Central Petroleum Limited · ASX:CTP

Central Petroleum — QUPEX 2018

16 slides from Central Petroleum's conference presentation, Nov 19, 2018

1. Slide 1: Company Presentation

   For personal use only Company Presentation QUPEX 19 November 2018 Central Petroleum Limited (ASX: CTP)

2. Slide 2: Overview

   Overview For personal use only 1 What we’ve made possible – recent achievements 2 What’s now possible – current status 3 Future possibilities – what’s next CENTRAL PETROLEUM LIMITED 2

3. Slide 3: Background

   1 Background For personal use only  Strategic counter-cyclic acquisition of Mereenie, Palm Valley, Dingo  East coast GSAs secured via NGP  Facility expansion projects to deliver into new GSAs  Appraisal drilling to expand reserve base and support further sales CENTRAL PETROLEUM LIMITED 3

4. Slide 4: What we’ve made possible – a big year

   1 What we’ve made possible – a big year For personal use only  Drilled West Mereenie 26 & Palm Valley 13  Refurbished & restarted Palm Valley gas field  On-track to deliver facility expansion at Mereenie  LTI free to date CENTRAL PETROLEUM LIMITED 4

5. Slide 5: Cutting edge drilling at PV13

   1 Cutting edge drilling at PV13 For personal use only  Reservoir section drilled underbalanced with air  1000m vertical section then kick-off into horizontal section  30,000 psi formation strength and extremely abrasive  Sensitive regulatory and community landscape  Remote & rugged terrain  Fl

6. Slide 6: Breathing Life into Palm Valley

   1 Breathing Life into Palm Valley For personal use only  Equipment on standby for 3 years  Re-lifed 20 year old compressors  Upgraded instrumentation & control systems  Modernise gas specification  Journey of discovery with emergent scope  Seamless integration of Operations & Projects  2 mont

7. Slide 7: Boosting more juice out of Mereenie

   1 Boosting more juice out of Mereenie For personal use only  Upgrade capacity to 44 TJ/d frim  Installation of 2 new inlet separators & new 20 TJ/d Field Boost Compressor  Restage existing compressors, restart ‘Plant 3’ & upgrade of control system  Well & field reconfigurations  Fast-track proj

8. Slide 8: Acknowledging the team

   1 Acknowledging the team For personal use only  Traditional Owners  Central Staff  Drilling Contractors  Project Contractors  Ensign  Wood  Haliburton  Wasco  Weatherford  Enerflex  RMN Drilling Fluids  PSA Engineering  Orange Creek (Local)  Axiom  Wannalift (Local)  Ross Engineering

9. Slide 9: What’s now possible – gas sales to triple

   2 What’s now possible – gas sales to triple For personal use only Gas Actual Sales / Forecast Capacity (TJpa) 16,000 14,000 Acquired Palm Acquired 50% NGP expected Valley and Dingo of Mereenie commencement 12,000 March 2014 September 2015 December 2018 10,000 Gas Acceleration Plan 8,000 New 6,000 GS

10. Slide 10: Reserves upgrade supports further gas sales

    2 Reserves upgrade supports further gas sales For personal use only 1P and 2P gas reserves (PJ) net to Central Palm Valley Dingo Mereenie Total  13 November announced a 65% 180 increase in 1P gas reserves (53PJ), 160 and 37% in 2P (46PJ) 140 46 120  Key drivers: additional production 53 data and a

11. Slide 11: Future possibilities – growth platforms

    3 Future possibilities – growth platforms For personal use only Exploration Asset acquisitions Value add projects CENTRAL PETROLEUM LIMITED (ASX: CTP) 11

12. Slide 12: Asset portfolio has never been stronger

    3 Asset portfolio has never been stronger For personal use only Exploration portfolio Queensland CSG NT operating assets • Mostly gas prone and • Targeting 150-180PJ Mereenie (50%) significantly (100% of JV) • 22TJ/d gas production underexplored potentially recoverable capacity (Central • No longer

13. Slide 13: Near-term opportunities

    3 Near-term opportunities For personal use only CY 2018 CY 2019 Catalyst Q4 Q1 Q2 Q3 Q4  GAP completion  NGP opens (contracted gas sales nearly triple)  PV13 tie-in and production testing  New contracts for 2020 gas supply  Santos plans to drill Dukas in EP112  Progress high value exploration

14. Slide 14: Boundless Possibilities

    Boundless Possibilities For personal use only 1 What we’ve made possible – fast-track project delivery & safe operations 2 What’s now possible – on the threshold of transformational growth 3 Future possibilities – a portfolio of investment opportunities CENTRAL PETROLEUM LIMITED 14

15. Slide 15: Notice and Legal Disclaimer

    Notice and Legal Disclaimer For personal use only To the maximum extent permitted by law: 1. This presentation is not 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 Ltd

16. Slide 16: Contact and Further Information

    For personal use only Level 7, 369 Ann Street Brisbane QLD 4000 Australia +61 (0)7 3181 3800 Contact and Further Information Investor and media enquiries: info@centralpetroleum.com.au Helen McCrombie at Citadel-MAGNUS T: +61 (0)2 8234 0103 M: +61 (0)411 756 248 www.centralpetroleum.com.au CENTRAL PE

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