Caspian Energy Inc. Provides Update

Caspian Energy Inc. ("Caspian") (TSX:CEK) is pleased to announce that Aral
Petroleum Capital LLP ("APC"), Caspian's 40% owned subsidiary, has received an
advance in the amount of USD $3,000,000 pursuant the loan agreement between APC
and Groenzee B.V. signed in June, 2013. The proceeds of this advance are to be
used to test well 316 in West Zhagabulak in accordance with the advice of
outside consultant Mr. Roger Nutt. The tender process for this work has been
concluded and a suitable bid was received from a prominent contractor.


Mobilization of the rig required for this testing is imminent pending clearance
of certain items through customs. The target date to commence the contemplated
testing is set for mid-August.


In June 2013, Caspian announced that its wholly owned subsidiary, Caspian Energy
Ltd. ("CEL"), had amended its loan agreement to permit the drawing of US$100,000
each month until November, 2013 and to draw an additional US$1,400,000 as early
as December 28, 2013. In accordance with this agreement, CEL has, to date,
received $200,000 toward its corporate overhead expenses.


As previously announced, the holders of Caspian's Amended and Restated
Convertible Debentures dated July 8, 2011 (the "Convertible Debentures") have
agreed to extend the period for Caspian to remedy its failure to pay the
principal amount of the Convertible Debentures at maturity, until August 26,
2013. Caspian also continues to work with the Alberta Securities Commission (the
"ASC") in connection with the cease trade order which has been imposed by the
ASC, and has obtained an extension from the Toronto Stock Exchange for the date
for the delisting of Caspian's common shares from August 1, 2013 to August 22,
2013. This extension was requested by Caspian in order to allow further time for
Caspian to pursue a listing on NEX.


This news release contains "forward-looking information" within the meaning of
applicable Canadian securities legislation which we refer to herein,
collectively, as "forward-looking information". Generally, forward-looking
information can be identified by the use of forward-looking terminology such as
"plans", "expects", or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or
"believes" or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might", or "will be taken",
"occur", or "be achieved". Caspian's actual performance, developments and/or
results may differ materially from any or all of the forward-looking statements.
Further information which may cause results to differ materially from those
projected in the forward-looking statements is contained in Caspian's filings
with Canadian securities regulatory authorities. All material assumptions used
in making forward-looking information are based on management's knowledge of
current business conditions and expectations of future business conditions and
trends Although we believe the assumptions used to make such statements are
reasonable at this time and have attempted to identify in our continuous
disclosure documents important factors that could cause actual results to differ
materially from those contained in forward-looking information, there may be
other factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such information will prove to be
accurate, as actual results and future events could differ materially from those
anticipated in such information. Accordingly, readers should not place undue
reliance on forward-looking information. We do not undertake to update any
forward-looking information, except in accordance with applicable securities
laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Caspian Energy Inc.
William Ramsay
President and Chief Executive Officer
44 (0)773663 1378


Caspian Energy Inc.
Brian Korney
Chief Financial Officer
[phone]