CENTRAL PETROLEUM LIMITED — Board/Management Information 2013

May 6, 2013

ASX ANNOUNCEMENT & MEDIA RELEASE

ASX CODE: CTP

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May 7, 2013

Management Changes

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Centr a l Petroleum Ltd (A S X:CTP) ( “Central” or “Company” ) a n nounces t hat the Comp a ny’s Expl o ration Gen e ral Manager, Mr Tre v or Shortt, h as decide d to leave Central to return to Perth at the end of this financ i al year. M r Shortt ha s been a v a luable em p loyee of the C o mpany a n d was th e person n ominated b y the Bo a rd to spe a rhead its farmout proce s s. This pr o cess was successfu l ly completed last ye a r with th e Santos a n d Total farmo u ts.

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Centr a l has app o inted Mic h ael Bucknill, formerl y General M anager, E xploration of Acer Energ y , to the po s ition of G e neral Man a ger, Explo r ation. Mr B ucknill left A cer subs e quent to the company bei n g taken o v er in Janu a ry 2013. Mr Bucknill has show n great enthusiasm for C e ntral Petroleum and i ts highly p rospective acreage i n the Ama d eus and G eorgina Basin s .

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The C o mpany has also app o inted Dr Robbert Will i nk as Expl o ration Ad v isor. Dr Willink had a long and distin g uished ca r eer with Origin Energy until his r etirement in 2012, as a direct report to Origin’s Managing Director. H is experi e nce in gui d ing explor a tion in a c ompany like O r igin, which saw rapid g rowth duri n g his tenu r e there, will prove inv a luable to C entral.

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Mana g ing Direct o r of Cen t ral Petrol e um, Mr R i chard Cot t ee, said: “ Whilst it i s never desira b le to ha v e management cha n ges, the a ddition of both Mik e and Ro b to our mana g ement team has the Company well-positi o ned for an exciting e xploration program over t h e next 2 y e ars, with $78million w orth of exp l oration sc h eduled for t he next 1 2 months alread y underwa y .”

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“Centr a l has co n tinued its process o f combinin g experien c ed senior management with energ e tic, capable people w ho have t h e potential to be the next gener a tion of le a dership. In Mik e Herrington, Rob Willink and m y self, the C o mpany ha s at its hel m people w ho have alread y confront e d the chall e nges of g r owing a s m all compa n y into an A SX 100 c o mpany. These appointm e nts strengthen our te c hnical abil i ty to devel o p our vas t acreage, a nd give me gr e at optimis m about th e exploratio n program w e recently commenc e d”, Mr Cot t ee said.

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Company enquiries, please contact:

Richa r d Cottee, M anaging Director +61 7 3181 38 0

Media enquiries, please contact:

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Martin Debelle at Citadel +6 1 2 9290 3 0 33 or Mobile +61 (0) 4 09 911 18 9

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General Disclaimer and explanation of terms:

This document may contain forw a rd-looking st a tements. Fo r ward looking statements a re only predi c tions and are su b ject to risks, uncertaintie s and assum p tions which are outside the control of Central. These risks, uncerta i nties and as s umptions include (but are n ot limited to) commodity p r ices, currenc y fluctuations, economic and fin a ncial market conditions in various cou n tries and re g ions, environ m ental risks a nd legislativ e , fiscal or regulat o ry developm e nts, political risks, projec t delay or ad v ancement, approvals an d cost estimates. Actual values, results or ev e nts may be m aterially diffe r ent to those e xpressed or implied in this document. Given these uncerta i nties, reader s are caution e d not to pla c e reliance o n forward loo k ing stateme n ts. Any forw a rd looking statem e nt in this do c ument is valid only at the date of is s ue of this d o cument. Su b ject to any continuing obligati o ns under ap p licable law a n d the ASX Listing Rules, o r any other L isting Rules o r Financial R egulators’ rules, C entral, its a g ents, direct o rs, officers, employees, a dvisors and consultants do not und e rtake any obligati o n to update or revise an y information or any of th e forward lo o king statements in this d o cument if events, conditions or circumstances change or th at unexpect e d occurrenc e s happen to a ffect such a s tatement. Senten c es and phra s es are forwa r d looking st a tements whe n they includ e any tense f r om present t o future or similar i nflection wor d s, such as ( b ut not limite d to) "believe," "estimate," "anticipate," "plan," "predi c t," "may," "hope," "can," "will," "should," "ex p ect," "intend," "is designe d to," "with the intent," "po t ential," the negative of these w ords or su c h other vari a tions thereon or compa r able terminology, may i n dicate forwa r d looking statem e nt.

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