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1 year chart

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1 day chart

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Epic & Msn data
Epic CSH
Time: 07:34:05
Mid Price: 0.75
Change Today: 0.00
Change % Today: 0.00
Fifty Two Week High: 5.38
Fifty Two Week Low: 0.63
Market Capital: 0.81
Period & price data
Period Price
Now: 0.75
3 Months ago: 1.50
6 Months ago:
1 Year ago:
Additional information
Additional Information
Market: AIM
Sector: Energy
Epic: CSH
News: Latest news
Web Site: Caspian Holdings
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Caspian Holdings

Caspian Holdings was incorporated with the purpose of acquiring and developing an advanced stage oil and gas field in Kazakhstan and to consider other oil and gas opportunities in the FSU in particular other republics in the Caspian region.Recently the company has added oil and gas interests in the United States to its portfolio.
Tuesday, September 02, 2008

Caspian Holdings reports “mixed progress” at Zhengeldy Oil Field restart

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Shareholder’s in Caspian Holding (AIM: CSH) must be feeling bewildered these days.


After reporting several encouraging steps in completing the regulatory hurdles to move the Zhengeldy Oil Field in Kazakhstan back into production, yesterday Caspian Holdings said it had received a letter from the Ministry of Energy and Mineral Resources which effectively terminated its Sub Soil Use Contract.


Michael Masterman, who spoke to Proactiveinvestors today, confirmed that the company was confident of reinstating its full contractual oil production licence terms and restarting production. Under Kazakh law, Caspian has 60 days to appeal the decision.  The company is also considering legal proceeding in the courts to set aside the decision by the MEMR.


“This latest letter is in conflict with the earlier letter of the Committee of Geology of MEMR (dated 13 days earlier) and in contrast to the steady progress the Company has been making toward regulatory approval to restart oil production at Zhengeldy. In addition, under the SSUC that the Company has with the State of Kazakhstan, the Ministry does not have the right to unilaterally terminate the contract without a Kazakh Court decision and must provide a reasonable period for the company to rectify any default”, the company said.


Commenting on the situation, Chairman Michael Masterman stated:


 “With the conflicting Kazakh regulatory environment, Caspian Holdings decision to significantly diversify its asset base towards the United States is proving to be a wise and timely decision.”

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