Century Petroleum updates operations

Century Petroleum Corp. provides an operations update on its High Pressure - High Temperature (HP-HT) project portfolio.

Shadyside #1 (St. Mary’s Parish, LA) started production on January 7th this year. The operator has gradually increased the choke size and production flow rates have increased. On March 2nd 2008, Shadyside #1 was producing at a rate of approximately 2.45MMCFD and 200 BOD on an 11/64 choke.

Century expects Shadyside’s initial revenue distribution during March 2008. The partnership continues to integrate the geological and engineering data to assess remaining exploration potential on our existing lease block. Century has 15.17% working interest in this new field discovery.

Thunder Stud #1 (Calcasieu Parish, LA) encountered both oil & gas on multiple pay horizons. Testing operations were carried out in two intervals of the Yegua formation. One of these intervals was deemed to be non-commercial, whilst the other interval flowed oil and gas at a gross rate of 1,057 MCFD and 456BOPD. In addition, shallower Hackberry sands were found and were deemed to be productive. Partners are expected to drill Thunder Stud #2 confirmation well later this year. The second well will target a sizable geologic structure interpreted to be up-dip of the existing well control.