announcement out

ASX ANNOUNCEMENT/PRESS RELEASE ASX CODE: CTP
25 October 2010
TO: The Manager, Company Announcements ASX Limited
CONTACT: John Heugh +61 8 9474 1444
PRESENTATION
AT THE SMI GAS TO LIQUIDS CONFERENCE
LONDON
Central Petroleum Limited (ASX:CTP) (?Central?), as Operator, has pleasure in
announcing the presentation due to be given this week at the SMI GTL (Gas to Liquids)
conference in London, United Kingdom, by John Heugh, Managing Director of Central.
Mr Heugh will tell the conference of his Company?s experience to date in the vast
acreage operated by the Central in the Northern Territory, including the exploration of
one of Australia's biggest coal Exploration Targets.
Central will be reporting on the progress of its current programme to the London
conference which begins this Wednesday.
The talk will also set out the proposed intensive exploration programme for 2011. This,
as well as targeting key oil prospects is planned to provide further detail on key coal
qualities and thicknesses over a much larger area than that drilled to date. An imminent
4 well stratigraphic coal programme in the Pedirka Basin has been delayed due to
unseasonal heavy rain but is expected to commence in the next few weeks.
"We will also be presenting some conceptual ways to monetise the coal, especially
very large scale CTL, from coal to gas to liquid transport fuels," said Mr Heugh. "We
envisage the possibility of 200,000 barrels a day to effectively capture the economies
of scale that we think we may be able to effectively implement in this remote area."
SMI's annual GTL conference will also have keynote speeches by senior managers
from Shell, BP and Total.
On the eve of his departure for London Mr Heugh said that the Johnstone West Well -1
(JW-1) and the new Surprise well (S-1) had spudded in the most difficult of
circumstances.
"We are working in some of the world's harshest conditions, with no dedicated
petroleum industry support bases in central Australia," explained Mr Heugh, "But I think
that despite this, and unseasonal rains recently, the progress being made has been
remarkable-three out of four conventional wells drilled by the Company to date in 2008
and 2010 had significant oil shows and one flowed gas to surface. ?Far bigger
companies than Central have taken longer to come up with similar results in various
basins in a global context?
"We have always been positive about the possibilities of finding oil and gas in this
province," said Mr Heugh. ?The continued development of GTL technology and the
consolidation of higher oil prices add considerably to the potential value of any gas
discoveries in central Australia?.
"The purpose of this London conference is to exchange knowledge and information
between the leading companies in this field which promises so much. This is the
thirteenth such conference and in those years the advances have been enormous."
GTL is re-emerging as a key strategy in the oil and gas industry with two large scale
developments due to be commissioned this year. The conference has attracted record
interest from oil company executives, boosted by the firming of the oil price in recent
weeks.
John Heugh
Managing Director
Central Petroleum Limited