Century Energy Announces Closing of Private Placement

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Century Energy Ltd. ("Century" or the "Company") (TSX VENTURE:CEY) announces
that the Company has closed its previously disclosed non-brokered private
placement for gross proceeds of $500,000 (the "Offering"). Under the Offering,
the Company issued 10,000,000 units (the "Units") at $0.05 per Unit. Each Unit
consisted of one common share and one common share purchase warrant (the
"Warrants"). Each Warrant entitles the holder to buy one common share at an
exercise price of $0.10 per common share. The Warrants will expire the earlier
of: (i) 18 months from the date of closing of the Offering; or (ii) the date
following the expiry of 4 months from the date of closing and occurring 30 days
from the date the Warrant holder receives notice from the Company that the
trading price of the common shares has closed each day for a period of 10
consecutive trading days at $0.15 per common share or higher.


The Offering was conducted in reliance upon certain prospectus and registration
exemptions and all securities to be issued will be subject to a four month hold
period. The net proceeds from the Offering will be used for general corporate
purposes.


The Company paid a cash commission plus 1,000,000 broker's Warrants. Each
broker's Warrant is exercisable at $0.10 per common share and expires 18 months
from date of the closing of the Offering.


Century Energy Ltd., www.centuryenergyltd.com, is an oil and gas exploration
company pursuing opportunities in Canada and the United States.