Century Petroleum: Operations Update

HOUSTON, TX ("Century Petroleum" or "the Company") is pleased to provide 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.

Further Information

Shareholders and interested parties are encouraged to visit Century Petroleum's website at www.centurypetrol.com and sign-up to receive news on the company as it becomes available. Otherwise a corporate information package can be requested by contacting shareholder relations at toll-free 1-877-284-8258.

About Century Petroleum Corporation

Century Petroleum Corporation is a publicly traded, dynamic junior oil and gas exploration company currently focused on making significant commercial petroleum discoveries in the Southern States. Century Petroleum Corporation's intent is to build near-term shareholder value by initially focusing its activities in proven domestic hydrocarbon basins. Century Petroleum Corporation trades on the NASD OTC BB under the symbol: CYPE.

Forward-Looking Statements

Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management, including, but not limited to, the Company's belief that Century Petroleum Corp. can identify and successfully negotiate leases for oil and gas properties, and that the Company can participate in the exploration of those properties. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the US Securities and Exchange Commission.

Contact: Century Petroleum Corp. Investor Relations Toll free: 877.284.8258 Email: Email Contact Website: http://www.centurypetrol.com