Caspian Energy Inc.
NEX BOARD : CKZ.H
TSX VENTURE : CKZ.H

Caspian Energy Inc.

November 10, 2014 20:20 ET

Exploration Licence Extended for a Further Four Years, Caspian Reports

CALGARY, ALBERTA--(Marketwired - Nov. 10, 2014) - Caspian Energy Inc. (NEX:CKZ.H) ("Caspian") Chairman Michael Nobbs is pleased to report that Aral Petroleum Capital LLP ("Aral") has received a four year extension for its Exploration Licence (as defined below) up until December 2018, provided that certain additional commitments under the Contract (as defined below) are discharged. Caspian currently owns a 40% interest in Aral.

Background

Caspian is an oil and gas exploration and development company, operating in Kazakhstan through Aral, which has a number of targets in the highly prospective Aktobe Oblast of Western Kazakhstan. Caspian indirectly holds, through its interest in Aral, an exclusive licence (the "Exploration Licence") pursuant to an exploration contract (the "Contract"), which entitles it to explore and develop certain oil and gas properties known as the "North Block," an area of 1,467 square km, and a production contract for the area known as "East Zhagabulak".

Cautionary Note:

Forward Looking Statements - 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". 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, including statements relating to the discharge of certain additional commitments under the Contract, 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 TSXV) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Caspian Energy Inc.
    Michael Nobbs
    Chairman of the Board of Directors
    310-923-5032

    Brian Korney
    Acting Chief Executive Officer and Chief Financial Officer
    403-513-3375