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Caspian Holdings

  • BY: Andrew Hore |
  • POSTED: 27/06/2008 |

Caspian Holdings can restart production at the Zhengeldy project in Kazakhstan.

In February, production at the Zhengeldy oil field was suspended. Caspian was waiting for regulatory approval of its work programme – including an export quota. That approval has been received.

Zhengeldy had been producing 120 barrels of oil per day and management expects to be able to build up production to those levels.

The shares rose 0.125p to 3.25p, valuing Caspian Holdings at £2.97m.

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