Ann: 10.06.04 CTP Exploration Update , page-5

ASX ANNOUNCEMENT ASX CODE: CTP
04 June 2010
TO: The Manager, Company Announcements ASX Limited
CONTACT: John Heugh +61 8 9474 1444
CENTRAL INTERSECTS MORE COAL IN CBM93-002
Central Petroleum Limited (ASX: CTP, Central or the Company) is pleased to announce that Central Petroleums coal seam gas (CSG) and coal exploration well CBM 93-002 was drilling ahead today 4 June 2010 at 0600 hours CAST at a depth of 772m and had intersected a number of coal seams individually up to over 10m in thickness. The well is expected to reach a prognosed TD of 950-1,000m by Monday 7 June 2010 when the well will be logged and a more accurate assessment of coal intersections will be made.
Central holds a 70% interest and is Operator in EP 93, through wholly-owned subsidiary Merlin Energy Pty Ltd, and is in JV with Petroleum Exploration Australia Pty Ltd (20%) and Red Sky Energy (NT) Pty Ltd (10%). CBM 93-002 is located at Latitude 25 Degrees, 21 Minutes, 16.1 Seconds South and Longitude 135 Degrees 26 Minutes, 07.6 Seconds East.
OORAMINNA 2 SPUD
The rigging up of Century Drilling Services Rig 7 is proceeding with the last load of equipment expected to arrive on site by Monday 7 June and the well is now expected to spud by Wednesday 9 June 2010. Ooraminna 2 (2 TCFG high estimate UGIIP) is the first well in a planned 3-4 well programme for 2010 including the 500 MMbbl oil (high estimate UOIIP) Johnstone West 1 prospect and the 800 BCFG (high estimate UGIIP) and 15 BCF helium (high estimate UGIIP) Magee 2 well.
John Heugh
Managing Director
Central Petroleum Limited