Perth, Aug 14, 2008 (ABN Newswire) - Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) Announce Blamore 1 is the first well in a planned 7 well programme in 2008 targeting prospective Undiscovered Oil/Gas Initially in Place (UOIIP/UGIIP) at "high" estimate of 260 Mmbbls oil and 4.6 TCFG gas and up to 180 BCFG Helium in conventional reservoirs as well as representing the first phase of exploration for 34-70 TCFG in prospective recoverable Coal Bed Methane resources.

Please refer to earlier announcements for details of the 2008 exploration programme.

Glossaries of oilfield terms are available at the following websites :

http://www.mms.gov/glossary/

http://mjollnir.uib.no/filer/Glossary%20of%20Oilfield%20Terms.pdf

http://www.pennacogas.com/glossary.html

http://www.oglinks.com/glossary.htm

Blamore 1 Report from 0600 hrs 11th August to 0600 hrs 14th August 2008

Preliminary Results : Preliminary interpretation of electric logs at Blamore 1 have indicated a net Permian coal sequence of slightly over 160m, approximately 4 times the net thickness expected. The coal sequences, while being drilled, exhibited a range of high gas readings including peaks up to 233 units (1 unit equals 100 parts per million - ppm) and a range of gases from C1 (methane) to C5 (pentane) suggesting a higher calorific value than typical Coal Bed Methane gases.

This Permian sequence of coals will be further tested in Coal Bed Methane well CBM 93001, the next well to be drilled.

Further results of Blamore 1 will be released when results are available and have been analysed.