WRES.L Regulatory News (WRES)

14 Mar 2006 10:32

Caspian Holdings plc14 March 2006 14th March 2006 AIM: CSH Caspian Holdings Plc ("Caspian" or "the Company") Casing and Testing Well 101 following solid log results Caspian Holdings (AIM:CSH), the oil and gas exploration and production companyfocused on shallow fields in Kazakhstan announces that, following positiveelectric log interpretations, it has proceeded to case and test its first 2006well - Well 101. Well 101 was successfully drilled to a depth of 455 metres with interpretationof log results showing solid results that are in line with the Company'sgeological model. Six oil bearing levels have been identified in Well 101, with the best levelbeing a 7 metres net pay between 310 and 317 metres with a porosity of 30%. Theresult correlates geologically with the oil producing levels in Wells 111, 112and 107. Well 101 has been cased and a 5 metres perforation shot on this leveland testing will commence this month. In parallel with the drilling and testing of Well 101, the Company has continuedprogress with the workover programme, with increasing perforations on Wells 112and 115 and a new perforation in Well 116. The 2006 drilling programme is proceeding on schedule with Well 102 - the nextnew well to be drilled. Weekly updates of drilling progress can be viewed on the Company's website -www.caspianoil.co.uk/projects Mr Dietmar Greil, Executive Director and Chief Operating Officer of CaspianHoldings Plc is a qualified petroleum engineer with over 20 years experience inExploration and Development in the oil industry. He has extensive experience inthe development of oil fields in Russia and the other former Soviet Republics.This press release has been prepared under Mr Greil's supervision. -Ends- Enquiries: Caspian Holdings Plc Hoodless Brennan Parkgreen CommunicationsMichael Masterman Luke Cairns Justine Howarth / Ana RibeiroT: +44 (0) 7791288381 T: +44 (0) 20 7538 1166 T: +44 (0) 20 7493 3713www.caspianoil.co.uk This information is provided by RNS The company news service from the London Stock Exchange