                                                                                                                                                                                                                                                                                             
|        | Exhibit 32.1    | Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.                                                                                                                                                          
|        |                 |                                                                                                                                                                                                                                                                                                             
|        | Exhibit 32.2    | Certification of Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.                                                                                                                                                          
|        |                 |                                                                                                                                                                                                                                                                                                             
|        | Exhibit 101.INS | XBRL Instance Document**                                                                                                                                                                                                                                                                                    
|        |                 |                                                                                                                                                                                                                                                                                                             
|        | Exhibit 101.PRE | XBRL Taxonomy Extension Presentation Linkbase**                                                                                                                                                                                                                                                             
|        |                 |                                                                                                                                                                                                                                                                                                             
|        | Exhibit 101.LAB | XBRL Taxonomy Extension Label Linkbase**                                                                                                                                                                                                                                                                    
|        |                 |                                                                                                                                                                                                                                                                                                             
|        | Exhibit 101.DEF | XBRL Taxonomy Extension Definition Linkbase**                                                                                                                                                                                                                                                               
|        |                 |                                                                                                                                                                                                                                                                                                             
|        | Exhibit 101.CAL | XBRL Taxonomy Extension Calculation Linkbase**                                                                                                                                                                                                                                                              
|        |                 |                                                                                                                                                                                                                                                                                                             
|        | Exhibit 101.SCH | XBRL Taxonomy Extension Schema **                                                                                                                                                                                                                                                                           



*Previously filed



**Pursuant to Rule 406T of Regulation S-T, these interactive
data files are deemed “furnished” and not “filed” or part of a registration statement or prospectus for
purposes of Sections 11 and 12 of the Securities Act of 1933, or deemed “furnished” and not “filed” for
purposes of Section 18 of the Securities and Exchange Act of 1934, and otherwise is not subject to liability under these sections.

15







SIGNATURES





Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.



|                      | CENTENARY INTERNATIONAL CORPORATION      
|--------------------- | -----------------------------------------
|                      |                                          
|                      |                                          
|                      |                                          
|Date: August 20, 2012 | By:/s/ Carlos Fabian De Sousa            
|                      | Carlos Fabian De Sousa                   
|                      | President, Sole Director, Chief Executive
|                      | Officer, Chief Financial Officer and     
|                      | Principal Accounting Officer             





16