SOURCE: Century Petroleum Corp.

January 25, 2007 08:30 ET

Century Petroleum -- Thunder Stud Project Update

HOUSTON, TX -- (MARKET WIRE) -- January 25, 2007 -- Century Petroleum Corp. (OTCBB: CYPE) ("Century Petroleum" or "the Company") is pleased to announce that the Thunder Stud project has spud.

Drilling operations began 5:30AM January 21, 2007. This large structural prospect is targeting conventional sandstone reservoirs of Tertiary age, which have a high-side estimated resource range approaching 1TCF.

Century Petroleum has a 4% working interest in the +4,000 acres encompassing the Thunder Stud prospect. The initial exploratory well is targeting reserves P.50 of 133BCF of which Century Petroleum's net could reach 866,000 BOE. The first prospective horizon of the prospect is situated between 10,000 and 11,000 feet -- depth that is expected to be reached in approximately 40 days. The well is permitted to 18,000 feet and expected to reach TD in approximately 90 days.

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.

On behalf of the Company

James Hersch
President
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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