Stocktube video
24/04/2012

Caza Oil & Gas CEO says he wants to “aggressively” grow reserves

View full size
Proactiveinvestors recommends
Additional Information
Market: TSX
Sector: Oil & Gas Exploration & Production
EPIC: CAZ
Latest Price: 0.12  (-9.62% Descending)
52-week High: 0.47
52-week Low: 0.12
Market Cap: 19.77M
1 year chart
digital-look imported chart image
1 day chart
digital-look imported chart image
Caza Oil & Gas
www.cazapetro.com

Based in The Woodlands, Texas, Caza Oil & Gas, Inc. is engaged in the acquisition, exploration, development and production of hydrocarbons in the Texas Gulf Coast, South Louisiana, Southeast New Mexico and the Permian Basin of West Texas regions of the United States through its subsidiary, Caza Petroleum. Caza Oil & Gas, Inc. is listing on both AIM, a market operated by London Stock Exchange plc, and the Toronto Stock Exchange.

Full Caza Oil & Gas profile here
Pdf

Caza Oil & Gas looks at horizontal option in New Mexico

2nd Feb 2012, 10:06 am by Philip Whiterow
Caza will target 'oil and liquids-rich opportunities within our inventory'. Caza will target "oil and liquids-rich opportunities within our inventory".

US-focused oil group Caza Oil & Gas (LON:CAZA, TSE:CAZ) said today it may take its New Mexico acreage horizontal after good results from other similar drilling nearby.

Chief executive W Michael Ford said that it intends to “target these oil and liquids-rich opportunities within our inventory”.

Caza has a 40% working interest and a 32% net revenue interest in the Mud Slide Slim well in New Mexico, which has been producing gas since 2008.

This prospect includes the Bone Spring horizontal play where a host of other producers have been drilling wells in the past 18 months.

Caza said it recently conducted its own extensive stimulation and production tests on each of the Bone Spring zones in the Mud Slide Slim well.

The tests showed each zone of interest, the Avalon Shale and 1st and 3rd Bone Spring Sands, to be commercially productive and therefore viable horizontal targets.

Caza has now comingled these zones with the well producing at a peak daily rate of 159 barrels of oil per day and is currently producing 73 barrels of oil per day using a pumping unit.

W Michael Ford added: “The recent re-completion of the Mud Slide Slim well in the Bone Spring Formation has further improved our production profile at a relatively low cost to the company.”

“More importantly, we are very excited about the Bone Spring Formation and the potential for further horizontal drilling within our lease blocks.  We are currently evaluating the production potential of the Bone Spring horizontal play and how it might impact our current New Mexico acreage position. This may also impact our 2012 drill plan when evaluated against the rest of our prospect/property inventory.” 

Caza added that fourth quarter production overall increased to 277 barrels of oil equivalent per day, up 19% on the third quarter’s 233 barrels of oil equivalent per day.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.