CEK Caspian Energy

RNS Number:0999K
Caspian Energy Inc
06 October 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")                                             
                    Logging Results for East Zhagabulak #303
                                        
                                        
TSX: CEK
AIM: CEK


Caspian Energy Inc ("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 an intermediate logging
run over its primary targets, the KT 1 and KT 2, in its third exploration well.
Aral is currently preparing to deepen the well to a Devonian target, by
approximately an additional 700 meters (2300 feet). The Zhagabulak Area is
located in the southeast corner of the North Block.

East Zhagabulak #303 has reached an intermediate depth of 4909 meters (16,105
feet) and was logged prior to drilling the Devonian section. According to the
preliminary log results, the well has encountered about 80 meters (262 feet) of
net pay in the Middle Carboniferous. The Company plans to set production casing
over the Carboniferous after drilling and evaluating the Devonian target. If the
Devonian is prospective, then the production casing will be run to total depth.
The well will be tested in the fourth quarter following acid stimulation.

After further evaluation of the logs and stimulation report on East Zhagabulak #
302, the KT 2 will be re-acidized and tested in the fourth quarter.

Aral has completed upgrades to its production plant to improve the plant's
throughput capacity, efficiency, and safety.

"This well adds to the success of our first exploration well, EZ #301, and
confirms our exploration strategy of pursuing the southwest trend. EZ #303 is 10
km southwest of our first producing well, EZ #213," said Charles Summers,
Caspian Energy Inc. Chief Operations Officer. "Our fourth exploration location,
EZ #304, approximately 7.3 km. northwest of 303, has been staked and will be
spudded after the drilling rig is released from well 303, approximately the end
of November."


For further information, please contact:

Bell Pottinger Corporate and Financial
Ann-marie Wilkinson/Elizabeth Fievet             00 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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