RNS Number:8918U
Caspian Holdings plc
30 November 2005


30 November 2005

                              Caspian Holdings Plc
                          ("Caspian" or "the Company")

             Completion of Stage 1 of Zhengeldy Workover Programme

Caspian has completed the first stage of the workover programme at the Zhengeldy
oilfield in Kazakhstan. Under this programme cement repair jobs have been
completed on wells 106 and 107 and new perforations have been shot in in wells
107, 114, 115 and 123.

        Well   Net Pay in target level (m)   Perforation Level (m)
         106              6                        238-241
         107              8                        227-231
         114              4                        348-351
         115              5                        157-159
         123             11                        314-316

Oil production rates from these wells will be tested during December. In the
event that well 115 tests positive flow rates, well 116 will also be perforated
at the same level.

Following identification of larger net pays in producing wells 111 and 112
increased perforations will be shot in these wells in January 2006.

Caspian Holdings is still awaiting a decision from the Kazakhstan Ministry of
Energy on its extension license application, which, if approved will open up new
expansion opportunities for the Company. The market will be updated when a
decision is confirmed.

Ends

Enquiries:

Caspian Holdings Plc    Hoodless Brennan          Parkgreen Communications
Michael Masterman       Luke Cairns               Justine Howarth / Ana
                                                  Ribeiro
T: +44 (0) 7791288381   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

END
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