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Commercial Oil Discovered

22 Mar 2005 07:00

Caspian Holdings plc22 March 2005 22 March 2005 CASPIAN HOLDINGS PLC Commercial Oil Discovered in Well 115 Further to the announcement on 21 January 2005, Caspian Holdings Plc (AIM: CSH),the oil and gas exploration and development company which focuses on Kazakhstanand the Caspian sea, has successfully drilled Well 115 the 6th well. Well logs showed oil in the Triassic at 634-625 metres and in the Neocomian at90-84 metres. Well 115 • Depth 680 metres • Completed March 05 • Oil pay 15 meters • 2 Levels: 634-625 m, 90-84 m First layer test at the Triassic level showed low flow rates and this level hasbeen shutin pending further testing and investigations. The Necomian level from90-84 meters will be perforated and oil production is expected to commence thisweek. In addition to Well 115, spontaneous eruptive production commenced from an oldZhengeldy well - Well 13 - without any drilling or other stimulation. A pump hasbeen installed and well performance is to be tested. Caspian currently has 6 wells in production - 113, 114, 112, 111 in theJurassic, 115 in the Necomian, and the old Well 13. Initial production has beenhighest in the last 2 wells to be drilled in the Jurassic - Well 111 and Well112 - with Well 115 expected to come on stream in the coming month. Productionhas increased rapidly in recent months but remains highly constrained bybottlenecks caused by the extreme weather conditions in the region. Caspian hascommenced drilling well 116 targeted at both Jurassic and Triassic reserves. Michael Masterman, Executive Chairman commented: "The addition of Well 115 meansthat we will now have 6 Wells in production despite adverse weather conditions.Success at 115 and the spontaneous eruption of well 13, an old Zhengeldy Wellmakes us positive about the future production of these wells and the potentialof increasing production levels." - Ends - For further information, please contact: Caspian Holdings Plc Hoodless Brennan Parkgreen CommunicationsMichael Masterman Luke Cairns Justine Howarth / Ana RibeiroT: +447791288381 T: +44 (0) 20 7538 1166 T: +44 (0)20 7493 3713 This information is provided by RNS The company news service from the London Stock Exchange
Date   Source Headline
28th Mar 20123:20 pmRNSIssue of Equity
7th Feb 20122:50 pmRNSCaspian announces £460,000 Placing
6th Feb 20129:30 amRNSOption Extension at La Parrilla Tungsten Mine
11th Jan 20127:00 amRNSDrilling Campaign Commences at La Parrilla
30th Dec 20117:00 amRNSCaspian Completes £210,000 Placing
19th Dec 201111:00 amRNSResult of General Meeting
30th Nov 20117:00 amRNSCaspian to acquire La Parrilla Tungsten Project
9th Sep 201111:48 amRNSHalf Yearly Report
1st Jul 201111:28 amRNSResult of AGM
24th Jun 201110:06 amRNSCaspian Completes £80,000 Placing
10th Jun 20117:00 amRNSAnnual Report and Notice of AGM
12th Apr 20114:51 pmRNSHolding in Company
29th Sep 20107:00 amRNSHalf Yearly Report
19th Jul 20104:50 pmRNSHolding in Company
9th Jul 201011:47 amRNSHolding in Company
7th Jul 20105:38 pmRNSDirector Shareholding
29th Jun 201011:18 amRNSResult of AGM
22nd Jun 201011:57 amRNSHolding in Company
14th Jun 20104:25 pmRNSOperational Update
14th Jun 20104:25 pmRNSCaspian Completes ?200,000 Placing
8th Jun 20103:07 pmRNSNotice of AGM and Annual Report
24th May 201011:00 amRNSFinal Results
9th Apr 20107:00 amRNSTrading Update
22nd Dec 20097:54 amRNSFirst Oil Shipment in Kentucky
30th Oct 20094:19 pmRNSIssue of Shares
12th Oct 20095:44 pmRNSStatement Regarding Share Price Movement
30th Sep 20093:45 pmRNSInterim Results
10th Jul 200911:54 amRNSTrading Update
29th Jun 200912:51 pmRNSResult of AGM and Issue of Equity
3rd Jun 20095:14 pmRNSCircular to Shareholders and Notice of AGM
28th May 20093:23 pmRNSIssue of Shares
22nd May 20093:29 pmRNSFinal Results
22nd May 20093:00 pmRNSDebt for Equity Swap Agreement
29th Apr 20099:23 amRNSTrading Update
11th Feb 200912:33 pmRNSKazakhstan Court Case Update and Trading Update
14th Jan 200912:47 pmRNSCaspian Completes ?42,000 Placement
14th Jan 20098:43 amRNSCaspian wins Initial Kazakhstan Court Case
25th Nov 200812:09 pmRNSCaspian Completes ?50,000 Placement
7th Nov 20088:42 amRNSDirectorate Change
26th Sep 200811:48 amRNSInterim Results
18th Sep 20087:00 amRNSExpands Black Gold Lease Holdings in Irvine Field
1st Sep 200812:52 pmRNSZhengeldy Regulatory Update
4th Aug 200811:27 amRNSResult of AGM
25th Jul 20087:00 amRNSDirector Shareholding
17th Jul 20081:51 pmRNSHolding in Company
9th Jul 20088:30 amRNSHolding in Company
8th Jul 200810:44 amRNSFuther Expansion into the USA
27th Jun 20088:00 amRNSApproval to Restart Productio
27th Jun 20087:00 amRNSAnnual Report and Accounts
28th May 20089:01 amRNSPlacing and USA Lease Update

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