CENTRAL PETROLEUM LIMITED — Board/Management Information 2012

Mar 25, 2012

ASX ANNOUNCEMENT & MEDIA RELEASE

==> picture [585 x 94] intentionally omitted <==

ASX CODE: CTP

26 March 2012

CHANGES IN KEY MANAGEMENT PERSONNEL

Central Petroleum Limited (ASX:CTP) (“Company”) advises that it has terminated the employment of Mr John Heugh. Mr Heugh has commenced an action in the Supreme Court of Western Australia against the Company disputing the Company's termination of his employment. The Company will defend the action vigorously.

Mr Heugh remains a non-executive director of the Company.

Mr Dalton Hallgren moves from his role as Chief Operating Officer to the role of Acting Chief Executive Officer.

Ends

For further information, please contact:

Dalton Hallgren, Acting CEO +61 8 9474 1444 Ray Beatty, Corporate Writers +61 3 9224 5272 or +61 (0)409 174 565

==> picture [585 x 95] intentionally omitted <==

==> picture [585 x 94] intentionally omitted <==

==> picture [585 x 95] intentionally omitted <==

==> picture [585 x 94] intentionally omitted <==