Frequently Asked Questions
What is Caspian Oil & Gas’ strategy for increasing shareholder value?
Caspian’s strategy for increasing shareholder value is to explore, discover and produce oil and gas from our eight licences in the Fergana Basin, Kyrgyz Republic.
Approximately $16million has been spent acquiring 400km of 2D seismic across six of our licenses. This has revealed very attractive targets. We will continue to promote the oil and gas potential to new joint venture partners.
Why is Caspian exploring for oil and gas in the Kyrgyz Republic?
Our licences are in the historic and oil rich Fergana Basin in the Kyrgyz Republic placing us in the midst of one of the world's major oil provinces which stretches from the Caspian Sea to the Tarim Basin in China.
The Kyrgyz Republic also has an excellent fiscal regime with low tax rates - 10% income tax and royalties on oil production of around 5.5% - with no government profit sharing agreements.
Is the Kyrgyz Republic a safe place for oil and gas explorers?
The Kyrgyz Republic is a welcoming country for both petroleum and mineral companies, evident by the increasing amount of Western companies now exploring in the region. There are now many Western companies exploring within the region. The recent events in the Kyrgyz Republic have not impacted on the Company’s activities. We recently completed a 2D seismic acquisition programme and our production continues unhindered.
Will Caspian explore for oil and gas outside of the Kyrgyz Republic?
Caspian was successful in the 10th bidding round for oil and gas exploration licences in Romania. A bidding group comprising Audax Energy Limited (ADX), Caspian and Sibinga Petroleum, has been awarded the exploration block EX-10 PARTA in the southern Pannonian Basin, western Romania. Caspian will hold a 20% interest in the block with Audax managing the operations.
In Kazakhstan we have been evaluating various opportunities which will allow our regional expertise and operating capacity in Central Asia to be fully utilised. We plan bid on several opportunities following technical and commercial evaluation.
What is Caspian’s financial position?
At a share price of 1 cent our market cap is approximately $13.3 million. We have $3million in cash and approximately $3.5million in Perseus Mining Limited shares.
Who are Caspian’s major shareholders?
1. ANZ Nominees - 16%
2. Santos Limited – 10.5%
3. HSBC Custody Nominees – 6%
When did Caspian start trading on the ASX?
We have been trading on the ASX as Caspian Oil & Gas since November 2004.
Where does the Company hope to be by the start of 2011?
Our aim is to have drilled the best prospect within the West Mailisu Project, have farmed out our Kyrgyz blocks and developed an exploration programme for ongoing Kyrgyz exploration.
We also plan to expand our portfolio to have assets in Romania and Kazakhstan.