|
CALGARY, ALBERTA--(Marketwired - June 13, 2013) - Caspian Energy Inc. ("Caspian") (TSX:CEK) is pleased to announce the signing of a number of agreements (the "Transaction Agreements") whereby its Kazakhstan subsidiary expects to be able to immediately implement the previously announced testing of certain wells based on the advice of outside consultant Mr. Roger Nutt (the "Nutt Plan") over two wells within the next 90 days. Pursuant to the Transaction Agreements, additional financing has been committed to Aral Petroleum Capital LLP ("APC"), a Kazakhstan partnership in which Caspian indirectly holds a 40% interest, to cover operating expenses, as well to Caspian to cover ongoing overhead and accounts payable. The financing will permit drilling which will allow APC to meet its 2013/14 License drilling commitments in the North Block. |
