CENTRAL PETROLEUM LIMITED — Board/Management Information 2018

Dec 6, 2018

ASX ANNOUNCEMENT AND MEDIA RELEASE

ASX CODE: CTP

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7 December 2018

CENTRAL APPOINTS STUART BAKER AS NEW DIRECTOR

Central Petroleum Limited (ASX:CTP) (“Company” or “Central”) announces the appointment of Stuart Baker as a Non-Executive director, effective from 7 December 2018.

Mr Baker has more than four decades of experience in the oil and gas sector and currently provides independent advice to corporates and investors in the Australian oil and gas industry.

Previously he was Executive Director, Morgan Stanley with dual roles as Co-Head Asia Oil, Gas and Chemicals Research and team leader, Australian energy, mining and utility research, with positions held over a 13 year period.

He also held senior positions with research teams at Macquarie Bank and Bankers Trust and as a Petrophysical Engineer at Schlumberger Inc., rising to General Field Engineer.

Central Chairman Martin Kriewaldt said Mr Baker brought practical skills and market insights shaped by more than 40 years of working in the oil and gas industry and the broking and investment banking environments.

“Stuart has a unique set of skills which the Board can harness as the Company executes its plan to deliver transformational growth by nearly tripling Central’s gas sales. As a result of his extensive career as an analyst he has a deep understanding of valuing oil and gas assets at the company and field level, combined with invaluable as experience in accessing capital.”

Mr Baker is currently a member of the investment committee of resource focused ASX listed Lowell Resources Fund, and is a strategic advisor to Karoon Gas.

Central Petroleum Limited ABN 72 083 254 308. Level 7, 369 Ann Street, Brisbane, QLD 4000, Australia GPO Box 292, Brisbane, QLD 4001, Australia

Media Enquiries Helen McCrombie at Citadel-MAGNUS T: +61 (0) 2 8234 0103 M: +61 (0) 411 756 248

T: +61 (0)7 3181 3800 F: +61 (0)7 3181 3855 info@centralpetroleum.com.au www.centralpetroleum.com.au

ASX ANNOUNCEMENT AND MEDIA RELEASE – CENTRAL PETROLEUM LIMITED

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General Disclaimer and explanation of terms:

This document may contain forward-looking statements. Forward looking statements are only predictions and are subject to risks, uncertainties and assumptions which may be outside the control of the Company and could cause actual results to differ materially from these statements. These risks, uncertainties and assumptions include (but are not limited to) funding, exploration, commodity prices, currency fluctuations, economic and financial market conditions in various countries and regions, environmental risks and legislative, fiscal or regulatory developments, political risks, project delay or advancement, approvals, cost estimates and other risk factors described from time to time in the Company's reports filed with the ASX. Actual values, results or events may be materially different to those expressed or implied in this document. Given these uncertainties, readers are cautioned not to place reliance on forward looking statements. Any forward looking statement in this document is valid only at the date of issue of this document. Subject to any continuing obligations under applicable law and the ASX Listing Rules, or any other Listing Rules or Financial Regulators’ rules, the Company, its agents, directors, officers, employees, advisors and consultants do not undertake any obligation to publicly update or revise any information or any of the forward looking statements in this document if events, conditions or circumstances change or that unexpected occurrences happen to affect such a statement. Sentences and phrases are forward looking statements when they include any tense from present to future or similar inflection words, such as (but not limited to) "believe," "understand", "estimate," "anticipate," "plan," "predict," “target,” "may," "hope," "can," "will," "should," "expect," "intend," “projects”, "is designed to," "with the intent," "potential," the negative of these words or such other variations thereon or comparable terminology or similar expressions or future may indicate a forward looking statement or conditional verbs such as "will," "should," "would," "may" and "could" are generally forward-looking in nature and not historical facts.

No right of the Company or its subsidiaries shall be waived arising out of this document. All rights are reserved.