CALGARY, ALBERTA and BEIJING, CHINA--(Marketwired - May 21, 2015) - The Sixth Energy Limited ("Sixth Energy") has filed an early warning report announcing that, on May 20, 2015, Sixth Energy acquired ownership or control over (a) 154,954,366 common shares (the "Acquired Shares") of Caspian Energy Inc. (NEX:CKZ.H) (the "Corporation"), representing approximately 33.4% of the post-closing issued and outstanding common shares (the "Common Shares") of the Corporation, at a deemed issuance price of approximately US$0.13 (approximately Cdn.$0.16 based on the Bank of Canada noon exchange rate on May 20, 2105) per Acquired Share, and (b) consideration warrants (the "Consideration Warrants") to acquire a further 7,540,743 Common Shares of the Corporation. The Consideration Warrants are only exercisable by Sixth Energy upon the exercise of stock options (the "Reference Stock Options") previously issued by the Corporation prior to the execution of the Share Purchase Agreement (as defined below). Each Consideration Warrant is exercisable on the same terms and conditions as the corresponding Reference Stock Option that such Consideration Warrant tracks.

The Acquired Shares and Consideration Warrants were acquired in connection with the acquisition by the Corporation from Asia Sixth Energy Resources Limited ("Asia Sixth"), of which Sixth Energy is the sole shareholder, of all of the remaining interests in Aral Petroleum Capital LLP, the operating entity of the East Zhagabulak Oil Field and North Block Licenses in Kazakhstan, not already owned by the Corporation (the "Transaction"). The Transaction was completed pursuant to a share purchase agreement dated August 1, 2014, as amended November 11, 2014, between the Corporation, its wholly owned subsidiary Caspian Energy Canada Limited, Asia Sixth, Groenzee B.V, a wholly owned subsidiary of Asia Sixth, and certain other parties (the "Share Purchase Agreement").

Further information may be found in the news release issued by the Corporation in connection with the Transaction on May 20, 2015 through the facilities of Marketwired and filed on the System for Electronic Document Analysis and Retrieval (SEDAR).

This news release is being issued under the early warning provisions of Canadian provincial securities legislation. Neither the NEX nor its Regulation Services Provider (as that term is defined in the policies of the NEX) accepts responsibility for the adequacy or accuracy of this release.

Contact Information:

Tracy Wut
Baker & McKenzie LLP
+852 2846 1619