Caspian Energy Announces Mailing of Management Information Circular Relating to Its Previously Announced Agreement to Acquire the Remainder of Aral Petroleum - Seite 3

Meridian and Firebird having converted the balance outstanding on the loan facility of up to $3 million created on July 7, 2014 and as amended on November 4, 2014 into common shares of Caspian.

The Transactions must be approved by an affirmative vote of at least a simple majority of the votes cast by all Shareholders entitled to vote at the Meeting, present in person or represented by proxy at the Meeting, after excluding votes cast in respect of common shares held by any party whose votes may not be included in determining minority approval pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions and the requirements of the TSXV. The Company's board of directors (the "Board") has unanimously (with conflicted directors abstaining) approved the Share Purchase Agreement and the Transactions and the Board recommends that Shareholders vote in favour of the SPA Resolution (as described in the Circular).

Pursuant to the shareholders' agreement to be entered as a condition of Closing, Sixth Energy and Meridian will each be entitled to nominate two nominees to the Board and will be entitled to agree on three nominees in consultation with management, at least two of whom are to be independent. The shareholders' agreement will also provide that the approval of each of Sixth Energy and Meridian will be required for certain fundamental matters affecting the governance of the Company and its subsidiaries.

Copies of the Circular and the Share Purchase Agreement are available on Caspian's SEDAR profile at www.SEDAR.com.

Michael Nobbs, the Chairman of the Board, stated "the completion of the Transactions will represent a significant milestone on the Company's journey back to having a stronger balance sheet and renewed activity on the North Block. In a short time, we have successfully eliminated the Company's past due debts at the corporate level by the conversion of approximately US$14 million in debentures to equity and we have arranged for the provision of short-term funding to satisfy historical liabilities and keep the Company moving forward. If completed, the Transactions will consolidate the fragmented ownership and operation of Aral, our Kazakh subsidiary, into one publically listed company, Caspian. By completing the Transactions, the Company will gain a substantial and experienced cornerstone investor in Asia Sixth, and Aral will gain access to a new US$61.5 million three year term loan from Meridian and Sixth Energy which we believe will, subject to the satisfaction of certain conditions, enable Aral and Caspian to fund certain operating and capital expenditures as well as repay historical obligations. Operations have commenced to open up existing wells to production and anticipated future cash flow, and in September, oil production was reinstated at the East Zhagabulak field. Upon completion of the Transactions and final approval from the TSXV, the Company's common shares will trade on the TSXV which we believe will also give Shareholders increased liquidity. We welcome our new investor, Asia Sixth which joins our existing cornerstone investors, Meridian and Firebird, and look forward to being able to make further announcements of activity as these are determined by the Board."