Central Petroleum Limited

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.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) announce CBM93001 to be suspended and completed as a potential CBM gas producer.

Central Petroleum (ASX:CTP)(PINK:CPTLF) Various gas peaks associated with Purni Formation Coals continued. After intersecting possible Tirrawarra Formation at 1209m, and then reaching kelly down of 1218.3m, after making connection and drilling ahead, high connection gas of c.172 units including C1to C5 was recorded.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) report that at 0600 this morning, DST #1 had tested coals over the interval 798.2 to 810.5 with very good preliminary indications of permeability (ability to flow). Further detail will be released as and when it is available.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) report that at 0600 this morning, after waiting on replacement parts for DST Australia DST equipment and Security DBS coring equipment it is anticipated that DST#1 will be completed today and that coring operations will re-commence.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) report that at 0600 this morning the well had reached a TD of 811m having drilled through approximately 7-9m of coal with good cleating and evidence of fracturing. Preparations are in hand to conduct a bottom hole drill stem test (BHT DST) on the coal intersection to measure permeability (ability to flow fluids). Elevated gas readings up to 8 units including C1 to C3 were recorded while drilling the coal, representing 4 times background gas of 2 units.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) report that at 0600 this morning following further delays in wireline coring acquisition, due to drilling contractor and service company operational matters, the well had reached a total depth (TD) of 795m in the Permian coal bearing Purni Formation.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) report that at 0600 this morning following some delays in wireline coring acquisition, due to a broken latchkey, the well had reached a total depth (TD) of 774m in the Permian coal bearing Purni Formation.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) report that at 0600 this morning drilling ahead in the Permian coal bearing Purni Formation was expected to commence by 0900 NT time. Overnight problems with the BOP stack had delayed the anticipated commencement of drilling. It is expected that the section will be drilled and drill stem tested over the next few days.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) report that at 0600 this morning preparations were being made to run in to the hole to drill ahead in the Permian coal bearing Purni Formation. It is expected that the section will be drilled and drill stem tested over the next few days.