Central Petroleum Limited

Central Petroleum Limited (ASX:CTP) announce the quarterly report with the following major highlihts. CTP entered into a farmout deal with Santos which results in a free carry for Central, subsequent to the end of the Quarter Central announced a settlement with Century Energy Services Pty Ltd, first oil to market from the Surprise Extended Production Test ('EPT') and planning for further exploration and appraisal work at and around the Surprise prospect.

Central Petroleum Ltd (ASX:CTP) advises that it has settled the arbitration proceedings with Century Energy Services Pty Ltd and MB Century Pty Ltd

Central Petroleum Limited (ASX:CTP) Notice of Annual General Meeting/Proxy Form to be held from 10:00am (Brisbane time) 29 November 2012 at Central Petroleum Limited 56 Jephson Street, Toowong, Queensland 4066.

Central Petroleum Limited (ASX:CTP) announced today a joint venture with partner Santos Limited (ASX:STO) (Santos) spending up to A$150 million for the further exploration and potential development of up to 13 permit/application areas in the Amadeus and Pedirka Basins in central Australia.

Central Petroleum Ltd (ASX:CTP) (PINK:CPTLF) advises that the Northern Territory Department of Mines and Energy has approved a three (3) month extension of the Company's Extended Production Test being carried out at the Surprise -1 Re-entry H ST1 well.

Central Petroleum Ltd (ASX:CTP) advises that it has submitted an application letter to the Northern Territory Department of Resources (NTDOR) for a Production Licence (PL) around the Surprise 1REH ST1 discovery well. Given the results of the Extended Production Test to date, the Company believes it has enough data to justify the application for a PL.

Central Petroleum Limited (ASX:CTP) advises that a research report from DJ Carmichael can be found on the Company's website.

Central Petroleum Limited (ASX:CTP) are pleased to provide the MD's Letter to Shareholders, discussing Surprise EPT commenced - first oil to market, Farm out discussions and Notice of Investor Briefings.

Central Petroleum Limited (ASX:CTP) advises that the first load of oil from the Surprise 1 REH ST1 well has left location en-route to market. A Crude Oil Sales Purchase Agreement has been signed under which the crude will be sold. The well is performing as expected under the EPT program protocols. The term of the initial agreement was determined by the length of the EPT, which is 3 months.

Central Petroleum Ltd (ASX:CTP) advises that all resolutions considered at the Company's General Meetings held 12.00 noon and 2.00pm on 22 June 2012 were passed with the requisite majorities by way of a poll.