Caddo currently has stakes in five exploration blocks in Western Siberia, Russia. Initial drilling is planned for late 2010 on a block where seismic data has already been interpreted and a structure identified which could contain recoverable reserves of up to 20 mm bbls of oil.  Other blocks are being reviewed for possible sale and/or farm-out opportunities.

The Company is working actively in Turkmenistan, where the government has plans to significantly increase the country’s oil production in the coming years. Caddo intends to bring investment capital to the country and has plans to play an important role in boosting Turkmenistan’s oil production through the transfer of modern oil-field technology, proven project management and knowledge transfer/training of local specialists, all important priorities of Turkmenistan’s reform-minded government. 

Caddo’s key personnel have extensive experience in the region and bring a unique combination of Western and local expertise, a factor critical for success.  Although Caddo is currently focused on projects in Russia and Turkmenistan, management will continue to review other opportunities in the region for potential investment opportunities.

In the United States, Caddo has interests in several gas wells recently drilled in Coyrell County, Texas.  The operator of these wells is currently considering options for how to economically produce the gas given the current low-price environment for US natural gas.  Together with a large, Houston-based private equity investment fund, Caddo also owns equity stakes in a producer of specialty drill collars, as well as a privately owned service company, both of which are headquartered in Houston.

The company is privately held and does not disclose financial or shareholder information.