CENTRAL PETROLEUM LIMITED — Director's Dealing 2009

Feb 1, 2009

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	16 June 2008

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	a) Directb) Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	Askin Nominees Pty Ltd (as trustee for theAskin Superannuation Fund, in which theDirector is a beneficiary).
Date of change	30 January 2009
No. of securities held prior to change	a) 960,000 ordinary fully paid shares.a) 400,000 options over ordinary fully paidshares exercisable by payment of 20 centseach at any time up to 31 May 2010.a) 400,000 options over ordinary fully paidshares exercisable by payment of 25 centseach at any time up to 30 June 2010.a) 2,000,000 options over ordinary fully paidsharesexercisablebypaymentof28c/33c/37c/43c/50c each at any time up to 3January 2012.b) 240,000 ordinary fully paid shares.
Class	a) Ordinary fully paid sharesb) Ordinary fully paid sharesb) Options over fully paid shares exercisableat 25c expiring 30 June 2010.

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Number acquired	b) 960,000 ordinary fully paid shares(transferred from individual to super fund).
Number disposed	a) 960,000 ordinary fully paid shares(transferred from individual to super fund).
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	b) $59,520 (acquired)a) $59,520 (disposed)
No. of securities held after change	b) 960,000 ordinary fully paid shares.a) 400,000 options over ordinary fully paidshares exercisable by payment of 20 centseach at any time up to 31 May 2010.a) 400,000 options over ordinary fully paidshares exercisable by payment of 25 centseach at any time up to 30 June 2010.a) 2,000,000 options over ordinary fully paidsharesexercisablebypaymentof28c/33c/37c/43c/50c each at any time up to 3January 2012.b) 240,000 ordinary fully paid shares.
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	b) Off market trade (acquired)a) Off market trade (disposed)

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 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 2

11/3/2002