Caza tastes exploration success in Texas and New Mexico
Monday, March 31, 2008
AIM and TSX listed Caza Oil & Gas, Inc. has announced that exploration drilling at the Jonell Cerny #1 well, located in Texas, and the exotically named Mud Slide Slim 15 well, located in New Mexico, both successfully encountered gas.
Caza added that it expects to bring both wells into production during April and May following completion and tie-in to gathering systems.
Mike Ford, Chief Executive Officer of Caza Oil & Gas, said:
'We are delighted to be able to report positive news about these exploration wells and look forward to updating shareholders on initial flow rates when operations are completed. Successful production from these wells will create additional low-risk drilling opportunities which we believe will provide future growth in production, cash flow and shareholder value.'
Caza listed on AIM in December 2007 and has proved and probable reserves of 17.76 billion cubic feet equivalent.
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