Caspian Energy Inc. ("Caspian") (TSX:CEK) is pleased to announce the signing of
a number of agreements (the "Transaction Agreements") whereby its Kazakhstan
subsidiary expects to be able to immediately implement the previously announced
testing of certain wells based on the advice of outside consultant Mr. Roger
Nutt (the "Nutt Plan") over two wells within the next 90 days. Pursuant to the
Transaction Agreements, additional financing has been committed to Aral
Petroleum Capital LLP ("APC"), a Kazakhstan partnership in which Caspian
indirectly holds a 40% interest, to cover operating expenses, as well to Caspian
to cover ongoing overhead and accounts payable. The financing will permit
drilling which will allow APC to meet its 2013/14 License drilling commitments
in the North Block. 


The Transaction Agreements provide for the availability of a loan of US$20
million to APC for the purpose of funding APCs operations. It is intended that
proceeds from this loan will, in part, be used to fund the work prescribed in
the work program agreed with the Ministry of Oil and Gas in Kazakhstan. This
work program envisages the drilling of a deep exploration well in the Baktygaryn
and Aransay area. As well, one shallow well is planned to be drilled in Itassay.



APC has two existing wells for which testing has been approved and will commence
imminently under with the Nutt Plan. Of particular note is well 316, which is to
be tested first, and for which US$2 million of the above mentioned US$20 million
loan has been allocated. All required approvals to test well 316 have been
granted. Negotiations are underway with local contractors with a view to
commencing testing in the very near future and a rig is currently available for
this purpose. 


The Transaction Agreements amend the loan agreement between Caspian's
wholly-owned subsidiary, Caspian Energy Ltd. ("CEL"), and Asia Sixth Energy
Resources Limited to allow CEL to draw US$100,000 each month from now until
November and to draw an additional US$1,400,000 as early as December 28, 2013.
These funds will enable Caspian to bring current all of its existing payable and
to cover its budgeted operating expenses over the next 18 months. 


In return for raising the financing contemplated in the Transaction Agreements,
CEL's partners in APC, being Asia Sixth Energy Resources Limited ("ASER") and
its subsidiary Groenzee B.V. ("Groenzee" and together with ASER, "CEL's
Partners"), require CEL to transfer to them part of its ownership interest in
APC resulting in CEL's interest in APC reducing from 40% to 33.5% provided CEL's
Partners comply with their obligations under the Transaction Agreements. 


"Clearly", Caspian Chairman and CEO William Ramsay commented, "this new
arrangement places Caspian Energy Inc. in a significantly stronger position.
With an improved balance sheet and new financing available for both capital
expenditures and budgeted operating expenses for the next year, we will be able
to return to our core business: exploring for oil. The North Block offers proven
upsides, and we will now recommence those efforts by implementing the Nutt Plan
over the next 90 days, and pursuing an exciting new well drilling program in
2013/14. I would like to thank all our various stakeholders for their ongoing
support as we enter this critical but exciting phase".


Further to Caspian's press release of June 11, 2013, the TSX has announced that
it will delist Caspian's common shares effective at the close of market on July
11, 2013 due to the TSX Continued Listing Committee's view that Caspian was not
meeting the continued listing requirements of the TSX. Caspian has provided
notice to the TSX that it is appealing this decision and will submit written
arguments to the TSX. The TSX has encouraged on-going dialogue as Caspian moves
forward with its plans and Caspian intends to pursue this. Caspian also plans to
make an application for listing on NEX, subject to the outcome of its appeal to
the TSX. 


A summary of some of the material aspects of the Transaction Agreements follows.
The material Transaction Agreements will be filed by Caspian on SEDAR at
www.sedar.com.


Sale and Purchase Agreement between CEL and Groenzee for 6.5% Participating
Interest in APC 




--  CEL sells a 6.5% interest (the "Interest") in APC to Groenzee for
    consideration of US$1. The transaction is to be completed upon
    satisfaction or waiver of all conditions precedent. 
    
--  Conditions in favour of Groenzee include: (i) consent from the Ministry
    of Oil and Gas of Kazakhstan (this could take 6-18 months but note that
    other items below can proceed before this consent is received), (ii) a
    waiver from the Government of Kazakhstan relating to its priority right
    to purchase the Interest, and (iii) approval of Caspian's debenture
    holders. 
    
--  Conditions in favour of CEL include: (i) receipt of a letter from
    Groenzee's investors confirming the availability of loans of not less
    than US$20,000,000; (ii) receipt by APC of the initial US$2,000,000 of
    advances from Groenzee required to complete certain specified testing of
    oil wells (the "Nutt Testing"); and (iii) Groenzee having failed in its
    obligation to make advances under the loan agreements. 
    
--  If Groenzee fails to advance any loan to APC as required under the APC
    Loan Agreement (described below) following the transfer of the Interest
    to Groenzee, then Groenzee must transfer the Interest in APC back to
    CEL. 



APC Loan Agreement between Groenzee (as lender) and APC (as borrower) (the "APC
Loan Agreement")




--  All of the existing loans from ASER to APC are consolidated under this
    agreement. There is an additional Deed of Transfer pursuant to which
    Groenzee steps into ASER's shoes in respect of this facility. 
    
--  The agreement contemplates a new US$40,000,000 loan facility (the "New
    Facility") as follows: (i) the first US$2,000,000 is to be used for the
    Nutt Testing as contemplated in the Wells Testing Agreement; (ii) the
    next US$18,000,000 is "committed" subject to satisfaction of certain
    conditions precedent; and (iii) the last US$20,000,000 to be advanced
    only at the discretion of Groenzee (i.e. this part is uncommitted). 
    
--  Conditions precedent for any advance under the New Facility include: (i)
    execution and delivery of the Subordination Deed, the Guarantee, the
    Share Pledge Agreement, the Sale and Purchase Agreement relating to the
    Interest, and the Wells Testing Agreement (all described herein); (ii)
    registration of this loan agreement with the National Bank of the
    Republic of Kazakhstan; (iii) consent from Caspian's debenture holders;
    and (iv) all corporate authorizations. 
    
--  Conditions precedent required to draw amounts after the first
    US$2,000,000 include: (i) consent from the Ministry of Oil and Gas of
    the Republic of Kazakhstan relating to the Share Pledge; and (ii)
    completion of the transfer of the Interest (this could take 6 - 18
    months as it requires government consent). 
    
--  Draws under the US$18,000,000 portion of the facility may be made at any
    time until the earlier of: (i) 2 years from the date of the first
    advance under the US$18,000,000 facility, and (ii) 30 months from the
    date of this loan agreement. 
    
--  The agreement permits CEL, on behalf of APC, to execute and deliver to
    Groenzee a notice of drawing if all other conditions have been
    satisfied. 
    
--  The proceeds of all advances are to be paid to an account of APC and may
    only be applied upon the prior written consent of the General Director
    of APC. Accordingly, the General Director's cooperation is required to
    make payment to third parties on account of the Nutt Testing or
    otherwise. 
    
--  Interest in respect of all loans is at a rate of 15% per annum and is
    not due until the repayment date. 
    
--  The loans are to be repaid on the earlier of: (i) the second anniversary
    following the first advance under the US$18,000,000 facility, and (ii)
    30 months following the date of this loan agreement. 
    
--  In addition, the proceeds from any debt or equity financings of APC must
    be immediately applied towards the repayment of the loans under this
    agreement. 
    
--  Events of default include failure to pay, breach of covenant, breach of
    representation, cross default, typical insolvency type proceedings and
    actions in respect of APC, CEL or Caspian, and an event of default by
    CEL under the US$6M Caspian Loan Agreement (described below). 
    
--  Upon the occurrence of an event of default, the facilities may be
    cancelled, the amounts owing accelerated, and all security and
    guarantees enforced. 



Wells Testing Agreement between ASER, Groenzee and CEL



--  Upon signing the APC Loan Agreement, ASER is deemed to have fully
    satisfied all of its obligations under Article 7.2 of the Foundation
    Agreement with respect to securing the "LLP Loan" (i.e. the
    US$80,000,000 of financing).  
    
--  The parties must exercise their powers under the Foundation Agreement
    and the Charter of APC to cause APC to enter into a contract for works
    relating to the testing of the wells as may be "reasonably directed by
    Caspian, provided that such works do not materially deviate from the
    work" described in the proposed tender for works attached to the
    agreement. 
    
--  Upon making the US$2,000,000 advance and the completion of the Nutt
    Testing as defined above, ASER will be released from its obligations
    under the February 2013 agreement to ensure all Nutt Testing work is
    completed. Note that ASER's obligation under the February 2013 agreement
    with respect to completing Nutt testing work is broader than the
    obligation under this Wells Testing Agreement. Most significantly, the
    Wells Testing Agreement caps the expenditures for this work at
    US$2,000,000. 
    
--  CEL will not be required to make any cash calls (as defined in the
    Foundation Agreement) until 3 months following the earlier of (i) the
    full advance by Groenzee of US$20,000,000 under the APC Loan Agreement,
    and (ii) one year from the execution of the documents. 



US$6,000,000 Caspian Loan Agreement between CEL (as borrower) and Groenzee (as
lender) ("US$6M Caspian Loan Agreement")




--  This agreement amends and restates the existing US$6,000,000 Loan
    Agreement between CEL and ASER. There is an additional Deed of Transfer
    pursuant to which Groenzee assumes ASER's rights and obligations in
    respect of this facility. 
    
--  US$2,000,000 remains available under the facility. US$4,000,000 has
    previously been drawn. 
    
--  CEL will be permitted to draw up to US$100,000 during each calendar
    month until December 28, 2013 at which time, until expiry, CEL may draw
    the undrawn balance of the US$2,000,000 commitment. 
    
--  Conditions required to be satisfied in order to draw under the facility
    include: (i) copies of corporate documentation; (ii) execution of all
    relevant financing documents; and (iii) legal opinions relating to
    corporate matters. 
    
--  The ability to draw under the facility expires after 12 months. 
    
--  The loans are to be repaid with all proceeds received by CEL by way of
    dividends from APC or from the sale of any asset by CEL. The balance of
    all principal and interest still owing on November 1, 2020 must be
    repaid on such date. 
    
--  Interest accrues at a rate of 10% until December 28, 2016 and thereafter
    at a rate of 18%, calculated and compounded annually, as well as on any
    date repayment is to be made. 
    
--  The agreement contains typical representations and warranties that are
    consistent with the existing US$6,000,000 facility with ASER. 
    
--  The agreement contains typical covenants that are consistent with those
    contained in the existing agreement with ASER. 
    
--  The agreement contains events of default which are typical and
    consistent with the events of default contained in the agreement with
    ASER. 



Deed of Transfer and Amendment Between ASER (as Transferor), Groenzee (as
Transferee) and CEL (as Borrower)




--  This deed provides for the transfer of the US$6M Caspian Loan Agreement
    by ASER to Groenzee. Accordingly, the obligation to advance will now be
    that of Groenzee in place of ASER. 
    
--  This agreement also provides for the amending and restating of the
    existing US$6M Caspian Loan Agreement on the terms set out in the
    agreement described above. 



Pledge Agreement Between CEL (as Pledgor) and Groenzee (as Pledgee)



--  This agreement provides for a pledge by CEL of all of its interest in
    APC in favour of Groenzee as security for: (i) CEL's obligations under
    the US$6M Caspian Loan Agreement, and (ii) the Relevant Percentage of
    APC's obligations under the APC Loan Agreement. The "Relevant
    Percentage" is defined as 40%, provided that upon completion of the
    transfer of the 6.5% interest to Groenzee, the Relevant Percentage will
    mean 33.5%. 
    
--  The pledge is subject to consent from the Ministry of Oil and Gas of the
    Republic of Kazakhstan (could take 6 to 18 months). 
    
--  The pledge requires CEL to ensure the pledged interest remains free and
    clear of encumbrances and is otherwise not sold or assigned. 
    
--  The pledge becomes enforceable upon an event of default under either the
    US$6,000,000 facility or the APC facility. Note that a default by APC
    under the APC facility will result in a default by CEL under this
    pledge. 



Guarantee by CEL (as Guarantor) in Favour of Groenzee (as Lender)



--  This guarantee provides for the guarantee by CEL of the "Relevant
    Percentage" of the obligations owed by APC to Groenzee under the APC
    Loan Agreement. The "Relevant Percentage" is defined as 40%, provided
    that upon completion of the transfer of the 6.5% interest to Groenzee,
    the Relevant Percentage will mean 33.5%. 



Subordination Deed Between APC (as Borrower), CEL (as Subordinated Lender) and
Groenzee (as Senior Lender)




--  This agreement provides for the complete and deep subordination of all
    obligations currently owing by APC to CEL, in favour of obligations
    owing by APC to Groenzee under the APC Loan Agreement. 
    
--  CEL is prohibited from taking any action to enforce its rights in
    respect of the subordinated obligations so long as any amounts remain
    owing by APC to Groenzee. 



Investor Undertakings



--  This is a letter from parties who are investors in ASER in favour of
    CEL. The letter provides that loans up to US$20,000,000 will be made
    available to ASER for the purpose of on-lending such funds to Groenzee
    and APC. 
    
--  The letter confirms that the availability of these loans is not subject
    to any internal or external approvals or further conditions. 



Deed of Transfer between ASER (as Transferor), Groenzee (as Transferee) and APC
(as Borrower)




--  This deed of transfer transfers a US$8,000,000 loan currently owing by
    APC in favour of ASER to Groenzee. 



First Supplemental Agreement to the Foundation Agreement



--  This document amends the Foundation Agreement. The Foundation Agreement,
    is in effect, the "shareholders agreement" relating to APC. The
    Foundation Agreement contains a covenant from ASER to secure US$80M of
    financing. 
    
--  Under this first supplemental agreement, ASER is deemed to have
    satisfied its obligations under the Foundation Agreement to secure
    US$80M of financing for APC. 
    
--  In the event Groenzee enforces its rights under the Share Pledge, it is
    a condition of any such sale that the buyer of CEL's interest in APC
    must purchase from Groenzee a 33.5% portion of the loans then owing by
    APC to Groenzee. The purchase price for such loans must be face value
    and upon completion of such sale, CEL will be released from its
    obligations under its guarantee. 



Second Supplemental Agreement to the Foundation Agreement



--  This agreement further amends the Foundation Agreement relating to APC. 
    
--  The amendments in this agreement take effect upon completion of the
    transfer of the 6.5% interest from CEL to Groenzee. Note that the
    completion of the transfer will not occur until the parties receive the
    required consent from the Ministry of Oil and Gas in Kazakhstan. 
    
--  The agreement restates the percentage ownerships and votes in APC to
    reflect that CEL will, thereafter, have a 33.5% interest with 33.5 votes
    out of 100. 



Subordination Letter from Caspian



--  Caspian agreed to subordinate any rights it has to recover amounts owed
    to it by CEL in favour of Groenzee's rights. 



Forward Looking Statements - Certain information set forth in this news release
may contain forward-looking statements that involve substantial known and
unknown risks and uncertainties. These forward-looking statements are subject to
numerous risks and uncertainties, certain of which are beyond the control of
Caspian, including, but not limited to the satisfaction of all conditions set
out above, the closing of the funding of the loan agreement and the ability of
Caspian to meet its future obligations with respect to APC, the impact of
general economic conditions, industry conditions, currency fluctuation and
dependence upon regulatory approvals. Readers are cautioned that the assumptions
used in the preparation of such information, although considered reasonable at
the time of preparation, may prove to be imprecise and, as such, undue reliance
should not be placed on forward-looking statements.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Caspian Energy Inc.
William Ramsay
President and Chief Executive Officer
44 (0)773663 1378


Caspian Energy Inc.
Brian Korney
Chief Financial Officer
(403) 513-3375