SOURCE: Century Petroleum Corp.

July 19, 2007 08:25 ET

Century Petroleum: Shadyside #1 Spuds

HOUSTON, TX--(Marketwire - July 19, 2007) - Century Petroleum Corp. (OTCBB: CYPE) ("Century" or "the Company") is pleased to announce that drilling operations on the first well on the Shadyside Farm Prospect began on July 17, 2007.

Century expects the well to penetrate the main geologic objectives late on the third quarter of 2007. Over 2,000 feet have already been drilled. The Company holds an 8.92% working interest in the project and the proposed 16,500-foot exploratory well will target a P50 resource of 50 BCF. The progress of the well may be monitored by interested parties on the SONRIS Louisiana State website (www.sonris.com). The operator is Red Willow Offshore, LLC.

"Century expects an exciting and busy second half of its 2007 drilling season. Operations on the Shadyside Farm project have begun and if successful, the possibility of early production from this well would be very good. Moreover, we have participated in our initial exploratory well on the Thunder Stud Prospect with encouraging results to date and its upcoming production test will be an important event for the company," said James Hersch, Century's CEO.

"An economic discovery in any of our ongoing exploratory projects will address our stated company strategy of long reserves life, low costs of finding, and generation of proven undeveloped locations. Century plans to participate in three HP-HT wells in 2007, and maybe delineation or development wells depending on the outcome of our ongoing program," added Mr. Hersch.

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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