Caspian Energy Inc. Announces Court Date for Hearing on Dissident Shareholders’ Application in Relation to December 1, 2009 Shareholders’ Vote

CALGARY, ALBERTA–(Marketwire – Dec. 7, 2009) – Caspian Energy Inc. (TSX:CEK) (”Caspian” or the “Company”) announced today that Mr. Maurizio Barnaba, a director of the Company, and certain other shareholders (collectively, the “Dissident Shareholders”) have commenced an application in the Ontario Superior Court seeking, among other things, an order declaring that the vote taken at the special meeting of the Company’s shareholders on Tuesday December 1, 2009 approving the previously disclosed amendments to the terms of the Company’s US$16,000,000 aggregate principal amount Secured Convertible Debentures due March 2, 2011 is invalid and of no force or effect. The application is scheduled to be heard on December 16, 2009.