Caspian Energy Names New President

Caspian Energy Inc. said that Charles J. Summers, the current Chief Operating Officer, has also been appointed as President of the Company. William A.G. Ramsay, the resigning President of the Company, will continue to serve as the Chief Executive Officer and Chairman of the Company.

Caspian is an oil and gas exploration and development company, operating in Kazakhstan where it has a number of targets in the highly prospective Aktobe Oblast of Western Kazakhstan. The Company holds an exclusive license that entitles it to explore and develop certain oil and gas properties known as the "North Block", an area of 3,458 square km. This is through a 50% stake in Aral Petroleum Capital LLP (a joint venture set up in 2004 between Caspian and Azden Management).