PetroCaspian

12/10/2006

On October 12th we received a reply from Christopher Crutcher, chairman of PetroCaspian. For our readers interest we have published the email below:

Quote:
I am Christopher Crutcher, Chairman of PetroCaspian Ltd; a Canadian company which conducted a Private Placement to Sophisticated Investors under the jurisdiction of Alberta, Canada (now closed).

Please provide me with information on who has been offered shares in our company, and under what circumstances. Anyone who approaches us with an interest in our shares must first sign an NDNCA, as our companys information is confidential and we are not engaged in offering shares to the public.

Any IPO or RTO we might execute is not guaranteed, and we are not representing to anyone that we have yet applied for listing of our shares, although we have an offer from investment bankers to take us public if we meet certain criteria. We work internationally in the Oil & Gas Service Business, and I regret missing your apparent e-mail in August, as we have transferred servers and may have lost certain e-mails and or information while we were traveling in the Middle East this summer.
One of our employees just informed me that you had an enquiry regarding our shares on your website. Our offering of shares to sophisticated investors under Alberta Securities Law does not in any sense constitute an "unusual" share offering, and I need to be informed right away if someone has received an offer that we are not aware of, as this would be of great concern to us.
Unquote.

20/08/2006

We understand that shares in this company are being offered for sale under a pre-IPO. The company has a website (http://rs452.securehostserver.com/~petrocas/index.html) describing what they do.

We emailed the chairman (Christopher Crutcher) for any information mid-August but have not had a reply yet.

If anyone has any details on the offer of shares we will be pleased to publish it here.