SOURCE: Century Petroleum Corp

October 31, 2007 08:30 ET

CENTURY PETROLEUM: OPERATIONS UPDATE -- OCTOBER 2007

HOUSTON, TX--(Marketwire - October 31, 2007) - Century Petroleum Corp. (OTCBB: CYPE) ("Century" or "the Company") is pleased to provide the following update on the upcoming productions tests of the Shadyside Farm and Thunder Stud prospects.

SHADYSIDE FARM

Shadyside # 1 is ready to be production tested during the first half of November. Century has increased its working interest to 15.17% (ACP) and Neumin Production Company has been designated as operator. A successful production test would allow the Company to achieve early product sales via a nearby pipeline connection.

THUNDER STUD

Century has increased its working interest to 5.44% in the pre-Frio geologic section of the Thunder Stud's EW Brown # 1. The Company expects the well to be tested during November and will provide additional updates once available.

"The fourth quarter of 2007 is proving to be an exciting one for Century. Thunder Stud and Shadyside Farm are nearing the production test stage and a successful test on either of these high impact projects would provide Century with an important reserve base. At Century, we are very pleased to have been able to increase our working interest in both of these major projects," said James Hersch, CEO of Century Petroleum.

Further Information

Shareholders and interested parties are encouraged to visit Century Petroleum's website at www.centurypetrol.com and sign-up to receive news on the company as it becomes available. Otherwise a corporate information package can be requested by contacting shareholder relations at toll-free 1-877-284-8258.

About Century Petroleum Corporation

Century Petroleum Corporation is a publicly traded, dynamic junior oil and gas exploration company currently focused on making significant commercial petroleum discoveries in the Southern States. Century Petroleum Corporation's intent is to build near-term shareholder value by initially focusing its activities in proven domestic hydrocarbon basins. Century Petroleum Corporation trades on the NASD OTC BB under the symbol: CYPE.

Forward-Looking Statements

Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management, including, but not limited to, the Company's belief that Century Petroleum Corp can identify and successfully negotiate leases for oil and gas properties, and that the Company can participate in the exploration of those properties. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the US Securities and Exchange Commission.

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