Central Petroleum Limited

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) has boosted cash reserves and enhanced the exploration prospects for a major oil play in Australia's onshore Amadeus Basin under new joint venture arrangements announced today.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) announce the quarterly report to September 2008 with detail on exploration activities.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) announces that Hunt Rig 2 was released from the Simpson 1 well site at 0800 Northern Territory time on the 22nd October.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) report that as at 0600 today, the well had reached a current depth of 2,165m in ?Warburton Basin sediments with background gas of c.1 unit. Background gas of c.1-2 units has been recorded since drilling out the casing shoe. Wellsite interpreted top of the Warburton Basin sediments was 2,073m. Electric logging tools are now being run at the wellsite.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) report that as at 0600 today, the well had reached a current depth of 2,073m in ?Warburton Basin sediments with background gas of c.1 unit. Background gas of c.1-2 units has been recorded since drilling out the casing shoe.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) report that as at 0600 today, the well had reached a current depth of 2,077m ?Crown Point Formation sandstones with background gas of c.1 unit. Background gas of c1-2 units has been recorded since drilling out the casing shoe. Wellsite interpreted top ot the Tirrawarra Sandstone was 1,990m and the Crown Point Formation 2,000m.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) report that as at 0600 today, the well had reached a current depth of 1,989m in sandstones with minor siltstones, claystones and coals in the Purni Formation.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) report that as at 0600 today, the drilling had been delayed by blocked jets in the bit, after the well had reached a current depth of 1,899m in the ?top Purni Formation.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) report that as at 0600 today, the well had reached a current depth of 1,899m in the Purni Formation after having intersected 7m of coal from 1,868-1,875m with peak gas increasing to 8 units over this interval over a background of 1-2 units. (100 ppm = 1 unit) C1 of c.80% and C2,C3,C4 and C5 (heavier fractions) of up to c.20% cumulative were recorded over the coal interval.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) report that as at 0600 today, the well had reached a current depth of 1,370m in the ?Algebuckina Sandstone with very minor claystone and siltstone. The wellsite interpreted top of the Algebuckina Sandstone was at 1,189m, ie 46m high to prognosis. Background gas of c.2 units has been recorded since drilling out the casing shoe.