China Energy Ventures Begins Drilling at Morskoe Field

China Energy Ventures' subsidiary, KoZhaN LLP, has commenced drilling operations on Well #10 in its Morskoe field, located on the northeast shore of the Caspian Sea, Kazakhstan.

Drilling has progressed to a depth of 350 meters with anticipated total depth of 1,300 meters, expected to be reached by late November. Well #10 offsets the capped Well #6, which was drilled in 1965 and tested 1,300 BOPD of 25 degrees API crude on a 9mm choke. Based on the test results for Well #10, two additional infill locations can follow directly.