announcement out

ASX ANNOUNCEMENT & PRESS RELEASE ASX CODE: CTP
21 September 2011
TO: The Manager, Company Announcements ASX Limited
CONTACT: John Heugh +61 8 9474 1444
Additional $5.5 Million Capital Raising via an Underwritten Share Purchase Plan (SPP)
Central Petroleum Ltd (Central) (ASX:CTP) is pleased to advise that the SPP announced to the market on 15 September 2011 will be underwritten by Patersons Securities Limited to $5.5 million.
A range of institutional, sophisticated and professional investors subscribed to 91 million shares offered to them by Central, raising approximately $5 million.
The money will finance the exploration strategy planned for the coming year, as detailed in earlier announcements.
"The fact that these highly experienced professional investors applied for the shares goes to show the confidence they have in Central's future prospects," said Managing Director John Heugh.
Central is now offering its own shareholders the right to participate in the SPP on the same terms as the stockbrokers (5.5 cents per share). "It's only fair that those investors who have stuck by us till now, should have the benefits offered to the professional market," said Mr Heugh.
The record date to establish those shareholders entitled to participate in the SPP is 14 September 2011. The Opening date of the SPP is 26 September 2011 and the closing date is set for 20 October 2011.
More complete details of the plan and application forms are being sent to all entitled shareholders and a copy of the plan details will also be posted on the Companies Announcement Platform shortly.
The capital raised from the SPP and the placement will be used to progress Central?s drilling strategy and to provide working capital.
John Heugh
Managing Director
Central Petroleum Limited