RNS Number:4601S
Caspian Holdings plc
16 April 2008

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

16 April 2008

                          Caspian Expands into the USA
       Signing 240 acre lease agreement with Vitoriano Serri Oil Company

Caspian Holdings Plc (AIM:CSH), the oil and gas exploration Company announces
that it has entered into a significant oil lease agreement with Vitoriano Serri
Oil Company (Serri), for the lease of a highly prospective 240 acre oil license
in the San Joaquin basin of Bakersfield, California.

With producing oil wells on the border of the lease and a large exploration
target in the deeper antelope shale, the lease provides Caspian with the
potential for US oil production and significant growth in recoverable reserves.

Caspian will commence geological and geophysical studies to estimate resources
and select well locations over the next two months. The Company expects to drill
one to two wells in the second half of 2008.

Caspian has a 100% interest in the lease, subject to formal confirmation of
title on April 30 2008, and under the agreement will pay a 20% royalty to Serri
on commercial production from the field. Under the lease Caspian is required to
drill a minimum of one well by the end of 2008.

Commenting on the agreement, Michael Masterman, CEO of Caspian Holdings said: "I
am delighted to be able to announce the signing of this lease, which will in
effect see Caspian expand it's focus into the USA. The license agreement with
Vitoriano Serri Oil Company gives the Company access to a highly prospective oil
exploration project at a time when oil prices are buoyant.

"Whilst waiting for approval on our Supervision of Development Plan for the
Zhengeldy Field in Kazakhstan, we have been open to opportunities globally,
which we believe fit our business model and have the potential to provide our
shareholders with value, this is one of those opportunities. We hope to have
drilled between one and two wells during the second half of 2008 and look
forward to updating the market."

Enquiries:
Caspian Holdings Plc              Grant Thornton Corporate Finance
Michael Masterman                 Fiona Owen
T: +44 (0) 7791 288381            T: +44 (0) 20 7383 5100
www.caspianoil.co.uk

Hoodless Brennan                  Parkgreen Communications
Luke Cairns                       Ana Ribeiro / Justine Howarth
T: +44 (0) 20 7538 1166           T: +44 (0) 20 7851 7480

Mr Dietmar Greil, Executive Director and Chief Operating Officer of Caspian
Holdings Plc is a "qualified person" with over 20 years experience in
Exploration and Development in the oil industry. This press release has been
prepared under Mr Greil's supervision.






                      This information is provided by RNS
            The company news service from the London Stock Exchange

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