Caspian Services Inc.

The Republic of Kazakhstan has quickly become a focus of attention and investment for international oil and gas companies looking to exploit its relatively new and unexplored territory. Early known discoveries such as the super giant Tengiz oil field and the Karachaganak oil and gas condensate field onshore in western Kazakhstan caught the attention of the world’s largest oil companies when Kazakhstan first declared independence from the Soviet Union. The discovery on the massive offshore oil field known as Kashagan has kept that attention firmly focused on the country.

Caspian Services Inc.(CSI, the Company) is a recognized leader in the Republic of Kazakhstan for providing quality, cost effective solutions to a number of the challenges inherent in Kazakhstan’s oil industry. CSI offers a growing slate of services to oil and gas exploration companies operating on land and is a recognized industry leader in Kazakhstan’s offshore marine services industry. Currently, the Company’s major emphasis is on the developing offshore oil industry and its related infrastructure requirements as well as the provision of marine and land based seismic services.

Since its inception in 1999, CSI has grown from a single marine vessel service provider into a diversified service company with a headcount of over 500 employees engaged in three distinct service lines:

• Offshore Marine Services
• Seismic Acquisition Services
• Infrastructure Development

The Company provides offshore marine services through Caspian Services Group Limited; seismic acquisition services are provided by Caspian Geophysics Limited and its two subsidiary companies, Tat Arka LLP and Kazmorgeophysica with infrastructure development assets being owned and operated by Caspian Real Estate Limited.

Caspian Services Inc. has organized its businesses in such a way as to effectively deliver the support services required by oil and gas exploration and development companies. The energy companies operating in Kazakhstan’s oil industry have highly technical needs and that are immediate by nature. Caspian Services Inc. is well positioned to meet those demands by delivering a track record of performance ‘on demand’.

The company’s subsidiaries and interests have their own unique markets and specialties in the region. Together they make Caspian Services Inc. the leading multi faceted service company in Kazakhstan’s quickly evolving oil industry.

Caspian Services Inc. is a progressive company with a fast expanding range of services and a proven track record of performance. Our customers can depend on our company to provide a wide range of quality services at a competitive price. We accomplish this difficult balance through the use of highly experienced Kazakhstan based personnel operating in a corporate environment with a strong focus on excellence and international QHSE standards. Our company is a flexible, responsive service company committed to the safety, training and overall professionalism of our employees.

Caspian Services Inc. has developed its diversified business strategies in line with Kazakhstan’s oil and gas industry and its demands. Our track record of success with some of the industry’s largest investors and operators has given us a unique competitive edge and we are fast becoming the partner of choice in the country.

We are committed to the Republic of Kazakhstan and its promise of a bright future in the global energy industry. Because of that commitment and our understanding of the Kazakh market for oil field services, our company is well positioned to continue to capitalize on Kazakhstan’s ever expanding oil exploration and production. By continuing to expand the range of services provided by our company, through investments and acquisition, we expect to continue to exceed our customer’s expectations while at the same time continuing to deliver solid growth and value to our shareholders.