Central Petroleum Limited advises that further flow testing of the Surprise-1 Re-entry H (S1REH) well has resulted in a c.20% increase in sustained flow rate via a 32/64" choke to 380 bbls/day with a low 4.4% drilling fluid and/or water cut-reduced from a previous average of 8%.

The well is temporarily shut in for pressure build analysis and has reached over 520 PSI thus far and now increasing at 1.5 PSI per hour.

The Company plans to have the current oil flowed to date analysed and an interim reservoir analysis conducted to determine the best flow regime for an extension of the current well test programme, contingent on various logistic issues.

The oil flowed to date is a "light sweet crude" with an API Gravity averaging 40 Degrees. There is no evidence of Hydrogen Sulphide (H2S).

The Company's Share Purchase Plan with Shares available at $0.055 to Shareholders on the Record Date will remain open until and including 25 January 2012.

Tags: Central Petroleum Limited