SOURCE: Century Petroleum Corp

April 30, 2008 08:30 ET

Century Petroleum Announces First Revenue

HOUSTON, TX--(Marketwire - April 30, 2008) - Century Petroleum Corp. (OTCBB: CYPE) ("Century" or "the Company") is pleased to announce that it has received its first revenue from the production of the Shadyside #1. Between January and February 2008, the well produced at an average of 2,900BOC and 36MMCFG per month, generating revenues net to Century of $116,262.53. During March, after increasing the choke size of Shadyside #1, the monthly production increased to over 4,200 BOC and 65MMCF. Century holds a 15.17% working interest (10.69485% NRI).

"The initial revenue stream of Shadyside #1 and its future revenues will cover the Company's burn rate and help the company to pay for its ongoing exploratory activities. We have joined the active list of hydrocarbon producing companies with our participation in the Shadyside discovery and we are hopeful to follow our initial high-pressure high-temperature success with participation in new exploration ventures," 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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