Central Petroleum Limited

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.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) report that at 0600 this morning preparations were being made to cement in place an intermediate string of 7" casing at 705m near to the top of the Permian coal bearing Purni Formation. Background gas of c.6 units (560 ppm) maximum including c1 to c4 gases have been recorded to date in overlying sediments.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) announce that at 0600 this morning the well had been drilled to 705m with preliminary wellsite interpretation putting the top of the Permian Purni target formation for Coal Bed Methane (CBM) evaluation at 696m.Preparations were being made to drill set an intermediate string of 7" casing at 705m.

Central Petroleum Limited's (ASX:CTP)(PINK:CPTLF) Announce drilling report 010908 CBM93001. At 0600 this morning the well had been drilled to 280m in the Winton Formation and preparations were being made to drill ahead after setting 9 5/8" casing.