Profile: Caspian Energy Inc (CEK.TO)

Caspian Energy Inc. is engaged in oil and gas exploration in the Republic of Kazakhstan (Kazakhstan). The Company mainly operates through its subsidiary, Caspian Energy Ltd. (Caspian). Caspian holds a 40% interest in Aral Petroleum Capital LLP (Aral), and the primary business of Caspian is to operate Aral as a joint venture between Caspian and Azden Management Limited (Azden). Aral is engaged in the exploration and development of certain oil and gas properties in Western Kazakhstan, known as the North Block, pursuant to an exploration contract between Aral and the Ministry of Energy and Mineral Resources of Kazakhstan. The Zhagabulak area contains 642 million barrels of oil in place with 193 million barrels classified as recoverable. The Company has completed an initial three-dimensional (3-D) seismic program covering 406 square kilometers on this area. North Block covers 1,549 square kilometers area located in the vicinity of the Kazakh pre-Caspian basin.