Caspian Holdings Plc
4�Nov�2004
Placing and Admission to AIM
Kerman & Co LLP advised Caspian Holdings Plc on its placing of ordinary shares to raise �4 million (before expenses), and on its admission to AIM.� The placing values it at �18.9 million.
Caspian�s strategy has been to focus on shallow oil fields that combine the benefits of lower exploration and development costs, shorter lead times to production and higher returns on funds invested, as compared to deeper targets.� This strategy resulted in the acquisition of the Zhengeldy oil field in Kazakhstan, which will be developed and brought into production.
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