CEK Caspian Energy

RNS Number:5889G
Caspian Energy Inc
21 July 2006


Not for release, distribution or publication in whole or in part in or into the
United States, Australia or Japan


                               CASPIAN ENERGY INC.
                          ("Caspian" or the "Company")

                      Test Results for East Zhagabulak #302


TSX: CEK
AIM: CEK


Caspian Energy Inc ( the "Company" ), an oil and gas exploration company
operating in Kazakhstan, today announces that Aral Petroleum Capital LLP
("Aral"), in which the Company holds a 50% indirect interest, has completed a
flow-test in the Zhagabulak Area in the southeast corner of the North Block.

The Company's second exploration well, East Zhagabulak #302, reached a total
depth of 4950 meters (16240 feet) and perforated approximately 104.5 meters
(342.6 feet) in Middle Carboniferous. The exploration well was acidized and
tested in two intervals. Neither interval would sustain flow.

"While EZ #302 logs indicate hydrocarbons and we have recovered some oil, the
well will not flow continuously" said Charles Summers, Caspian Energy Inc. Chief
Operations Officer. "Although we hoped for a better outcome, we plan to change
the stimulation programme for upcoming wells, in particular wells 213 and 303.
The well, 302, will be shut in pending further evaluation".

Our third exploration location, EZ #303, approximately 5.2 km. southwest of well
302, is drilling at 3400 meters. The results of this well will be known at some
point during the fourth quarter of 2006. There is a secondary target beneath the
Carboniferous; therefore, the well was permitted to 5700 meters (18,696 feet).


For further information, please contact:

Bell Pottinger Corporate and Financial
Elizabeth Fievet                                     + 44 (0) 20 7861 3232


CAUTIONARY NOTE


Some of the statements and information contained in this news release may
include certain estimates, assumptions and other forward-looking information.
The actual performance, developments and/or results of the Company may differ
materially from any or all of the forward-looking statements, which include
current expectations, estimates and projections, in all or in part attributable
to general economic conditions, and other risks, uncertainties and circumstances
partly or totally outside the control of the Company, including oil prices,
imprecision of reserve estimates, drilling risks, future production of gas and
oil, rates of inflation, changes in future costs and expenses related to the
activities involving the exploration, development, production and transportation
of oil, hedging, financing availability and other risks related to financial
activities, and environmental and geopolitical risks. Further information which
may cause results to differ materially from those projected in the
forward-looking statements is contained in the Company's filings with Canadian
securities regulatory authorities. The Company disclaims any intention or
obligation to update or revise forward-looking information, whether as a result
of new information, future events or otherwise, except in accordance with
applicable securities laws.



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

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