Caza kicks off operations at Glass Ranch
Friday, June 20, 2008
Caza Oil & Gas has begun drilling operations at its Glass Ranch A #1 well in Upton County, Texas, US.
The well is operated by Momentum Energy Corp. and is set to be drilled over 30 days to 10,800 feet in order to test the Spraberry and Wolfcamp formations. Caza has a 50% working interest in this well.
Caza chief executive, Mike Ford, said: “We are excited to announce the commencement of operations on this well which is the first on an expected four well programme on our acreage in the Spraberry and Wolfcamp resource play in the Permian Basin.”
Caza recently announced plans to raise £11.5 million through a share placing. The new cash will be used to fund its exploration and drilling programmes in South Texas, West Texas and the Gulf Coast of the US and to acquire more exploration acreage.
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