CSH 24.25- 25p +3p

news out very positive..........

("Caspian" or "the Company")
Salt Lake Drilling Results Delivers largest flow rate to date

Caspian Holdings (AIM: CSH), the oil and gas exploration and production Company
focused on shallow fields in Kazakhstan, announces that drilling results for
well 103 on the dry Zhengeldy salt lake has produced very strong test flow
results.

Well 103 was drilled to a depth of 302 metres in 9 days.

Two oil bearing levels in well 103 have been identified from log interpretations

* 8 metres from 176 metres to 184 metres
* 6 metres from 256 metres to 262 metres

Perforation and testing of the deepest level has produced very strong results
with the well flowing at a continuous flow test rate of 120 barrels of oil per
day - by far the largest flow test rate on the field to date. During the test a
tested open flow rate of 230 barrels a day was achieved.

Well 103 will continue in production and during May we will determine the
optimal operating flow rate. An update on the overall results of the workover
program and the new wells drilled in 2006 will also be provided in May.

Commenting on the results from well 103, Executive Chairman Michael Masterman
said "Tested flows from this well are nearly 4 times the levels achieved in our
previously best performing wells. The results give us a strong direction to
drive the next phase of drilling forward as well as the potential to
significantly step up production rates"

"This is our first well on the previously undrilled dry Zhengeldy salt lake
which covers approximately half our current licence area. It's a great
exploration and production result"

MPH 25.25 -25.75p +1p

going stronger a into a higher BREAKOUT

        JOKE OF THE DAY

A man was walking down the street
when he noticed his grandfather
sitting on the porch, in a rocking chair,
with nothing on from the waist down.

"Grandpa what are you doing?"

The old man looked off in the distance
without answering.

"Grandpa, what are you doing sitting out here
with nothing on below the waist?"
he asked again.

The old man slowly looked at him and said,

"Well, last week I sat out here with no shirt on,
and I got a stiff neck...

This is your Grandma's idea."

       

End-of-day Market Summary