CASPIAN - 2005 Year of Growth - Serious Discussion Thread

the export facility was due to complete in may, this news sent the sp from 37p to over 50p....... oh them were the days !

RNS Number:8021H
Caspian Holdings plc
26 January 2005


26 January 2005

CASPIAN HOLDINGS PLC ("Caspian" or "The Company")

Confirms high quality oil production at Zhengeldy and commences Export Facility
Construction

Caspian Holdings Plc (AIM:CSH), the oil and gas exploration and development
company which focuses on Kazakhstan and the Caspian sea has confirmed high
quality oil production from its Zhengeldy field. The company has also commenced
construction of its processing and export storage facility at the
"Makatmunaigas", a division of national oil and gas company KazMunaiGas at the
Eastern Makat 30km from Zhengeldy field.

The high quality of the oil reduces the processing costs as the oil has a low
API*, is low in sulphur with good viscosity and minimal impurities making it
suitable for export after low cost processing to reduce the salt content at the
new processing facility.

The construction of its own processing and export facility at the Makatmunaigas
site will incorporate a simple processing step to reduce the salt content to
ensure the oil meets export quality. The capital cost of the facility is
estimated at USD 300,000 and should be complete by the end of May 2005