CENTRAL PETROLEUM LIMITED — Director's Dealing 2017

Sep 13, 2017

ANNOUNCEMENT AND ASX MEDIA RELEASE

ASX CODE: CTP

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14 September 2017

Appendix 3Y: Change of Director’s Interest Notice – Mr Richard Cottee

Central Petroleum Limited ( “Company” or “ Central ”) lodges this Appendix 3Y noting Mr Richard Cottee’s change of interest following the recent entitlement offer.

The Appendix 3Y also includes Mr Richard Cottee’s Share Rights, awarded under the Company’s Long Term Incentive Plan, for which and Appendix 3Y was not previously lodged due to an oversight by the Company. These Share Rights were approved by Shareholders at Annual General Meetings and have been disclosed under previously lodged Appendix 3B’s.

General Disclaimer and explanation of terms:

This document may contain forward-looking statements. Forward looking statements are only predictions and are subject to risks, uncertainties and assumptions which may be outside the control of Central and could cause actual results to differ materially from these statements. These risks, uncertainties and assumptions include (but are not limited to) funding, exploration, commodity prices, currency fluctuations, economic and financial market conditions in various countries and regions, environmental risks and legislative, fiscal or regulatory developments, political risks, project delay or advancement, approvals, cost estimates and other risk factors described from time to time in the Central’s reports filed with the ASX. Actual values, results or events may be materially different to those expressed or implied in this document. Given these uncertainties, readers are cautioned not to place reliance on forward looking statements. Any forward looking statement in this document is valid only at the date of issue of this document. Subject to any continuing obligations under applicable law and the ASX Listing Rules, or any other Listing Rules or Financial Regulators’ rules, the Central, its agents, directors, officers, employees, advisors and consultants do not undertake any obligation to publicly update or revise any information or any of the forward looking statements in this document if events, conditions or circumstances change or that unexpected occurrences happen to affect such a statement. Sentences and phrases are forward looking statements when they include any tense from present to future or similar inflection words, such as (but not limited to) "believe," "understand", "estimate," "anticipate," "plan," "predict," “target,” "may," "hope," "can," "will," "should," "expect," "intend," “projects”, "is designed to," "with the intent," "potential," the negative of these words or such other variations thereon or comparable terminology or similar expressions or future may indicate a forward looking statement or conditional verbs such as "will," "should," "would," "may" and "could" are generally forward-looking in nature and not historical facts.

No right of the Central or its subsidiaries shall be waived arising out of this document. All rights are reserved.

Central Petroleum Limited ABN 72 083 254 308. Level 7, 369 Ann Street, Brisbane, QLD 4000, Australia GPO Box 292, Brisbane, QLD 4001, Australia

Media Enquiries Martin Debelle at Citadel-MAGNUS T: +61 (0)2 8234 0100 M: +61 (0)409 911 189

T: +61 (0)7 3181 3800 F: +61 (0)7 3181 3855 info@centralpetroleum.com.au www.centralpetroleum.com.au

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 following the director for the purposes of section	information under listing rule 3.19A.2 and as agent for 205G of the Corporations Act.
Name of Director	Richard Ian Cottee
Date of last notice	5 January 2016

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) The securities were purchased by Mrs Shauna Cottee (wife of Director). (c) The securities were purchased by Mamdal Superannuation Pty Ltd . Mr Cottee is a beneficiary of the Mamdal Super Fund.
Date of change	(a) 08 September 2017 (b) 08 September 2017 (c) 08 September 2017
No. of securities held prior to change	(a) 568,329 ordinary shares (b) 11,067,010 unlisted options exercisable at 45 cents on or before 15 November 2017 (c) 13,833,763 unlisted options exercisable at 45 cents on or before 15 November 2017 (the option entitlement to exercise is at different vesting hurdles).

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Class	(a) Ordinary Shares (b) Ordinary Shares (c) Ordinary Shares
Number acquired	(a) 22,083 Ordinary Shares (b) 38,618 Ordinary Shares (c) 156,228 Ordinary Shares
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	(a) $2,208.30 (b) $3,861.80 (c) $15,622.80
No. of securities held after change	(a) 785,258 ordinary shares (b) 11,067,010 unlisted options exercisable at 45 cents on or before 15 November 2017 (c) 13,833,763 unlisted options exercisable at 45 cents on or before 15 November 2017 (the option entitlement to exercise is at different vesting hurdles). [Note: Part 2 sets out information on Share Rights held by Mr Richard Cottee]
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) Rights Issue Allotment (b) Rights Issue Allotment (c) Rights Issue Allotment

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

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 7 April 2015.
Nature of interest	Subject to Central Petroleum Limited’s Employee Rights Plan Rules, award of Share Rights under Central Petroleum Limited’s Long Term Incentive Plan (LTIP).
Name of registered holder (if issued securities)	(a) Mamdal Superannuation Pty Ltd Fund A/C>. Mr Cottee is a beneficiary of the Mamdal Super Fund. (b) Mamdal Superannuation Pty Ltd Fund A/C>. Mr Cottee is a beneficiary of the Mamdal Super Fund. (c) Mr Richard Cottee.
Date of change	(a) 05 January 2016. (b) 09 February 2016. (c) 08 December 2016.
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	(a) 2014/15 Share Rights: 191,031 (pursuant to the Central Petroleum Limited LTIP) expiring 5 January 2021. (b) 2015/16 Share Rights: 1,913,873 (pursuant to the Central Petroleum Limited LTIP) expiring 09 February 2021. (c) 2016/17 Share Rights: 3,202,983 (pursuant to the Central Petroleum Limited LTIP) expiring 08 December 2022.
Interest disposed	Not Applicable
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	(a) The number of Share Rights awarded was calculated by dividing $66,861 by the 20 day VWAP of Central Petroleum Limited Shares for the 20 business days preceding 30 June 2014. (b) The number of Share Rights awarded was calculated by dividing $287,081 by the 20 day VWAP of Central Petroleum Limited Shares for the 20 business days preceding 30 June 2015. (c) The number of Share Rights awarded was calculated by dividing $288,26 by the 20 day VWAP of Central Petroleum Limited Shares for the 20 business days preceding 30 June 2016.
Interest after change	(a) 2014/15 Share Rights: 191,031 (b) 2015/16 Share Rights: 1,913,873 (c) 2016/17 Share Rights: 3,202,983

Part 3 –[+] Closed period

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3

Appendix 3Y Change of Director’s Interest Notice

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

• See chapter 19 for defined terms.

Appendix 3Y Page 4

01/01/2011