Drilling operations began 5:30 a.m. 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.
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.
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