CENTRAL PETROLEUM LIMITED — Capital/Financing Update 2017

Aug 16, 2017

ASX CODE: CTP

ANNOUNCEMENT AND ASX MEDIA RELEASE

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17 August 2017

NOTICE UNDER SECTION 708A(5)(e) OF THE CORPORATIONS ACT 2001 (CTH) – ISSUE OF PLACEMENT SHARES

Central Petroleum Limited ACN 083 254 308 (ASX: CTP) ( Central ) has today issued approximately 92 million new fully paid ordinary shares ( New Shares ) under an institutional placement at an issue price of $0.10 per New Share to raise approximately $9.2 million before costs and expenses ( Placement ).

The Placement is fully underwritten jointly by Morgans Corporate Limited and Macquarie Capital (Australia) Limited.

Further details of the Placement are in Central's announcement lodged with the ASX on 10 August 2017.

Details of the securities issued

Class of securities: Fully paid ordinary shares ASX code: CTP Date of the issue: 17 August 2017

Total number of securities issued: 92,000,980

For the purposes of section 708A(6) of the Corporations Act 2001 (Cth) ( Act ), Central advises that:

• (a) the New Shares have been issued without disclosure to investors under Part 6D.2 of the Act;

• (b) this notice is given under section 708A(5)(e) of the Act;

• (c) as at the date of this notice, Central has complied with:

  • (i) the provisions of Chapter 2M of the Act as they apply to Central; and

  • (ii) section 674 of the Act; and

• (d) as at the date of this notice, there is no excluded information of the type referred to in sections 708A(7) and 708A(8) of the Act which is required to be set out in this notice under section 708A(6) of the Act.

Company Secretary

Joseph Morfea

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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 Martin Debelle at Citadel-MAGNUS T: +61 (0)2 8234 0100 M: +61 (0)409 911 189

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

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 Central 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 Central’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 Central, 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 Central or its subsidiaries shall be waived arising out of this document. All rights are reserved.

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Central Petroleum Limited

Media Enquiries Martin Debelle at Citadel-MAGNUS T: +61 (0)2 8234 0100 M: +61 (0)409 911 189

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

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