CEK Caspian Energy

RNS Number:0891B
Caspian Energy Inc
05 April 2006


                              CASPIAN ENERGY INC.

     Caspian Energy Inc. Announces Closing of $50 Million Private Placement

Caspian Energy Inc. (the "Company" or "Caspian") (TSX and AIM: CEK), an oil and
gas exploration company operating in Kazakhstan, is pleased to announce that its
previously announced underwritten private placement of common shares closed
today. An aggregate of 19,609,000 common shares were issued and sold under the
private placement (including the common shares issued as a result of the full
exercise by the underwriters of the option to purchase up to an additional
5,883,000 common shares), at a price of $2.55 per share, resulting in gross
proceeds of $50,002,950 to Caspian.

The private placement was underwritten by a syndicate led by Orion Securities
Inc., and including Jones, Gable & Company Limited. As partial consideration for
their services under the private placement, the Corporation also issued to the
underwriters warrants exercisable to purchase up to 588,270 common shares of
Caspian, at a price of $2.77 per share, at any time on or before April 5, 2008.

For further information contact:

Caspian Energy Inc.
William Ramsay
President and Chief Executive Officer
00 7 3272 54 31 27

Bell Pottinger Corporate and Financial
Geoff Callow/Elizabeth Fievet
00 44 20 7861 3232


NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES.





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

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