activity update

DRILLING ACTIVITY REPORT
Activity continues on Caspian’s first well in its eleven well drilling programme in the northern Fergana Basin, Kyrgyz Republic. The well, on the southern edge of Caspian’s Ashvaz block, is designed to appraise the extent of the Mailisu III oilfield. The initial targets are Palaeogene limestone Beds V and VII. Details of the well and activity during the week are set out below.
Well Name
Caspian Interest
Type
Location (Tenement)
Latitude / Longitude
Drill Depth
Spud Date
Current Activity
COG Mailisu III # 1
100%
Oil exploration
Ashvaz Block
41.260774°N 72.457251°E
621m
26/09/2007
RIH to commence coring
Weekly Activity Following the setting of the cement plug drilling recommenced on Oct 13, and a depth of 600m was reached at which time, a core was taken. It is planned to take a number of cores over the potential reservoir section. Current operations are running in the hole to commence cutting core #2.