CEK Caspian Energy

RNS Number:1442W
Caspian Energy Inc
04 May 2007


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")

Operations Progress Report

TSX: CEK
AIM: CEK

Caspian Energy Inc., 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 fishing operations and retrieved
the lost wire line and logging tool from East Zhagabulak #301. The well was
returned to production on 14 April 2007. After recovering most of the water used
in the workover, the well has stabilized at 981 barrels of oil per day, 13
barrels of load water per day and 1,180 MCF of gas per day with a flowing tubing
pressure of 617 psi on a 12 mm choke. The load water is expected to diminish
over time.

East Zhagabulak #303, the third exploration well, is being swabbed to remove
water and spent acid used in the well stimulation program. Nearly all of the
load water and spent acid has been recovered with only a trace of oil.
Preparations are being made to isolate the lower KT-2 perforations and then to
test the upper intervals.

Charles Summers, President, Caspian Energy, Inc. commented: "We have
successfully completed a difficult fishing operation on EZ #301. We are
currently producing about 1,400 barrels of oil per day from wells 301 and 213.
We are preparing to isolate some of the lower perforated intervals in well #303,
which based on log analysis contain a higher water content than the shallower
intervals and are believed to be contributing formation water during swabbing.
After the lower intervals are isolated, the upper intervals, which are primarily
in the KT-1, will be tested. We do not expect any further results from this well
for about 45 to 60 days."
Ends

For further information, please contact:

Bell Pottinger Corporate & Financial +44 (0)20 7861 3232
Angus Prentice / Algy Rowe

Jefferies International Limited +44 (0)20 7618 3500
Toby Hayward / Oliver Griffiths

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.

The information in this release has been reviewed by Edgar Folmar, SPE, who is a
qualified person for the purposes of the AIM Guidance Note for Mining, Oil and
Gas Companies. Mr. Folmar, Director of Operations for Aral and a consultant for
Caspian Energy Inc., is a qualified petroleum engineer and has over 20 years
experience in oil and gas exploration and production.




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

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