CENTRAL PETROLEUM LIMITED — Director's Dealing 2012

Aug 14, 2012

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 30/09/01 Amended 01/01/11

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.

We (the entity) give ASX the followingthe director for the purposes of section	information under listing rule 3.19A.2 and as agent for205G of the Corporations Act.
Name of Director	Richard Ian Cottee
Date of last notice	22 June 2012

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	Indirect
Nature of indirect interest	The securities were issued to Freestone
(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	Energy Partners Pty Ltd, (“FEP”) acompany in which Richard Cottee has a
	beneficial equityinterest.
Date of change	8 August, 2012
No. of securities held prior to change	Nil
Class
	(a) Unlisted options exercisable at 9 cents
	on or before 15 November 2015.
	(b) Unlisted options exercisable at 9 cents
	on or before 15 November 2017.
Number acquired	172,922,033
Number disposed	Nil

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Value/ConsiderationNote: If consideration is non‐cash, provide details and estimatedvaluation	The consideration payable at time of issueof the options is nil.
	At the time of exercise of the options FEP
	is, in addition to paying the option
	exercise price, also required to pay for the
	options as follows:
	Tranche 1 – 48,418,169 options at $0.022
	(2.2 cents) per option.
	Tranche 2 – 55,335,051 options at $0.027
	(2.7 cents) per option.
	Tranche 3 – 69,168,813 options at $0.024
	(2.4 cents) per option.
No. of securities held after change	(a) 48,418,169unlistedoptions
	exercisable at 9 cents on or before
	15 November 2015
	(b) 55,335,051 and 69,168,813 unlisted
	options exercisable at 9 cents on
	or before 15 November 2017 (with
	entitlement to exercise at different
	vesting hurdles).
Nature of change	Issue of options under the Company’s
Example: on‐market trade, off‐market trade, exercise of options,issue of securities under dividend reinvestment plan, participation inbuy‐back	employee incentive scheme. The issuewas approved by shareholders in general
	meetingon 19 July2012.

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 2

01/01/2011

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

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailed	No
above traded during a+closed period where prior written
clearance was required?
If so, was prior written clearance provided to allow the trade	N/A
to proceed during this period?
If prior written clearance was provided, on what date was this	N/A
provided?

• See chapter 19 for defined terms.

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