Continental Energy Invited to Make Presentation at Small Cap Conference Sponsored by Flaherty Financial News and Wall Street Research

DALLAS, June 4 /PRNewswire-FirstCall/ -- Continental Energy Corporation ("Continental" or "the Company") (OTC Bulletin Board: CPPXF) announced today that it has been invited to be one of twelve NASDAQ, American Stock Exchange and OTCBB companies making presentations at a Small Cap Conference at The Penn Club of New York, 30 West 44th Street, New York, NY, on June 5, 2007.

This invitation came after Continental announced that it had spudded the Sebaraba-1 well, the first of a four well exploration drilling program in its Bengara-II Production Sharing Contract area in East Kalimantan, Indonesia.

The conference is sponsored by Flaherty Financial News and Wall Street Research. Wall Street Research specializes in the Micro-Cap and Small Cap arena looking for emerging growth companies with strong management, unique business strategies, significant market potential, value, financial strength and the potential for outstanding long-term earnings growth.

Continental's presentation will be from 1:30 p.m. to 1:55 p.m. CPPXF shareholders are welcome to attend. During the one day conference the Company's CFO, James D. Eger, will be interviewed by American Scene Radio host, Steve Crowley, formerly the Money Editor of ABC's Good Morning America. CPPXF shareholders are welcome to attend.

Commenting on the presentation, the Company's CEO, Richard L. McAdoo, stated, "We are looking forward to telling our story to the New York investment community. We are now executing our strategy of exploring for large oilfields in Indonesia and are excited about our chances of finding "company maker" fields of 100 million barrels and larger through our current drilling program. Our partners in the Bengara-II Block include CNPCHK Indonesia, a wholly owned subsidiary of the China National Petroleum Company's Hong Kong unit (0135.HK), and GeoPetro Resources (GPR).

About Continental Energy Corporation:

Continental Energy Corporation is a small oil and gas exploration company, focused entirely on making a major oil or gas discovery in Indonesia. For further information, please visit our web site at http://www.continentalenergy.com.

No securities regulatory authority has either approved or disapproved the contents of this news release.

Certain matters discussed within this press release may be forward- looking statements within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Although Continental believes the expectations reflected in such forward-looking statements including reserves estimates, production forecasts, feasibility reports and economic evaluations are based on reasonable expectations and assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include financial performance, oil and gas prices, drilling program results, regulatory changes, political risk, terrorism, changes in local or national economic conditions and other risks detailed from time to time in Continental's periodic filings with the US Securities Exchange Commission.

SOURCE Continental Energy Corporation