RNS Number : 6505X
  Caspian Holdings plc
  27 June 2008
   

    Caspian Holdings Plc
    ("Caspian" or the "Company")
    27 June 2008

    Caspian receives approval to restart oil production operations

    Caspian Holdings Plc (AIM:CSH), the oil and gas exploration Company with leases in Kazakhstan and the USA announces that it has received
work programme approval for its Zhengeldy project in Kazakhstan from Zapkaznedra. This approval will enable the re-start of production at
Zhengeldy. 
    The Company took the decision to suspended production and exports in early 2008, whilst waiting for work programme approval. Prior to
suspension, the Zhengeldy project was producing approximately 120 bbl per day. The Company anticipates that production will reach a similar
level following an initial ramp up period.
    Commenting on the re-start of production, Michael Masterman, CEO of Caspian Holdings said: "We are pleased to have received this
critical approval in order to re-start production at Zhengeldy. The Company completed a new export facility at Karsak last year and we are
delighted that approval has been granted at such a buoyant time in the oil market. With oil prices in excess of $130 per barrel it is a
great time for us to recommence oil production."

     Enquiries:
    Caspian Holdings Plc                        Grant Thornton UK LLP
    Michael Masterman                           Fiona Owen
    T: +44 (0) 7791 288381                    T: +44 (0) 20 7383 5100

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

    www.caspianoil.co.uk 



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