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Cautionary Notes and Statements

Forward-Looking Statements
Excluding the material presented by other link sites, which Continental has no control over, this site includes "Forward-Looking statements" within the meaning of the "safe harbor" and other provisions of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this site, including, without limitation, statements contained in this site regarding Continental's financial position, political risks, oil and gas resource and reserves estimates, oil and gas prices, production projections, economic evaluations, development plans, cost estimates, business strategy, plans and objectives of Continental's management for future operations, and industry, political and economic conditions, are Forward-Looking statements. Although Continental believes that the expectations reflected in such Forward-Looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. All written and oral Forward-Looking statements attributable to Continental or persons acting on its behalf are expressly qualified in their entirety by the cautionary statements disclosed in this and the following two paragraphs and otherwise on this site.

Industry Specific Risks and Forward-Looking Statements
Any Forward-Looking statements herein are subject to certain risks and uncertainties inherent in petroleum exploration, development and production, including, but not limited to the risk that no commercially productive oil and gas reservoirs will be encountered; the risk that acquisitions of additional producing properties may not be feasible, or that such acquisitions may not be profitable; inconclusive results from seismic projects; delays or cancellation of drilling operations as a result of a variety of factors; volatility of oil and gas prices due to economic and other conditions; intense competition in the oil and gas industry; operational risks (e.g., fires, explosions, blowouts, cratering and loss of production); insurance coverage limitations and requirements; and potential liability imposed by governmental regulation of oil and gas production; all of which are beyond the control of Continental. Any one or more of these factors could cause actual results to differ materially from those expressed in any Forward-Looking statement.

Political and International Risks and Forward-Looking Statements
Any Forward-Looking statements herein are subject to certain risks and uncertainties inherent in the fact that Continental conducts almost all of its petroleum exploration, development and production activities overseas and in particular in Indonesia, including, but not limited to the political risks of Islamic fundamentalism, terrorism, indigenous peoples issues, local traditions, foreign currency exchange, local market fluctuations, local economic conditions and other political risks including local, regional and national government regulation of oil and gas industry activities and concession terms; all of which are beyond the control of Continental. Any one or more of these factors could cause actual results to differ materially from those expressed in any Forward-Looking statement.

Applicable Laws
Continental controls this site from its offices within Canada. Continental makes no representation that materials in this site are appropriate or available for use in other locations, and access to them from territories where their content is illegal is prohibited. Those who choose to access this site from other locations do so on their own initiative and are responsible for compliance with applicable local laws. You may not use or export the materials in violation of Canadian export laws and regulations. Any claim relating to the materials shall be governed by the internal substantive laws of the province of British Columbia, Canada.

Cautionary Note to U.S. Investors
The United States Securities and Exchange Commission ("SEC") permits oil and gas companies in their filings with the SEC to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We may use certain terms on this web site, such as "per well reserve estimates," "gross estimated recoverable reserves" and "forecasted SEC PV10% reserves" that the SEC guidelines strictly prohibit us from including in filings with the SEC.

U.S. investors are urged to consider closely the disclosure in our Form 20-F for our most recently completed fiscal year ended July 31, available by downloading it directly from the SEC's EDGAR database.
www.sec.gov/edgar.shtml

Cautionary Note to Canadian Investors
Continental is a reporting issuer in British Columbia, Canada, and complies with British Columbia Securities Commission ("BCSC") continuous disclosure requirements set forth in National Policy Instrument NI/51-102 and with Standards of Disclosure for Oil and Gas Activities set forth in National Policy Instrument NI/51-101. Continental's quarterly financial statements filings under BCSC form 51/901F are available by download from the BCSC's SEDAR database.
www.sedar.com

Cautionary Note to All Investors about "Reserves" and "Resources" Classifications
There is often much confusion and uncertainty about the terms "Reserves" and "Resources" even among technical professionals within the oil and gas industry. There are many commonly used subcategories of "Reserves" and "Resources" the definitions of which may vary widely from individuals within a single company, company to company, state to state and country to country. To add to this confusion different sub-classifications of "Reserves" and "Resources" are often unrisked or risked according to varying factors. Securities regulators and financial institutions often recognize or apply an even different set of definitions. Recently the Society of Petroleum Engineers ("SPE"), World Petroleum Counsel ("WPC") and American Association of Petroleum Geologists ("AAPG") have formed a steering committee to attempt to harmonize "Reserves" and "Resources" definitions, classifications and sub-categories. Even after the SPE/WPC/AAPG committee adopts or recommends a harmonized system for defining and classifiying Reserves and Resources it may be some time before universal acceptance results in widespread implementation. Therefore Continental urges all investors considering oil and gas investments to treat Reserves and Resources with the foregoing in mind and search out the definitions and qualifications that any specific oil and gas company under consideration may use it preparing its Reserves and Resources estimations.

Continental Energy Corporation
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