Century Energy Ltd. Announces Agreement to Sell Vawn Assets

Century Energy Ltd. ("Century") (TSX VENTURE:CEY) announces the sale of the Vawn
Heavy Oil assets, subject to shareholder and regulatory approval. Century has
entered into a sale and conveyance agreement with an arm's length party of its
right, title, estate and interest in and to the Vawn Heavy Oil assets located in
the Edam area of Saskatchewan for cash consideration of $475,000.


Following closing of the transaction, Century plans to seek other energy
opportunities in Canada and the United States of America. 


An annual and special meeting will be held on April 17th in Calgary to seek,
among other things, shareholder approval of the sale. Shareholders who wish to
vote their shares may visit Century's website www.centuryenergyltd.com for
instructions on voting procedures.


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


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release. 


FORWARD-LOOKING STATEMENTS: 

This news release contains forward-looking statements, within the meaning of
applicable securities legislation, concerning Century's business and affairs. In
certain cases, forward-looking statements can be identified by the use of words
such as "plans", "expects" or "does not expect", "intends" "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or variations of
such words and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be achieved". Such
forward-looking statements include those with respect to the Century's intention
to seek shareholder approval of the sale, the date established for the
shareholders meeting and its plans for the use of proceeds of the sale. These
forward-looking statements are based on current expectations, and are naturally
subject to uncertainty and changes in circumstances that may cause actual
results to differ materially. The forward-looking statements in this news
release assume, inter alia, that the conditions for completion of the sale of
the assets including shareholder and regulatory approval, will be met. Although
Century believes that the expectations represented in such forward-looking
statements are reasonable, there can be no assurance that these expectations
will prove to be correct. There are risks which could affect Century's ability
to hold the shareholder meeting on the date established, if at all, including
failure or delay due to general economic conditions in Canada, not satisfying
the conditions of the third party in the sale agreement, the risk that the
required consents and approvals from regulatory authorities will not be
obtained. There are also risks that Century will, if the sale of assets is
consummated, be able to readily identify, acquire or otherwise engage in
suitable energy opportunities with the funds in hand. Forward-looking statements
involve significant risks and uncertainties, should not be read as guarantees of
future performance or results, and will not necessarily be accurate indications
of whether or not such results will be achieved. A number of factors, including
those discussed above, could cause actual results to differ materially from the
results discussed in the forward-looking statements. Any such forward-looking
statements are expressly qualified in their entirety by this cautionary
statement. Readers are cautioned not to place undue reliance on such
forward-looking statements. Forward-looking information is provided as of the
date of this press release, and Century assumes no obligation to update or
revise them to reflect new events or circumstances, except as may be required
under applicable securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Century Energy Ltd.
Jimmy McCarroll
President and CEO
[phone]
[e-mail]
www.centuryenergyltd.com