from the australian investor

Central Petroleum is also in a solid position for 2009 as it is strategically positioned with the largest acreage portfolio in Australia – comprised of 50 million acres 100% operated - which represents one of the biggest underexplored single country exploration packages under single operatorship in the world.

Mr. John Heugh, Central Petroleum’s Managing Director informed the Australian Investor, “In regards to our exploration we have taken the appropriate steps with government departments to ensure that we can, if necessary, undertake the minimum amount of exploration so that we are able to retain our solid cash reserves in this challenging time.”

This is a cautionary position as the Company has emerged from this financial crisis with more than enough funds to keep it running for the next several years.

Mr. Heugh told the Australian Investor, “While we await our joint venture partner’s conclusions on the study of new data acquired in 2008, we are focused on finding an appropriate joint venture partner or partners that will compliment the strategic partnerships we already have in place and enable us to increase our exploration activity.

“We believe Central Petroleum’s outlook for the short term is steady and for the longer term we think it is brilliant. We are strategically positioned with an extensive land package in an area that partially surrounds producing fields that have continuously been in production since the mid 1980s. Plus, we have the team to make the most of this position and a market, in the medium to long term, where demand is increasing. As a result, we are excited by the future for Central Petroleum and believe we will overcome the current volatility in the market, with excellent far reaching results.”

For more information on Central Petroleum CLICK HERE: http://www.australianinvestor.com.au/linkt.aspx?id=326