Continental Energy Names New Chief Geophysicist

DALLAS, March 19 /PRNewswire-FirstCall/ -- Continental Energy Corporation (OTC Bulletin Board: CPPXF) today announced today that it has named Robert J. Paul to the post of Chief Geophysicist for the company.

Robert has 28 years of experience in oil and gas exploration, the last 17 in Indonesia. He has worked in various geophysical exploration capacities with Lundin Oil and Gas, Santa Fe Energy Resources, Petromer Trend, Halliburton, Esso Australia, and BP Canada.

He obtained a Bachelors degree in Geophysics from the University of Alberta (Canada) and a Masters Degree in Geophysics from University of Queensland (Australia).

Robert will be based in Continental's Jakarta office where he will be the lead geophysicist and part of a technical team dedicated to identifying, evaluating, and acquiring new oil and gas properties. Continental's new ventures team is currently evaluating new opportunities in Indonesia and the surrounding region.

Robert's duties will also include evaluation of new block acquisitions in Indonesia within a defined area of mutual interest covered by Continental's CGX joint venture group. He will also advise Continental on 3D seismic acquisition planned for the Bengara-II Block.

Continental's Exploration Manager, Drew Eriksson, said of the hiring from Jakarta: "With current oil prices the oil and gas exploration and production business is booming worldwide and competition is heating up for talent and for properties. Robert is a welcome addition to the Continental team. He brings a vast amount of relevant and recent experience that greatly expands our knowledge of SE Asian regional oil and gas opportunities. He gives us additional capability to quickly prioritize and evaluate the many opportunities out there right now. He will be a real asset and a key player in the future development of the company."

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 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