Century Energy Ltd.
TSX VENTURE : CEY

March 23, 2010 12:41 ET

Century Energy Ltd. Update on Farm Out Test Well

HOUSTON, TEXAS--(Marketwire - March 23, 2010) -

IN ADDITION, THIS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Century Energy Ltd. (TSX VENTURE:CEY) ("Century" or the "Company) is pleased to announce that pursuant to the Farmout Agreement announced January 29, 2010, Atikwa Resources Inc. ("Atikwa") has drilled, completed and equipped for production a vertical Test Well, Atikwa Roncott 7-27-5-25 W2M. By drilling the Test Well, Atikwa has earned 50% of Century's interest in Section 27-5-25-W2M and has an option to drill another well to earn a similar interest in the other sections of land that are covered by the farmout. Century elected not to participate in the equipping operation and as a result the participating parties will be entitled to recover out of Century's share of production from the well, 200% of Century's share of the equipping costs before Century begins receiving its share of production

About Century Energy Ltd.

Century Energy Ltd. 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.

Contact Information

  • Century Energy Ltd.
    Jimmy McCarroll
    President
    (713) 658-0161 or Toll Free (U.S. Only): (877) 243-4153