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

Here's Friday's RNS in full:

Caspian Holdings plc - Drilling Report
RNS Number:4636C
Caspian Holdings plc
04 May 2006

4 May 2006

Caspian Holdings Plc

('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'

Other wells already in production are producing between them 120 bbl/day - not counting two that had been taken offline for production enhancement measures at the time of reporting (Feb 16th 2006).

So one could estimate a minimum of 250 bbl/day going forward.

The Exec Chairman's comments about Zhengeldy hint that more similar wells could be on the way in the future as 103 was the first to be drilled on the dry salt lake which covers more than half of the licence area.

And may be increased: >> On other matters, the Company continues to wait for Kazak Government approval on its Zhengeldy licence extension. << (From RNS "New Well Drilling Campaign Commences" 10th Feb 2006).

Any thoughts, anybody?

Due to release their new bpd production figures next week, should be double that last stated, the market will react accordingly

The Master, what would you say - 250 bbl/day, or even more?

According to press release of 4 November 2005, Caspian is targeting production of 450 - 510 bbl/day from 11 wells (lncluding the current 5-well drilling project).

It's interesting to see that they are going for multiple-level/multi-perforation to make the best of the fact that the oil is concealed within very thin, overlapping strata.

According to the article we can expect to see two more wells drilled on the dry salt lake site, which was so prolific in the case of well 103.