Company Information for Central Petroleum Ltd

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ASX; CTP

Company Statement

Central Petroleum is an ASX listed junior exploration and production company operating over 250,000 km2 regarded as the biggest package of prospective acreage in Australia.

The Company’s main goal is to maximise shareholder returns by enhanced share value and potentially by dividend payments. It aims to operate a central Australian petroleum hub connected to appropriate infrastructure to allow the export to domestic and overseas markets of both primary energy resources and value added petroleum and helium products.

The Company plans to potentially capitalise on early cash flow from any oil discoveries but is seeking to build gas resources to a threshold point where value-adding processes such as LNG and or GTL for example can be brought into play. Helium production and sales are regarded as an intrinsic part of this overall strategy. Apart from conventional gas reservoir potential, the Company has had independent estimates of over 10,000 trillion cubic feet in UCG “syngas” prospective recoverable resources and as well has produced inhouse estimates coupled with external independent reports of up to c.200 trillion cubic feet of gas in CSG and other unconventional reservoirs. Prospective recoverable resources of oil are in the billion barrel class.

The acreage includes the majority of the Pedirka Basin in the Northern Territory and in South Australia, the majority of the Amadeus Basin in the Northern Territory, all of the known Lander Trough in the Northern Territory and approximately 10,000 km2 of the Southern Georgina Basin.

The Company was formed by Mr John Heugh and Mr Richard Faull in 1998 in a countercyclical strategy aimed at securing large acreage tracts with very large targets in prospective areas of strategically well placed parts of central Australia and later to examine potential for the monetization of gas resources via Gas to Liquids (GTL) Fischer Tropsch technology in the production of zero sulphur diesel, naphtha and jet fuel.

Operations and Technology

Proven prospectivity- ground surrounds 2 producing fields Mereenie, Palm Valley (Santos/Magellan JV)
Billion barrel oil, multi TCF gas and multi BCF Helium* conceptual potential
Trillion tonne coal UCG/CSG potential ( Maynard 2009)
> 10,000 TCFG prospective syngas resources from UCG applications ( Mulready 2009)
1.25 trillion GTL middle distillate (diesel) prospective resources from UCG syngas ( Mulready 2009)
Dominant position in 4 whole basins
Conventional and Non-conventional plays
Underexplored-well density 1/5,000 km2
Proven Helium potential with previous flow to surface with Helium at 6.3%
Helium currently sells for c. $100/mcfg versus natural gas in Australia at c.$3-5/mcfg

The Company plans, subject to various contingencies, a robust exploration programme to commence Q4 2009 including :

Phase One 2009

5 fully cored CSG wells Pedirka Basin (34-70 TCFG prospecitve resources CSG, >10,000 TCFG UCG)
flow testing CBM93001
GoreTM survey Johnstone (c.900 MMbbls UOIIP)
Ooraminna-2 gas, directional appraisal well 2 TCFG UGIIP- already flowed gas
1,350 line km seismic (Amadeus and Pedirka)

Subtotal $25 million, CTP $16 million

Phase Two 2010

3- 8 conventional wells (Amadeus Basin) :
Johnstone-1 oil up to 998 MMbbls MMbbls UOIIP Ordovician (Mereenie style) and other horizon
Magee-2 gas, condensate, Helium 0 subsalt
Waterhouse-3 gas, 2.0 TCFG UGIIP
Mt Kitty-1 gas, condensate, Helium 3 TCFG, 180 BCFG Helium UGIIP- 430 km2 subsalt

Subtotal $16-40 million, CTP $8-18 million

This conditional programme proposal is solely Central’s in-house proposal and has not been presented to or discussed with current Joint Venture partners. It is subject to appropriate farmin partners, capital, contingencies and approval or modification at OPCOM meetings yet to be held. It is to be noted that PXA, now owned by QGC which is now a BG Group business does not currently endorse the concept of UCG and so, any reference to UCG exploration and production has not been approved by the current Joint Venture with BG.

In summary, Central Petroleum holds and operates a highly prospective portfolio of under explored onshore acreage, with a variety of exploration plays spread over a number of basins, one of which hosts producing fields. Very importantly, it seems no longer the case that only the very large discoveries can be economically developed.

Geographical Spread

Board of Directors and Key Management

Directors
Dr. Henry Askin	Non-Executive Independent Chairman
Mr John Heugh	Managing Director
Richard Faull	Non-Executive Director
Mr William Dunmore	Non-Executive Director Commercial Development and Production

Senior Management
Mr Bruce Elsholz	Chief Financial Officer and Joint Company Secretar
Mr Daniel White	Joint Company Secretary
Mr Gregory Ambrose	Manager - Geology
Mr Timothy Green	Drilling Operations and Production Manager
Mr Stewart Bayford	Exploration Manager

Company Address

Suit 3, Level 4, Shoutshore Centre, 85 The Esplanade
South Perth, South Australia, Australia WA 6151


Telephone:	+61 8 9474 1444
Website:	http://www.centralpetroleum.com.au/

Capital

CTP Quote

Year End

30th June

Nominated Brokers

Patersons Stockbroking Level 23, Exchange Plaza, The Esplanade, Perth Western Australia 6000
Phone : +61 8 9263 1111
patersons@psl.com.au

Nominated Advisors

Patersons Stockbroking Level 23, Exchange Plaza, The Esplanade, Perth Western Australia 6000
Phone : +61 8 9263 1111
patersons@psl.com.au

Broker/Analyst Reports

01/06/09 - Martin Place Securities

Major Shareholders

Top Ten Shareholders
Rank	Name	Address	Units	% of Units

1	AVATAR EQUITIES PTY LTD	97 THE ESPLANDE, MOUNT PLEASANT WA, 6153	17,486,514	3.03
2	NATIONAL NOMINEES LIMITED	GPO BOX 1406, MELBOURNE VIC, 3001	10,800,915	1.87
3	GASCORP AUSTRALIA PTY LTD	LEVEL 21, 500 COLLINS STREET, MELBOURNE VIC, 3000	10,000,000	1.73
4	STRATA RESOURCES LTD	LEVEL 21, 500 COLLINS STREET, MELBOURNE VIC, 3000	10,000,000	1.73
5	ULTRAGAS PTY LTD	LEVEL 21, 500 COLLINS STREET, MELBOURNE VIC, 3000	10,000,000	1.73
6	ADVENT ENERGY LTD	PO BOX 317, NORTH PERTH WA, 6906	6,250,000	1.08
7	RBJ NOMINEES PTY LTD	PO BOX 295, APPLECROSS WA, 6153	6,000,000	1.04
8	COMSEC NOMINEES PTY LIMITED	LOCKED BAG 22, AUSTRALIA SQUARE NSW, 1215	5,874,523	1.02
9	MR JOHN PHILLIP HEUGH	5,683,803	0.99
10	UBS WEALTH MANAGEMENT AUSTRALIA NOMINEES PTY LTD	GPO BOX 1257L, MELBOURNE VIC, 3001	5,463,000	0.95

Totals: Top 10 holders of FULLY PAID SHARES			87,558,755	15.18
Total Remaining Holders Balance			489,247,586	84.82

Most Recent Statement

18/03/10 - 10.03.18 ROG Announcement of 10.03.12
18/03/10 - 10.03.17 RRI Prospectus and 3B
11/03/10 - Suspension from Official Quotation
05/03/10 - JV Developments
03/03/10 - Notification of Discovery
26/02/10 - Exploration Update CBM107-001

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