CEK Caspian Energy

RNS Number:2793Z
Caspian Energy Inc
03 March 2006


NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

                              CASPIAN ENERGY INC.
                                  ("Caspian")

                               CASPIAN ANNOUNCES
                         UNDERWRITTEN PRIVATE PLACEMENT

Caspian Energy Inc. (TSX: CEK, AIM:CEK) is pleased to announce that it has
entered into an underwritten, private placement financing agreement with a
syndicate of underwriters led by Orion Securities Inc. and including Jones,
Gable & Company Limited to issue 13,726,000 common shares of Caspian at a price
of CAD$2.55 per share for total gross proceeds of CAD$35,001,300.

In addition, Caspian has granted the underwriters an option, exercisable in
whole or in part prior to closing, to purchase up to an additional 5,883,000
common shares at a price of CAD$2.55 per share, which would increase the size of
the offering up to CAD$50,002,950. Closing is conditional upon receipt of all
necessary approvals including approval of the TSX and is expected to occur on 22
March 2006.

Caspian intends to use the proceeds of this financing to drill two wells on the
Baktygaryn Block, to repay Aral Petroleum Capital for Caspian's share of the
bonus previously paid to Aral Capital and for general corporate purposes.
For further information please contact:

Bell Pottinger Corporate & Financial

Geoff Callow                                         00 44 (0) 20 7861 3232

CAUTIONARY NOTE
Certain statements contained in this press release constitute forward-looking
statements. Forward-looking statements relate to future events or the Company's
future performance. All statements other than statements of historical fact may
be forward-looking statements. Forward-looking statements are often, but not
always, identified by the use of words such as "seek", "anticipate", "budget",
"plan", "continue", "estimate", "expect", "forecast", "may", "will", "project",
"predict", "potential", "targeting", "intend", "could", "might", "should",
"believe" and similar words suggesting future outcomes or statements regarding
an outlook. Forward-looking statements in this press release include, but are
not limited to, statements with respect to: the performance characteristics of
the Company's oil and natural gas properties; drilling plans and the timing and
location thereof; plans for the exploration and development of the North Block;
plans for acid work and testing; the use of proceeds from the issue of the
Debentures; and capital expenditure programs.

Forward-looking statements involve known and unknown risks, uncertainties and
other factors that may cause actual results or events to differ materially from
those anticipated in such forward-looking statements. The Company believes the
expectations reflected in those forward-looking statements are reasonable but no
assurance can be given that these expectations will prove to be correct and
readers are cautioned not to place undue reliance on forward-looking statements
contained in this press release. Some of the risks and other factors which could
cause results to differ materially from those expressed in the forward-looking
statements contained in this press release include, but are not limited to:
volatility of oil and natural gas prices; liabilities inherent in oil and
natural gas operations; uncertainties associated with estimating oil and natural
gas reserves; competition for, among other things, capital, acquisitions of
reserves, undeveloped lands and skilled personnel; geological, technical,
drilling and processing problems; drilling and testing results, fluctuations in
currency and interest rates; product supply and demand; risks inherent in the
Company's foreign operations; changes in environmental and other regulations or
the interpretation of such regulations; political and economic conditions in the
Republic of Kazakhstan; the possibility that the financing will not close, and
the other factors discussed in this press release and in the Company's filings
with Canadian securities regulatory authorities which are available to the
public at www.sedar.com.




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

END
IOEXXLFBQXBXBBK

Caspian Energy (LSE:CEK)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Caspian Energy (LSE:CEK)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024