Century Energy Ltd.

Century Energy Ltd.

June 20, 2011 17:16 ET

Century Energy Announces Private Placement

CALGARY, ALBERTA--(Marketwire - June 20, 2011) - Century Energy Ltd. (TSX VENTURE:CEY) (the "Company") announces that it is offering a non-brokered private placement for gross proceeds of up to $500,000 (the "Offering"). The Offering will consist of up to 10,000,000 Units at $0.05 per unit. Each Unit consists of one common share and one common share purchase warrant ("Warrant"). Each Warrant will entitle the holder to buy one common share at any time until the close of business on the earlier of: (i) 18 months from the date of the closing of the Offering at an exercise price of $0.10 per common share; and (ii) the date following the expiry of 4 months from the date of closing and occurring 30 days from the date the Warrant holder receives notice from the Company that there has been a period of 10 consecutive trading days during which the time the closing trading price of the common shares of the Company was $0.15 or higher.

The Offering will be conducted in reliance upon certain prospectus and registration exemptions and all securities to be issued will be subject to a four month hold period. It is not anticipated that insiders of the Company will be subscribing for greater than 25% of the Offering. The net proceeds from the Offering will be used for development of the Corporation's Vawn heavy oil prospect in Central Western Saskatchewan (the "Vawn Prospect") and for general corporate purposes. More information concerning the Vawn Prospect can be found under the Vawn Heavy Oil Project link on the Company's web site at www.centuryenergyltd.com.

The Company will, subject to applicable securities laws, pay a finder's fee of 9% cash plus 9% agent's warrants. Each agent's warrant will be exercisable at $0.10 per common share and will expire 18 months from date of the closing of the Offering.

Completion of the Offering is subject to all required regulatory approvals, including the acceptance of the TSX Venture Exchange.

Century Energy Ltd., www.centuryenergyltd.com, is an oil and gas exploration company pursuing opportunities in Canada and the United States.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. In addition, this release is not for distribution to U.S. Newswire Services or for dissemination in the United States.

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