Central Petroleum Limited

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) report that as at 0600 today, the well had reached a current depth of 861m in the Bulldog Shale, predominantly claystone.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) report that the well is targeting Undiscovered Oil Initially In Place of up to 190 MMbbls ("high" estimate UOIIP) in the Jurassic Algebuckina and Poolowanna Formations and the Permian Tirrawarra Formation.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) report that the well is targeting Undiscovered Oil Initially In Place of up to 190 MMbbls ("high" estimate UOIIP) in the Jurassic Algebuckina and Poolowanna Formations and the Permian Tirrawarra Formation. Depending on depths encountered, it is possible the total depth of the well may test the top of the transgressive sand and shale C horizon of the Devonian carbonate platform play.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) report the well is targeting Undiscovered Oil Initially In Place of up to 190 MMbbls ("high" estimate UOIIP) in the Jurassic Algebuckina and Poolowanna Formations and the Permian Tirrawarra Formation. Depending on depths encountered, it is possible the total depth of the well may test the top of the transgressive sand and shale C horizon of the Devonian carbonate platform play.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) is participating in a recently announced Northern Territory (NT) government package to aid companies wishing to conduct exploration in little known areas. A copy of the NT government release is below.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) announce the Simpson 1 Drilling Report on the Rawson Resources Limited (RAW) and Petroleum Exploration Limited (PXA unlisted) Joint Venture 190 MMbbls ("high" estimate UOIIP).

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) has today spudded Simpson 1, approximately 100km to the southeast of the recent successful Coal Bed Methane well, CBM93001. The well is targeting Undiscovered Oil Initially In Place of up to 190 MMbbls ("high" estimate UOIIP) in the Jurassic Algebuckina and Poolowanna Formations and the Permian Tirrawarra Formation. Depending on depths encountered, it is possible the total depth of the well may test the top of the transgressive sand and shale C horizon of the Devonian carbonate platform play.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) announce the opportunity to listen to an audio broadcast with Mr John Heugh, MD in a presentation titled "CTP - Promising Results and Potential Partners - Mr John Heugh, MD".

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) has begun to tear down Hunt Rig #2 for the shift to the site of Simpson 1, approximately 100km to the southeast where it is targeting Undiscovered Oil Initially In Place ("high" estimate UOIIP) in the Jurassic Algebuckina and Poolowanna Formations and the Permian Tirrawarra Formation. Depending on depths encountered, it is possible the total depth of the well may test the top of the transgressive sand and shale C horizon of the Devonian carbonate platform play. The spud date of Simpson 1 is anticipated to be by 28th September 2008.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) advise that it is clear from comments of various shareholders that there is some confusion in the market over the announced results from CBM93001 made on Friday 19th September. The following statements attempt to clarify matters.