CENTRAL PETROLEUM LIMITED — Director's Dealing 2010

May 31, 2010

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ASX ANNOUNCEMENT

ASX CODE: CTP

1 June 2010

TO: The Manager, Company Announcements ASX Limited CONTACT: John Heugh +61 8 9474 1444

Appendix 3Y - Change of Director’s Interest Notice ( x 4)

Attached are Appendix 3Y Change of Director’s Interest Notices for Dr Henry Askin, Mr John Heugh, Mr William Dunmore and Mr Richard Faull.

Yours faithfully

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Bruce Elsholz Joint Company Secretary

Attach: 4 Notices

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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	6 May 2010

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) Direct b)Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Askin Nominees Pty Ltd (as trustee for the Askin Superannuation Fund, in which the Director is a beneficiary).
Date of change	31 May, 2010
No. of securities held prior to change	b) 3,600,000 ordinary fully paid shares. b) 840,000 listed options exercisable at 16c on or before 31 March 2014. a) 400,000 options over ordinary fully paid shares exercisable at 20 cents each on or before 31 May 2010. a) 400,000 options over ordinary fully paid shares exercisable at 25 cents on or before 30 June 2010. a) 2,000,000 options over ordinary fully paid shares exercisable at 28c/33c/37c/43c/50c on or before 3 January 2012. b) 2,500,000 options exercisable at 22c/25c/28c/32c/37c on or before 31 March 2014.

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Number acquired	Nil
Number disposed	a) 400,000 options over ordinary fully paid shares exercisable at 20 cents each on or before 31 May2010.
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil
No. of securities held after change	b) 3,600,000 ordinary fully paid shares. b) 840,000 listed options exercisable at 16c on or before 31 March 2014. a) 400,000 options over ordinary fully paid shares exercisable at 25 cents on or before 30 June 2010. a) 2,000,000 options over ordinary fully paid shares exercisable at 28c/33c/37c/43c/50c on or before 3 January 2012. b) 2,500,000 options exercisable at 22c/25c/28c/32c/37c on or before 31 March 2014.
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	a) Expired options

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

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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	6 May 2010

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.	N/A
Date of change	31 May 2010
No. of securities held prior to change	5,703,693 ordinary fully paid shares. 3,978 listed options exercisable at 16c on or before 31 March 2014 2,500,000 options over ordinary fully paid shares exercisable by payment of 20 cents on or before 31 May 2010. 2,050,000 options over ordinary fully paid shares exercisable by payment of 25 cents on or before 30 June 2010. 5,000,000 options over ordinary fully paid shares exercisable by payment of 28c/33c/37c/43c/50c on or before 3 January 2012. 2,500,000 options exercisable at 22c/25c/28c/32c/37c on or before 31 March 2014.
Number acquired	Nil

• See chapter 19 for defined terms.

Appendix 3Y Page 1

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Appendix 3Y Change of Director’s Interest Notice

Number disposed	2,500,000 options over ordinary fully paid shares exercisable by payment of 20 cents on or before 31 May 2010.
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil
No. of securities held after change	5,703,693 ordinary fully paid shares. 3,978 listed options exercisable at 16c on or before 31 March 2014 2,050,000 options over ordinary fully paid shares exercisable by payment of 25 cents on or before 30 June 2010. 5,000,000 options over ordinary fully paid shares exercisable by payment of 28c/33c/37c/43c/50c on or before 3 January 2012. 2,500,000 options exercisable at 22c/25c/ 28c/32c/37c on or before 31 March 2014.
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Expired options

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

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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	29 June 2009

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.	N/A
Date of change	31 May 2010
No. of securities held prior to change	776,666 ordinary fully paid shares. 300,000 options over ordinary fully paid shares exercisable at 20 cents on or before 31 May 2010. 300,000 options over ordinary fully paid shares exercisable at 25 cents on or before 30 June 2010. 2,000,000 options over ordinary fully paid shares exercisable at 28c/33c/37c/43c/50c on or before 3 January 2012. 1,250,000 options exercisable at 22c/25c/28c/32c/37c on or before 31 March 2014. 150,000 listed options exercisable at 16c on or before 31 March 2014.
	.

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Number acquired	Nil
Number disposed	300,000 options over ordinary fully paid shares exercisable at 20 cents on or before 31 May 2010
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil
No. of securities held after change	776,666 ordinary fully paid shares. 300,000 options over ordinary fully paid shares exercisable at 25 cents on or before 30 June 2010. 2,000,000 options over ordinary fully paid shares exercisable at 28c/33c/37c/43c/50c on or before 3 January 2012. 1,250,000 options exercisable at 22c/25c/28c/32c/37c on or before 31 March 2014. 150,000 listed options exercisable at 16c on or before 31 March 2014.
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Expired options

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

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Appendix 3Y Change of Director’s Interest Notice

• See chapter 19 for defined terms.

Appendix 3Y Page 3

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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	6 May 2010

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) Direct (b) Indirect (c) Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	(b) St Leonard’s Investments Pty Ltd (a company in which the Director has a relevant interest). (c) Faull Newton Pty Ltd (a company in which the Director has a relevant interest).
Date of change	31 May 2010

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change	(a) 1,831,100 ordinary fully paid shares. (b) 330,000 ordinary fully paid shares. (c) 225,000 ordinary fully paid shares. (a) 1,000,000 options exercisable at 20 cents on or before 31 May 2010. (a) 500,000 options exercisable at 25 cents on or before 30 June 2010. (a) 400,000 options exercisable at 28 cents on or before 3 January 2012. (a) 400,000 options exercisable at 33 cents on or before 3 January 2012. (a) 400,000 options exercisable at 37 cents on or before 3 January 2012. (a) 400,000 options exercisable at 43 cents on or before 3 January 2012. (a) 400,000 options exercisable at 50 cents on or before 3 January 2012. (a) 250,000 options exercisable at 22 cents on or before 31 March 2014. (a) 250,000 options exercisable at 25 cents on or before 31 March 2014. (a) 250,000 options exercisable at 28 cents on or before 31 March 2014. (a) 250,000 options exercisable at 32 cents on or before 31 March 2014. (a) 250,000 options exercisable at 37 cents on or before 31 March 2014. (a) 315,550 options exercisable at 16 cents on or before 31 March 2014. (c) 15,000 options exercisable at 16 cents on or before 31 March 2014.
Number acquired	Nil.
Number disposed	(a) 1,000,000 options exercisable at 20 cents on or before 31 May 2010.
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil.

• See chapter 19 for defined terms.

Appendix 3Y Page 2

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change

(a) 1,831,100 ordinary fully paid shares. (b) 330,000 ordinary fully paid shares. (c) 225,000 ordinary fully paid shares. (a) 500,000 options exercisable at 25 cents on or before 30 June 2010. (a) 400,000 options exercisable at 28 cents on or before 3 January 2012. (a) 400,000 options exercisable at 33 cents on or before 3 January 2012. (a) 400,000 options exercisable at 37 cents on or before 3 January 2012. (a) 400,000 options exercisable at 43 cents on or before 3 January 2012. (a) 400,000 options exercisable at 50 cents on or before 3 January 2012. (a) 250,000 options exercisable at 22 cents on or before 31 March 2014. (a) 250,000 options exercisable at 25 cents on or before 31 March 2014. (a) 250,000 options exercisable at 28 cents on or before 31 March 2014. (a) 250,000 options exercisable at 32 cents on or before 31 March 2014. (a) 250,000 options exercisable at 37 cents on or before 31 March 2014. (a) 315,550 options exercisable at 16 cents on or before 31 March 2014. (c) 15,000 options exercisable at 16 cents on or before 31 March 2014.

Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

Expiration of options.

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

• See chapter 19 for defined terms.

Appendix 3Y Page 3

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Appendix 3Y Change of Director’s Interest Notice

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 4

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