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Central Petroleum Ltd, Update of Operations

Central Petroleum Limited (“Central”) advises that the Kintore bypass road, to be used in connection with transport supporting the Extended Production Test (“EPT”) is nearing completion, and planning for the commencement for the EPT itself, including storage tank lease is well advanced.

Furthermore, the 3D and 2D seismic programs over the Surprise field in EP 115 and the 2D seismic over the Pellinor Reef play in EP 97 are at final design stage. It is aimed to acquire the 3D seismic over Surprise before the commencement of the EPT so as to avoid seismic interference.

Central has also recently implemented a new initiative to expedite and promote our farmin opportunities so as to spread risk and reduce expenditure, with encouraging results to date.

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