Central Petroleum Ltd (ASX:CTP) (“Company”) has been advised...

Central Petroleum Ltd (ASX:CTP) (“Company”) has been advised that the Federal Minister
for Indigenous Affairs has today approved the agreement reached between the Company
and the Central Land Council on behalf of the Traditional Owners, reached on 11th
December 2013. This together with the letter of no objection sent to the Northern Territory
Government clears the last major hurdle required to the issuance of the Production Licence.
The Company is presently seeking guidance from the Northern Territory as to the time
required to process the application before the Production Licence will be actually issued but
is unaware as to any impediment to it being granted expeditiously.

All necessary equipment to work-over Surprise West and to install the pump on Surprise
West is at Alice Springs (some 200km east of Surprise) awaiting final permitting and
abatement in the weather. More than 300mm of rain has fallen in the Surprise area (an area
in which the average annual rainfall since 2001 is only 250mm) which may have a minimal
effect on the commencement of the first production.