New Zealand Oil & Gas Limited

Central Petroleum Limited (ASX:CTP) (FRA:C9J) (OTCMKTS:CNPTF) advises that as at 0600 hrs ACST on 27 June 2022, the Palm Valley 12 (PV12) well in OL3, Southwest of Alice Springs in the Northern Territory was at a depth of 2,278m in the P4 unit of the Pacoota Formation.

Central Petroleum Limited (ASX:CTP) (FRA:C9J) (OTCMKTS:CNPTF) advises that on 20 June 2022, the Palm Valley 12 (PV12) well in OL3, Southwest of Alice Springs in the Northern Territory, was at the section total depth of 2,058m at 0600 hrs ACST in the P2 unit of the Pacoota Formation.

Central Petroleum Limited (ASX:CTP) (FRA:C9J) (OTCMKTS:CNPTF) advises that on 13 June 2022, the Palm Valley 12 (PV12) well in OL3, Southwest of Alice Springs in the Northern Territory, was at a depth of 2,005m at 0600 hrs ACST in the P2 unit of the Pacoota Formation.

Central Petroleum Limited (ASX:CTP) (FRA:C9J) (OTCMKTS:CNPTF) advises that on 6 June 2022, the Palm Valley 12 well in OL3, Southwest of Alice Springs in the Northern Territory, was at the section total depth of 1,998m at 0600 hrs ACST in the P2 unit of the Pacoota Formation.

Central Petroleum Limited (ASX:CTP) (FRA:C9J) (OTCMKTS:CNPTF) advises that on 30 May 2022, the Palm Valley 12 (PV12) well in OL3, Southwest of Alice Springs in the Northern Territory, was at a depth of 1,947m at 0600 hrs ACST in the P1 unit of the Pacoota Formation.

Central Petroleum Limited (ASX:CTP) (FRA:C9J) (OTCMKTS:CNPTF) advises that on 16 May 2022, the Palm Valley 12 (PV12) well in OL3, Southwest of Alice Springs in the Northern Territory, had reached a depth of 1,687m at 0600 hrs ACST in the Lower Stairway Formation.

Following recent reviews of geological data and fracture modelling analysis, Central Petroleum Limited (ASX:CTP) (FRA:C9J) (OTCMKTS:CNPTF) has identified the Pacoota-3 interval as a possible new appraisal target that may be integrated into the current PV12 drilling program.

Central Petroleum Limited (ASX:CTP) (FRA:C9J) (OTCMKTS:CNPTF) advises that on 25 April 2022, the Palm Valley 12 (PV12) well in OL3, Southwest of Alice Springs in the Northern Territory, had reached a depth of 221m at 0600 hrs ACST and is currently drilling ahead.

Central Petroleum Limited (ASX:CTP) (FRA:C9J) (OTCMKTS:CNPTF) advises that the Palm Valley 12 (PV12) well in OL3, Southwest of Alice Springs in the Northern Territory, spud on Sunday, 17 April 2022.

Central Petroleum Limited (ASX:CTP) (FRA:C9J) (OTCMKTS:CNPTF) advises it has today completed the sale of 50% of its interests in its Amadeus Basin producing gas and oil fields to New Zealand Oil & Gas Limited (ASX:NZO) (NSE::NZO) and Cue Energy Resources Limited (ASX:CUE).