Century Energy Updates Vawn Prospect

THIS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES.


Century Energy Ltd (TSX VENTURE:CEY) ("Century" or the "Company") announces that
it has suspended operations on its Vawn 10-30 well due to having encountered
heavy water flows and only marginal amounts of oil which is not uncommon in the
nearby Edam Pool where large water volumes often precede oil inflow. The Company
is conducting an operational and technical review to determine the feasibility
of producing from this well bore and the 18 meters of heavy oil pay confirmed by
logging operations conducted in December, 2011. The Company and its 50% partner
believe there could be a significant, although currently problematic resource
still to be developed on this property. Potential solutions available to the
Company include installing a larger pump to overcome the water production
problem, drilling an offset well in a structurally more favorable up-dip
position, or if the well will not produce on cold flow and there are sufficient
reserves to justify the cost, undertaking a thermal project to increase the
mobility of the oil. All of these options and other projects are being actively
evaluated by Century's Board and Management with the goal of increasing
shareholder value.


More information concerning the Vawn Prospect can be found on the Company's web
site at www.centuryenergyltd.com. Century Energy is an oil and gas exploration
company pursuing opportunities in Canada and the United States.


This news release may contain certain forward-looking statements, particularly
those relating to management's assessment of timing for completion of production
testing. The assessment for timing involves risks and uncertainties, certain of
which are beyond the Company's control. Such risks and uncertainties include,
without limitation, risks associated with oil and gas development, exploitation,
production, and the inability to retain or delays arising from, obtaining
drilling rigs and other related services. Century's actual results in production
testing and timing for completion thereof could differ materially from those
expressed in, or implied by, these forward-looking statements and, accordingly,
no assurances can be given that any of the events anticipated by the
forward-looking statements will transpire or occur and what benefits, if any,
the Company will derive there from. Readers are cautioned that the foregoing
list of factors is not exhaustive. All subsequent forward-looking statements,
whether written or oral, attributable to the Company or persons acting on its
behalf are expressly qualified in their entirety by these cautionary statements.
Furthermore, the forward-looking statements contained in this news release are
made as at the date of this news release and the Company does not undertake any
obligation to update publicly or to revise any of the included forward-looking
statements, whether as a result of new information, future events or otherwise,
except as may be required by applicable securities laws.