SOURCE: Century Petroleum Corp

September 12, 2007 08:15 ET

Century Petroleum: Shadyside Operations Update

HOUSTON, TX--(Marketwire - September 12, 2007) - Century Petroleum Corp. (OTCBB: CYPE) ("Century" or "the Company") is pleased to provide an update on the drilling of the Shadyside Farm Prospect.

Operations on Shadyside # 1 began on July 17, 2007. The well was drilled down to the depth of 16,294' MD/TVD and it penetrated the main Miocene objective reservoirs. The operator recommended to cease drilling operations and begin preparations for petrophysical wireline logging.

Preliminary petrophysical analysis (logging while drilling) suggests multiple pay horizons have been encountered. A complete petrophysical logging suite and additional engineering data will be required to confirm if these zones are commercial.

Century expects the logging operations to be completed within the next few days. A third party engineering company, contracted by Century, will evaluate the data once available. Subject to positive results, a production liner will be set and the well prepared for pipeline hook-up, which could lead to first production during the first quarter of 2008.

The Company holds an 8.92% working interest in the project. The operator is Red Willow Offshore, LLC.

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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