Issued today - suggest you look at depths12 October 2007 The...

Issued today - suggest you look at depths

12 October 2007 The Manager Company Announcements Office ASX Ltd 4th Floor, 20 Bridge Street SYDNEY, NSW 2000 Dear Sir
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
143m
26/09/2007
Waiting on Cement
Weekly Activity After setting surface casing in the COG Mailisu III # 1, drilling recommenced and reached a depth of 143m before the problems of lost circulation re-occurred. Another cement plug has been run to remediate the problem and it is anticipated that drilling will recommence Saturday 13th October.

This was previous announcement

5 October 2007
The Manager
Company Announcements Office
ASX Ltd
4th Floor, 20 Bridge Street
SYDNEY, NSW 2000
Dear Sir
DRILLING ACTIVITY REPORT
Surface casing has been set 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. Preparation of pads for the next two wells on the 70%
owned Mailisu III block will be completed next week.
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 Result
COG
Mailisu
III # 1
100% Oil
exploration
Ashvaz
Block
41.260774°N
72.457251°E
69.8m 26/09/2007 Drilling
Weekly Activity
Mailisu III # 1 had initial difficulties with lost circulation in the surface hole requiring several plugs
of cement to be run to overcome this problem. A 7 inch surface casing has been set to a depth of
69.8m and cemented. The forward plan is to nipple-up the BOPs and pressure test before drilling
ahead to a total depth of around 740m.