Central Petroleum Limited

Central Petroleum Limited (ASX:CTP) advises that it is currently investigating options to maximise shareholder value of its extensive early stage coal discoveries in central Australia through a separate listing of these assets.

Central Petroleum Limited (ASX:CTP) advises that Terrex Seismic has been awarded the contract to acquire 82 km2 of 3D seismic data over the Surprise structure in EP-115 in the Amadeus Basin, Northern Territory.

Central Petroleum Limited (ASX:CTP) has become aware of certain press speculation in which Hess Corp is stated to be a preferred farm-in partner for the Company. Hess Corp is a large internationally recognised oil & gas company with interests onshore Australia, however, the Company currently has no preferred farmin partners.

Central Petroleum Limited (ASX:CTP) advises that it has completed an institutional placement of $11 million through the issue of 130 million new shares at 8.5 cents per share. The placement was completed at a 6% discount to the 5-day VWAP of Central's shares.

Central Petroleum Limited (ASX:CTP) advises that a short research report courtesy of Patersons Securities Limited can be found on the Company's website.

Central Petroleum Limited (ASX:CTP) has become aware of certain public statements made whereby various shareholders will be seeking to requisition the Company to call and arrange a general meeting for the replacement of three of the Company's four directors

Central Petroleum Limited (ASX:CTP) 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.

Central Petroleum (ASX:CTP) is a play on the rapidly emerging hydrocarbons prospectivity of the central Australian sedimentary basins. Much of the region is effectively frontier territory. CTP has probably the largest contiguous 100% owned acreage position in any developed country, with a substantial potential oil and gas and coal resource base. Importantly, CTP recently announced that oil was successfully flow tested at its Surprise well in the Northern Territory. We believe CTP's resource base has company maker potential possibly along the lines of Santos in the Cooper Basin.

The Directors present their report on the consolidated entity consisting of Central Petroleum Limited (ASX:CTP)and the entities it controlled at the end of, or during, the half year ended 31 December 2011.

Central Petroleum Limited (ASX:CTP) are pleased to provide an updated company presentation regarding the transition into production.