Big Sky Energy to Resume Caspian Drilling in February

Big Sky Energy anticipates resuming its drilling activities at its Well #10 in the Morskoe Field by February 1, 2005.

The Morskoe Field, which is located on the northeast shore of the Caspian Sea in Kazakhstan, has experienced unusually severe weather conditions which caused the sea to flood the field where Well #10 is located and caused a suspension of drilling operations. Repairs to the well-site and lease access road have now been completed. Well-site equipment is currently being inspected and readied in anticipation of a drilling start by February 1.

Well #10 had been drilled and cased to a depth of 350m when operations were suspended. The anticipated total depth of 1,300m is expected to be reached within two weeks of commencement of drilling. Well #10 offsets the capped Well #6 which was drilled in 1965 and tested 1,300 BOPD of 25 API crude on a 9mm choke. Based on the test results from Well #10, two additional infill locations will follow directly.