second jv , page-6

DJ Carmichael

[1] Second farm-out provides substantial, near term upside.

CTP expects to finalise its second farm-out deal in early 4Q 2012. Current guidance is that the second farm-out deal
could be at a significantly higher multiple than today s transaction.

This provides a highimpact, near term catalyst. Going forward, CTP plans to retain a material interest of 70% in
its permit areas.


[2] Management delivering, takeover premium to be applied. Today s deal confirms
management is delivering as promised and we believe a takeover premium to CTP s share
price will be applied.


[3] CTP being an attractive takeover target due to CTP's significant and focused acreage position
(44m acres) and Richard Cottee's history of developing world class assets.


[4] Another High Impact Farm-out expected in Early 4Q 2012
CTP expects to finalise its second farm-out deal in early 4Q 12.
Current guidance is that the secondfarm-out deal could be at a significantly higher multiple than today s transaction.

This provides a highimpact, near term catalyst. Going forward, CTP plans to retain a material interest (70%) in permit
areas with the key criteria to future farm-out agreements being:


The Australian


[5] Mr Cottee said he was working on another joint venture deal that would cover a portion of Central's remaining 100 per cent-owned acreage.

"If that comes together, the company is going to be in an incredibly strong position to commercialise a lot of its acreage," Mr Cottee told The Australian.

He said the second deal would mean around 30 per cent of Central's entire acreage holdings would be under joint venture.

Central shares rose 3c to 16.5c.
.

[6] Santos after JV Permit Administrator


[7] Upcoming WebCasts



Mr Reg Nelson MD
Beach Energy
Monday, November 26, 2012



Mr Neil Doyle
Oil Basins Limited
Monday, November 26, 2012



Mr Barry Dawes
Martin Place Securities
Monday, November 26, 2012



Mr Richard Cottee CEO
Central Petroleum Ltd
Monday, November 26, 2012