Century Energy Announces Private Placement

Century Energy Ltd. (TSX VENTURE:CEY) (the "Company") announces that it is
offering a non-brokered private placement for gross proceeds of up to $500,000
(the "Offering"). The Offering will consist of up to 10,000,000 Units at $0.05
per unit. Each Unit consists of one common share and one common share purchase
warrant ("Warrant"). Each Warrant will entitle the holder to buy one common
share at any time until the close of business on the earlier of: (i) 18 months
from the date of the closing of the Offering at an exercise price of $0.10 per
common share; and (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 there has been a period of 10 consecutive trading
days during which the time the closing trading price of the common shares of the
Company was $0.15 or higher. 


The Offering will be conducted in reliance upon certain prospectus and
registration exemptions and all securities to be issued will be subject to a
four month hold period. It is not anticipated that insiders of the Company will
be subscribing for greater than 25% of the Offering. The net proceeds from the
Offering will be used for development of the Corporation's Vawn heavy oil
prospect in Central Western Saskatchewan (the "Vawn Prospect") and for general
corporate purposes. More information concerning the Vawn Prospect can be found
under the Vawn Heavy Oil Project link on the Company's web site at
www.centuryenergyltd.com. 


The Company will, subject to applicable securities laws, pay a finder's fee of
9% cash plus 9% agent's warrants. Each agent's warrant will be exercisable at
$0.10 per common share and will expire 18 months from date of the closing of the
Offering.


Completion of the Offering is subject to all required regulatory approvals,
including the acceptance of the TSX Venture Exchange.


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