Central Petroleum Limited

Southern Georgina commencement of the drilling phase of US$78.5 million Stage 1. Palm Valley successful transition of operatorship completed, Dingo Gas Field continues apace with first gas anticipated in the first half of 2015 and Mt Kitty flowed gas at the maximum rate of around 500,000scf per day.

Central Petroleum Limited (ASX:CTP) (OTCMKTS:CTPLY) provide their latest company presentation.

Central Petroleum Limited (ASX:CTP) (Central or Company) has accepted all regulatory conditions clearing the way for the grant of the Dingo Petroleum Production Licence 7 (PL7).

Central Petroleum Limited (ASX:CTP) (OTCMKTS:CPTLY) Preliminary Gas Composition Results for Mt Kitty

During the Quarter, Central Petroleum Limited (ASX:CTP) announced that it signed agreements to purchase the material onshore assets of Magellan Petroleum Australia Pty Ltd ("the Magellan assets") consisting primarily of the Palm Valley and Dingo fields for $35 million. The deal closed on 31 March 2014. The consideration paid was $20 million cash and approximately 39.5 million shares in Central.

Central Petroleum Limited (ASX:CTP) (OTCMKTS:CPTLF) (Central or Company) has been advised that its Mt Kitty 1 exploration well flowed gas in testing. The preliminary findings were notified by Santos (ASX:STO), the Operator of Amadeus Basin permit EP 125, that the exploration well Mt Kitty 1 reached its programmed total depth of 2,295m in metasedimentary basement.

Central Petroleum Limited (ASX:CTP) had been actively planning its transition from Explorer to Explorer & Producer. That includes ensuring that the Board has the right diversity of skillsets and sufficient independent directors to guide the Company's next stage of development.

Central Petroleum Limited (ASX:CTP) present the company's latest Company Presentation including recent achievements, and immediate expectations for the near term production.

Following the completion of the acquisition of the Palm Valley and Dingo gas fields from Magellan yesterday, Central Petroleum Limited (ASX:CTP) provides the following update on our other properties.

Central Petroleum Limited (ASX:CTP) (OTCMKTS:CPTLF) ("Company" or "Central") has completed the purchase of the material onshore assets of Magellan Petroleum Australia ("Magellan") consisting primarily of the Palm Valley and Dingo fields near Alice Springs.