I think it`s about time CSH had a thread, an AIM oil co. that is producing oil and quality stuff at that. These are vastly under-valued, market cap. 30 mill., they are going up on news NOT hype. check them out.
Dexter

Positive news out this morning. So why has sp fallen ?????






8 June 2005

CASPIAN HOLDINGS PLC
('Caspian' or 'the Company')

Drilling, Production and Export Update

Caspian Holdings announces that it has progressed drilling and oil activities,
completing and bringing into production Well 107 and increasing overall
production rates in the Zhengeldy field.

Drilling has also been completed on well 116 and commenced on new Well 106.

Well 107, which had a net oil pay of 17m in the Neocomian structure, has been
perforated to 5m (2 intervals) and currently, one of the intervals been brought
into production. .

The current production capacity of the Zhengeldy field is now based on a total
of five wells: four across Jurassic levels (Wells 113, 114, 112 and 111); and
Well 107, at Neocomian levels.

Production rates have been steady at 130-150 barrels per day and are anticipated
to increase in June with the addition of production from Well 107. Subject to
the results of testing we also expect additional production from Wells 106, 116
and the perforation of Well 114 in the Neocomian. In addition production
increases are expected from a new approach to cementation and logging which the
Company has developed in conjunction with Schlumberger Caspian Region.
Evaluation of cement bond logs suggests there is significant scope to improve
well cementation and, as a result, to identify additional productive levels.

During May, Caspian continued to evaluate opportunities for bringing on Triassic
level production. Well 106, a twin of old well number 5, is now being drilled
(to a target depth of 750m (currently at a depth of 600m)) and should be
complete in late Q2, 2005. Joint review of Well 115 with the Mining Economic
Consulting Company has recommended a re-investigation of three more levels in
the Triassic which the Company is planning for Q3, 2005.

Planning is advanced for drilling on the salt lake in the west of the Zhengeldy
licence area in summer and well locations will be selected following a review of
geological models of the Zhengeldy field. Work is continuing in evaluating
targets in the Zhengeldy extension area as the Company awaits a decision on its
extension application - a decision is expected in Q3, 2005.

Caspian has progressed construction of a 200 tonne storage and export facility.
The proposed facility will now be located outside Makat on the new pipeline
entry point, following a decision by Emba Oil, the state oil company to relocate
processing operations to this site (away from the city). The initial plan is to
transfer 200 tonne batches to the main Emba storage tanks with subsequent export
in 1000 tonne lots. A heating process step will be added to storage facilities
on the Zhengeldy site to reduce salt content in crude for both domestic and
export sales. Both the processing step and the export storage facility should be
complete in July 2005.

The Company's Annual General Meeting will be held in London on 26 July 2005 and
a notice of meeting will shortly be sent to shareholders.

Michael Masterman, Executive Chairman of Caspian Holdings commented:

'Following our preliminary results on 26th April, we felt it was important to
update shareholders of Caspian's development with a current overview. We are
confident in our ability to increase production rates and we are excited about
the discovery of oil production in the Neocomian structure in the Zhengeldy
permit area.'

- Ends -

For further information, please contact:

Caspian Holdings Plc Hoodless Brennan Parkgreen Communications
Michael Masterman Luke Cairns Justine Howarth / Ana Ribeiro
T: +447791288381 T: +44 (0) 20 7538 1166 T: +44 (0)20 7493 3713

LONDON (AFX) - Caspian Holdings PLC said it is increasing overall output rates in the Zhengeldy field.

In a statement, the company said production rates have been steady at 130-150 barrels per day and are expected to increase in June, with the addition of Well 107.

Subject to testing results, the company expects further production from Wells 106, 116 and the perforation of Well 114 in the Neocomian.

The current production capacity of the Zhengeldy field is now based on a total of five wells.

'In addition production increases are expected from a new approach to cementation and logging which the company has developed in conjunction with Schlumberger Caspian Region.'

The company said it has progressed drilling and oil activities, completing and bringing into production Well 107.

Drilling has also been completed on well 116 and commenced on new Well 106.

Chairman Michael Masterman said: 'We are confident in our ability to increase production rates and we are excited about the discovery of oil production in the Neocomian structure in the Zhengeldy permit area.'

newsdesk@afxnews.com

well no news now and sp will fall a little again 25p imho to buy

Seems to be one of the few oil stocks not performing. Hope it starts to do so soon.

if the sp keeps at these levels and gets to 25p to buy i am in for more.

The price is moving now. Perhaps good news on the way.

Last drilling update said oil production from 5 wells [08/06/2005],hope much improvedflow of oil now.

SP[offer] up to 29,spread is 5, agood sign.

Is this hot news or what, up 60 per cent, a 120 metre oil colunn,sounds like chingetti,was it 2 or 3 oil columns discovered,great news ,any one there,or are you all shell-shocked.

Not shell-shocked, MB. Just pleased to see this head back to a fraction of what most of us paid! It will need support to stay (or improve) at this level. Do you have a sustainable short term sp target? We've heard good news in the past only for it to track back shortly afterwards!

Short term target of 60p if there is an RNS about the extension area before AGM.

Otherwise 45p.

........................and medium term & long term forecasts, Ariesr?

I recall back in Jan that EOY forecast by some folk was reckoned at about 1.40

But that was before the drop to early 20s and all sorts of rumours started.

I'd go for EOY at 1 at the most, you just never know what will happen in the oil secotr and what CSH may encounter as it keeps on exploring.

We havent even got the extension yet!

Anyone drilling and flowing oil can come up with abig hit , not like hyped up chancers who drill and find waterin a one off money collection type scam, csh are really trying,good luck to all.

Anyone drilling and flowing oil can come up with abig hit , not like hyped up chancers who drill and find waterin a one off money collection type scam, csh are really trying,good luck to all.

Anyone drilling and flowing oil can come up with abig hit , not like hyped up chancers who drill and find waterin a one off money collection type scam, csh are really trying,good luck to all.

See csh article on www.oilbarrel.com dated 11/07/2005.

See csh article on www.oilbarrel.com dated 11/07/2005.

Surely 50 odd barrels a day does not warrant 2 & 1/2 p on the sp today? (106 goes into production)

Bloody rubbish.

Whats is going on with this Company?

wilbs???????

http://www.moneyam.com/action/news/showArticle?id=913786