Century Petroleum Continuing Logging Ops at Shadyside Farm Prospect

Century Petroleum says that 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 begins 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.


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