Ann: DECEMBER 2010 QUARTERLY SECURITIES EXCHANGE , page-3

re: Ann: DECEMBER 2010 QUARTERLY SECURITIES E... Had a read over CIG's quarterly again and would recommend others do to

Farm-out Activity
Two groups are undertaking a detailed study of the Caspian Kyrgyz acreage. These companies (one from
Iran and one from China) are expected to make a decision within the next month.

Was once 15c when STO farmed in and were doing the drilling if they get a decent Chinese group could go a long way from 1c

Other Petroleum Activities
Caspian continues to assess new opportunities in Central Asia and Romania.
Kazakhstan
The Company is currently undertaking a due-diligence process on an opportunity in Kazakhstan. More
information on this will be announced in the event of a decision to move forward.

Mineral Projects
Caspian retains mineral assets where exploration is funded by other companies. These are:
?h shares in listed mineral explorers valued at approximately $4.3 million;
?h 0.5% royalties on Perseus Mining Limited??s Tengrela Gold Project in Ivory Coast and Grumesa Gold
Project in Ghana;
?h the Mansounia gold joint venture with Burey Gold Limited in Guinea; and
?h two diamond joint ventures, one in the Democratic Republic of Congo (??DRC??) and the other in
Ghana.


Those royalties over PRU's projects as well as their 15% free carried interest in BYR's Mansounia seem to get no value at all perhaps a spin off of all these other assets into a new company is the way to go

Im in for the possible farmout and new projects