Central Petroleum (ASX:CTP) Provide Exploration And Drilling Program Update

Brisbane, Mar 15, 2008 (ABN Newswire) - Central Petroleum (ASX: CTP) Provide Exploration Update 140308

1. Access roads have been constructed to both the Blamore and Simpson well locations with the road building crew reaching Simpson this morning.

2. Underdale water well drillers have been mobilized and are expected to be on site by the coming Monday 17th March with first water by the following Friday the 21st March. The water is necessary to complete the access road for the drilling rig

3. An onsite-while-drilling inspection of Hunt Rig #2 has been completed by Central's GM Drilling, Operations and Production, Randy Frazier and it has been deemed fit for purpose with the final detailed drilling contract to be executed shortly.

4. Hunt Rig #2 has been released early from the Holloman Corporation programme in the Cooper Basin so it is possible that the planned spud date of April 25th for Blamore 1 may be brought forward with a final decision to be made after an onsite inspection of road access planned over the next few days.

5. Terex Contracting has been mobilized to the Pedirka and are expecting to commence line clearing over the Guinevere, Vivienne and Madigan prospects during the coming week.

6. Terex Seismic are expected to complete seismic acquisition over the Magee gas-Helium-condensate prospect in the Amadeus Basin this coming weekend and will enter a short period of standdown to allow the line clearing crew to gain a suitable lead time to avoid equipment operations during line clearing interfering with the seismic acquisition.

7. The first processed lines from the Johnstone, Surprise and Stuart prospects in the oil exploration permit EP 115 have been returned from Fugro with surprisingly good quality results and the results gained thus far have further validated the structures concerned.