Century Petroleum Provides Update on its 2007 Drilling Program

Century Petroleum provides an update on its operations.

Thunder Stud Prospect:

Thunder Stud #1 is currently undergoing testing operations. Century intends to exercise all its contractual rights concerning future operations in the project and will release appropriate geologic/engineering data in accordance with full disclosure regulations as necessary.

Shadyside Farm Prospect:

The construction of the pipeline and gas gathering system has been completed. The production test for Shadyside #1 is anticipated to begin later this week.

Alligator Bayou Prospect:

The high-impact Alligator Bayou Prospect is expected to spud on late first quarter or early second quarter 2008.

"At Century, we are very excited about the progress of our 2007 drilling program. The two keystone projects for this year have been drilled and are in the production test stage. We expect the tests to be completed before the end of the year. In 2008, we intend to participate in future operations in our key project areas and continue growing our HP-HT portfolio," said James Hersch, CEO of Century Petroleum.