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Caspian Energy Inc

  • BY: Andrew Hore |
  • POSTED: 03/02/2009 |

Caspian Energy Inc is dropping its Aim quotation.

The oil and gas explorer needs to cut costs and it will retain its TSX listing. Caspian says that there is little trading in the shares on Aim.

This sparked a 0.5p fall in the share price to 4.75p each, which values Caspian at £5.78m.

Caspian reported a profit of $985,000 on revenues of $9.23m in the nine months to September 2008.

Net debt was $1.7m at the end of September 2008 and that does not include the $19.6m of convertible debentures.

The net asset value was $109m at the end of September 2008, although $127m of that was capitalised exploration costs. 

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