CENTRAL PETROLEUM LIMITED — Director's Dealing 2017

Dec 19, 2017

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	14 September 2017

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(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	(a) ThesecuritiesheldbyMamdalSuperannuation Pty Ltd <Mamdal SuperFund A/C>. Mr Cottee is a beneficiary ofthe Mamdal Super Fund.(b) Unlisted options held by FreestoneEnergy Partners Pty Ltd of which MrCottee was a beneficiary,
Date of change	(a) 15 December 2017(b) 15 November 2017

• 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) 785,258 ordinary shares(b) 11,067,010 unlisted options exercisableat 45 cents on or before 15 November2017(c) 13,833,763 unlisted options exercisableat 45 cents on or before 15 November2017(the option entitlement to exercise is atdifferent vesting hurdles).
Class	Ordinary Shares
Number acquired	104,675 Ordinary Shares
Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	Nil
No. of securities held after change	889,933 ordinary shares[Note: Part 2 sets out information on ShareRights held by Mr Richard Cottee]

• See chapter 19 for defined terms. Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Nature of changeExample: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan, participation inbuy-back	(a) Share Rights Vested and Exercisedunder Company’s Long Term IncentivePlan.(b) 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	Employment Contract for Mr Richard Cottee dated 7April 2015.
Nature of interest	Subject to Central Petroleum Limited’s Employee RightsPlan Rules, award of Share Rights under CentralPetroleum Limited’s Long Term Incentive Plan (LTIP).
Name of registered holder(if issued securities)	(a) Mamdal Superannuation Pty Ltd <Mamdal SuperFund A/C>. Mr Cottee is a beneficiary of the MamdalSuper Fund.(b) Mamdal Superannuation Pty Ltd <Mamdal SuperFund A/C>. Mr Cottee is a beneficiary of the MamdalSuper Fund.(c) Mr Richard Cottee.(d) Mamdal Superannuation Pty Ltd <Mamdal SuperFund A/C>. Mr Cottee is a beneficiary of the MamdalSuper Fund.
Date of change	(a) 15 December 2017.(b) 18 December 2017.(c) 18 December 2017.(d) 15 December 2017.
No. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changed
Interest acquired	(a) 2014/15 Share Rights: 18,319 (pursuant to theCentral Petroleum Limited LTIP) expiring 5 January2021.(b) 2017/18 Share Rights: 917,955 (pursuant to theCentral Petroleum Limited LTIP) expiring 18December 2022.(c) 2017/18 Share Rights: 917,955 (pursuant to theCentral Petroleum Limited LTIP) expiring 18December 2022.

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Interest disposed	Interest disposed	Interest disposed	Interest disposed	(d) 2014/15ShareRights:104,675vestedandexercised (pursuant to the Central PetroleumLimited LTIP) expiring 5 January 2021.Note: details of exercised Share Rights in Part 1 of thisAppendix 3Y.	(d) 2014/15ShareRights:104,675vestedandexercised (pursuant to the Central PetroleumLimited LTIP) expiring 5 January 2021.Note: details of exercised Share Rights in Part 1 of thisAppendix 3Y.	(d) 2014/15ShareRights:104,675vestedandexercised (pursuant to the Central PetroleumLimited LTIP) expiring 5 January 2021.Note: details of exercised Share Rights in Part 1 of thisAppendix 3Y.	(d) 2014/15ShareRights:104,675vestedandexercised (pursuant to the Central PetroleumLimited LTIP) expiring 5 January 2021.Note: details of exercised Share Rights in Part 1 of thisAppendix 3Y.	(d) 2014/15ShareRights:104,675vestedandexercised (pursuant to the Central PetroleumLimited LTIP) expiring 5 January 2021.Note: details of exercised Share Rights in Part 1 of thisAppendix 3Y.
Value/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuation				(a) The number of Share Rights awarded for the2014/15 LTIP was calculated in accordance with theLTIP and Company’s Employee Rights Plan Rulesapproved by Shareholders.(b) The number of Share Rights awarded wascalculated by dividing $146,872.80 by the 20 dayVWAP of Central Petroleum Limited Shares for the20 business days preceding 30 June 2017.(c) The number of Share Rights awarded wascalculated by dividing $146,872.80 by the 20 dayVWAP of Central Petroleum Limited Shares for the20 business days preceding 30 June 2017.(d) The number of Share Rights vested and exercisedwas calculated in accordance with the LTIP andCompany’s Employee Rights Plan Rules approved
				b	y Shareholders.
I	nterest	after change		(a) 2(b) 2	014/15 Share Rig015/16 Share Rig	hts: 104,675hts: 1,913,873
				(c) 2(d) 2	016/17 Share Rig017/18 Share Rig	hts: 3,202,983hts: 1,835,910
	rt 3 –	+Closed period
ac	Were tbovelearan	he interests in thetraded during a+ce was reuired?	securities or colosed period whe		ntracts detailedre prior written	No
		q
Ift	so, wo proc	as prior written cleeed during this peri	arance provided tood?		allow the trade	N/A
If prior written clearance was provided, on what date was thisprovided?	priorrovid	written clearance wd?	as provided, on wh		at date was this	N/A

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.

Appendix 3Y Page 4

01/01/2011