Caspian Energy Inc.

Caspian Energy Inc.

April 08, 2016 17:00 ET

Caspian Energy Inc. Announces Appointment of New General Director of Aral Petroleum

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 8, 2016) - Caspian Energy Inc. (NEX:CKZ.H) ("Caspian") is pleased to announce the appointment of Zhaik Zhexembayev as the new General Director of Caspian's wholly-owned subsidiary, Aral Petroleum Capital LLP ("Aral" or "the Company"), effective immediately.

The appointment of Mr. Zhexembayev, which remains subject to approval by the NEX, follows the resignation of Erbolat Kulumbetov, who will continue on as an advisor on technical matters to Aral. Mr. Zhexembayev has been Aral's Financial Analyst since 2012 and has worked for the Company since 2010. Mr. Zhexembayev holds a degree in Economics from the Beijing Jiaotong University School of Economics and Management, and speaks English, Chinese, Kazakh and Russian.

"We are delighted that Mr. Zhexembayev has agreed to accept the position of General Director of Aral," said Michael Nobbs, the Chairman of the Board. "Mr. Zhexembayev is a long-standing employee of Aral and has strong knowledge of the financial industry. He is well positioned to take on the responsibility for managing Aral's operations on the ground as General Director from Mr. Kulumbetov. We also wish to thank Mr. Kulumbetov for his service to Aral during his tenure as General Director, and look forward to continuing to work with him in the future"

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation which we refer to herein, collectively, as "forward-looking information". Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved" and include statements relating to Caspian's actual performance, developments and/or results may differ materially from any or all of the forward-looking statements. Further information which may cause results to differ materially from those projected in the forward-looking statements is contained in Caspian's filings with Canadian securities regulatory authorities. All material assumptions used in making forward-looking information are based on management's knowledge of current business conditions and expectations of future business conditions and trends. Although Caspian believes the assumptions used to make such statements are reasonable at this time and has attempted to identify in its continuous disclosure documents important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Caspian does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the NEX) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Michael Nobbs
    Chairman of the Board of Directors