WRES.L Regulatory News (WRES)

5 Apr 2006 10:04

Caspian Holdings plc05 April 2006 5 April 2006 Caspian Holdings Plc ("Caspian" or "the Company") 2006 Drilling Campaign Gains Momentum Caspian Holdings (AIM: CSH), the oil and gas exploration and production Companyfocused on shallow fields in Kazakhstan, announces an update on the 2006drilling campaign which is producing successful results. Well 102 was successfully drilled to a depth of 400 metres in a company recordof 12 days utilizing a new Western drilling bit. Two oil bearing levels in Well 102 have been identified from loginterpretations: • 6.6m from 176.5m to 183.1m and • 4.2m from 266.5m to 270.7m. The logs indicate that the shallower level (176.5m) has a 90% oil saturation andgood porosity and will be the first level to be cased, perforated, and tested.Testing will occur during April 2006 Initial oil production from Well 101, drilled in March, is positive andincreasing with a current rate at around 15 barrels per day. The 2006 drilling programme is proceeding on schedule with Well 103 on the saltlake to be the next new well drilled. Weekly updates of drilling progress can be viewed on the Company's website -www.caspianoil.co.uk/projects -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----------------------- Mr Dietmar Greil, Executive Director and Chief Operating Officer of CaspianHoldings Plc is a "qualified person" with over 20 years experience inExploration and Development in the oil industry. This announcement has beenprepared under Mr Greil's supervision. This information is provided by RNS The company news service from the London Stock Exchange