CENTRAL PETROLEUM LIMITED — Director's Dealing 2019

Nov 24, 2019

ASX CODE: CTP

ASX ANNOUNCEMENT AND MEDIA RELEASE

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26 November 2019

Appendix 3Y Change of Director’s Interest Notice - Correction

Central Petroleum Limited ( ASX:CTP ) (“ Company ” or “ Central ”) advised that due to an administrative oversight it was overlooked to issue an Appendix 3Y for shares issued to the Managing Director, Mr Leon Devaney in September 2019. These shares were issued as a result of share rights being exercised in accordance with the Company’s 2016 Long Term Employee Incentive Plan, which were awarded to Mr Leon Devaney prior to him becoming a Director of the Company.

Central apologies for any inconvenience caused by this error.

An amended Appendix 3Y is attached.

-ends-

General Legal Disclaimer and Explanation of Terms:

This document is for information purposes only and is not investment or financial product advice nor intended for prospective investors and does not purport to provide all of the information an interested party may require in order to investigate the affairs of Central Petroleum Limited (“Company”). This document has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person. The data, information, opinions and conclusions (“Information”) herein are subject to change without notice.

No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness, correctness, likelihood of achievement or reasonableness of the Information contained in this document. To the maximum extent permitted by law, none of the Company or its agents, directors, officers, employees, advisors and consultants, nor any other person, accepts any liability, including, without limitation, any liability arising out of fault or negligence for any loss arising from the use of the Information contained in this document.

This document may contain forward-looking statements which include (but are not limited to) forecasts, prospects or returns. Forward looking statements are only predictions and are subject to risks, uncertainties and assumptions which may be outside the control of the Company and could cause actual results to differ 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, environmental risks, legislative or fiscal developments, political risks, project delay, approvals, cost estimates and other risk factors described from time-to-time in the Company's filings with the ASX. Actual facts, matters or circumstances may be different to those expressed or implied in this document. Given these uncertainties, readers are cautioned not to place reliance on forward looking statements. Subject to any continuing obligations under applicable law and the ASX Listing Rules, the Company and its agents, directors, officers, employees, advisors and consultants, nor any other person, do not undertake any obligation to update or revise any Information or any of the forward looking statements in this document. 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 of the future which may indicate a forward looking statement or conditional verbs such as "will", "should", "would", "may", “can” and "could" are generally forward-looking in nature and not historical facts.

No right of the Company 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 Helen McCrombie at Citadel-MAGNUS T: +61 (0) 2 8234 0103 M: +61 (0) 411 756 248

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 forthe director for the purposes of section 205G of the Corporations Act.	We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent forthe director for the purposes of section 205G of the Corporations Act.
Name of Director	Leon Goss Devaney
Date of last notice	5 June 2019

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 relevantinterest.	N/A.
Date of change	(a) 18 September 2019.(b) 12 November 2019.(c) 12 November 2019.
No. of securities held prior to change	(a) 1,053,776 Ordinary Shares (Direct).(b) 2,202,158 Share Rights pursuant toCentral Petroleum Limited’s Long TermIncentive Plan.

• 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) Share Rights.(c) Unlisted Options.
Number acquired	(a) 1,077,981.(b) 1,837,109.(c) 5,105,000.
Number disposed	(b) 1,077,981 Share Rights as a result ofexercise.
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	(a) Nil.(b) Nil, Share Rights exercised under CentralPetroleum’s 2016 Long Term IncentivePlan.(c) Nil.
No. of securities held after change	(a) 2,131,757 Ordinary Shares (Direct).(b) 2,961,286 Share Rights pursuant toCentral Petroleum Limited’s Long TermIncentive Plan.(c) 5,105,000 Unlisted Options pursuant toCentral Petroleum Limited’s ExecutiveShare Option Plan.
Nature of changeExample: on-market trade, off-market trade, exercise of options, issueof securities under dividend reinvestment plan, participation in buy-back	(a) Subject to Central Petroleum Limited’sEmployee Rights Plan Rules, exercise ofShare Rights under Central PetroleumLimited’s 2016 Long Term Incentive Plan.(b) Issue of Share Rights pursuant to CentralPetroleum Limited’s Long Term IncentivePlan.(c) Issue of Unlisted Options pursuant toCentral Petroleum Limited’s ExecutiveShare Option Plan.

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 2

01/01/2011

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

Part 3 –[+] Closed period

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

• See chapter 19 for defined terms.

01/01/2011

Appendix 3Y Page 3