CENTRAL PETROLEUM LIMITED — Director's Dealing 2008

Jan 2, 2008

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity CENTRAL PETROLEUM LIMITED

ABN 72 083 254 308

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	John Phillip HEUGH
Date of last notice	7 December 2007

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	-
Date of change	3 January 2008
No. of securities held prior to change	5,100,001 ordinary fully paid shares (subject to escrow until 6 March 2008). 165,000 ordinary fully paid shares 2,500,000 options over ordinary fully paid shares exercisable by payment of 20 cents each at any time up to 31 May 2010 (subject to escrow until 6 March 2008). 2,369,250 options over ordinary fully paid shares exercisable by payment of 25 cents each at any time up to 30 June 2010.
Class	Unlisted Options over ordinary fully paid shares exercisable at any time up to 3 January 2012.

• See chapter 19 for defined terms.

Appendix 3Y Page 1

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Appendix 3Y Change of Director’s Interest Notice

Number acquired	1,000,000 options $0.28 by 3 Jan 2012 1,000,000 options $0.33 by 3 Jan 2012 1,000,000 options $0.37 by 3 Jan 2012 1,000,000 options $0.43 by 3 Jan 2012 1,000,000 options $0.50 by 3 Jan 2012
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil
No. of securities held after change	5,100,001 ordinary fully paid shares (subject to escrow until 6 March 2008). 165,000 ordinary fully paid shares 2,500,000 options over ordinary fully paid shares exercisable by payment of 20 cents each at any time up to 31 May 2010 (subject to escrow until 6 March 2008). 2,369,250 options over ordinary fully paid shares exercisable by payment of 25 cents each at any time up to 30 June 2010. 5,000,000 options over ordinary fully paid shares exercisable by payment of 28c/33c/37c/43c/50c each at any time up to 3 January 2012.
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Pursuant to shareholder approval at AGM of 21 December 2007.

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract Nature of interest Name of registered holder (if issued securities) Date of change No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed Interest acquired

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Interest disposed Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change

• See chapter 19 for defined terms.

Appendix 3Y Page 3

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity CENTRAL PETROLEUM LIMITED

ABN 72 083 254 308

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Henry Jan ASKIN
Date of last notice	4 September 2007

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	-
Date of change	3 January 2008
No. of securities held prior to change	800,000 ordinary fully paid shares (subject to escrow until 6 March 2008). 400,000 options over ordinary fully paid shares exercisable by payment of 20 cents each at any time up to 31 May 2010 (subject to escrow until 6 March 2008). 400,000 options over ordinary fully paid shares exercisable by payment of 25 cents each at any time up to 30 June 2010.
Class	Unlisted Options over ordinary fully paid shares exercisable at any time up to 3 January 2012.

• See chapter 19 for defined terms.

Appendix 3Y Page 4

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Appendix 3Y Change of Director’s Interest Notice

Number acquired	400,000 options $0.28 by 3 Jan 2012 400,000 options $0.33 by 3 Jan 2012 400,000 options $0.37 by 3 Jan 2012 400,000 options $0.43 by 3 Jan 2012 400,000 options $0.50 by 3 Jan 2012
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil
No. of securities held after change	800,000 ordinary fully paid shares (subject to escrow until 6 March 2008). 400,000 options over ordinary fully paid shares exercisable by payment of 20 cents each at any time up to 31 May 2010 (subject to escrow until 6 March 2008). 400,000 options over ordinary fully paid shares exercisable by payment of 25 cents each at any time up to 30 June 2010. 2,000,000 options over ordinary fully paid shares exercisable by payment of 28c/33c/37c/43c/50c each at any time up to 3 January 2012.
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Pursuant to shareholder approval at AGM of 21 December 2007.

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract Nature of interest Name of registered holder (if issued securities) Date of change No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed Interest acquired Interest disposed

• See chapter 19 for defined terms.

Appendix 3Y Page 5

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Appendix 3Y Change of Director’s Interest Notice

Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change

• See chapter 19 for defined terms.

Appendix 3Y Page 6

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity CENTRAL PETROLEUM LIMITED

ABN 72 083 254 308

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Richard Waddy FAULL
Date of last notice	4 September 2007

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	-
Date of change	3 January 2008
No. of securities held prior to change	1,000,001 ordinary fully paid shares (subject to escrow until 6 March 2008). 1,000,000 options over ordinary fully paid shares exercisable by payment of 20 cents each at any time up to 31 May 2010 (subject to escrow until 6 March 2008). 500,000 options over ordinary fully paid shares exercisable by payment of 25 cents each at any time up to 30 June 2010.
Class	Unlisted Options over ordinary fully paid shares exercisable at any time up to 3 January 2012.

• See chapter 19 for defined terms.

Appendix 3Y Page 7

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Appendix 3Y Change of Director’s Interest Notice

Number acquired	400,000 options $0.28 by 3 Jan 2012 400,000 options $0.33 by 3 Jan 2012 400,000 options $0.37 by 3 Jan 2012 400,000 options $0.43 by 3 Jan 2012 400,000 options $0.50 by 3 Jan 2012
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil
No. of securities held after change	1,000,001 ordinary fully paid shares (subject to escrow until 6 March 2008). 1,000,000 options over ordinary fully paid shares exercisable by payment of 20 cents each at any time up to 31 May 2010 (subject to escrow until 6 March 2008). 500,000 options over ordinary fully paid shares exercisable by payment of 25 cents each at any time up to 30 June 2010. 2,000,000 options over ordinary fully paid shares exercisable by payment of 28c/33c/37c/43c/50c each at any time up to 3 January 2012.
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Pursuant to shareholder approval at AGM of 21 December 2007.

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract Nature of interest Name of registered holder (if issued securities) Date of change No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed Interest acquired

• See chapter 19 for defined terms.

Appendix 3Y Page 8

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Appendix 3Y Change of Director’s Interest Notice

Interest disposed Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change

• See chapter 19 for defined terms.

Appendix 3Y Page 9

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity CENTRAL PETROLEUM LIMITED

ABN 72 083 254 308

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	William John DUNMORE
Date of last notice	4 September 2007

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	-
Date of change	3 January 2008
No. of securities held prior to change	600,000 ordinary fully paid shares (subject to escrow until 6 March 2008). 300,000 options over ordinary fully paid shares exercisable by payment of 20 cents each at any time up to 31 May 2010 (subject to escrow until 6 March 2008). 300,000 options over ordinary fully paid shares exercisable by payment of 25 cents each at any time up to 30 June 2010.
Class	Unlisted Options over ordinary fully paid shares exercisable at any time up to 3 January 2012.

• See chapter 19 for defined terms.

Appendix 3Y Page 10

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Number acquired	400,000 options $0.28 by 3 Jan 2012 400,000 options $0.33 by 3 Jan 2012 400,000 options $0.37 by 3 Jan 2012 400,000 options $0.43 by 3 Jan 2012 400,000 options $0.50 by 3 Jan 2012
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil
No. of securities held after change	600,000 ordinary fully paid shares (subject to escrow until 6 March 2008). 300,000 options over ordinary fully paid shares exercisable by payment of 20 cents each at any time up to 31 May 2010 (subject to escrow until 6 March 2008). 300,000 options over ordinary fully paid shares exercisable by payment of 25 cents each at any time up to 30 June 2010. 2,000,000 options over ordinary fully paid shares exercisable by payment of 28c/33c/37c/43c/50c each at any time up to 3 January 2012.
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Pursuant to shareholder approval at AGM of 21 December 2007.

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract Nature of interest Name of registered holder (if issued securities) Date of change No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed Interest acquired

• See chapter 19 for defined terms.

Appendix 3Y Page 11

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Appendix 3Y Change of Director’s Interest Notice

Interest disposed Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change

• See chapter 19 for defined terms.

Appendix 3Y Page 12

11/3/2002