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SIROUSLY777on Jul 21, 2014 6:16am
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Caza Oil & Gas Announces Excellent Well Result
Caza Oil & Gas Announces Excellent Well Result July 21, 2014 02:00 ET
Caza Oil & Gas Announces Excellent Well Result and Provides Operational Update
HOUSTON, TEXAS--(Marketwired - July 21, 2014) - Caza Oil & Gas, Inc. ("Caza" or the "Company") (TSX:CAZ)(AIM:CAZA) is pleased to announce another excellent result for the second 3rd Bone Spring well drilled on its West Copperline Property, and to provide an update on drilling activities at Gramma Ridge and Broadcaster (West Copperline) properties, all of which are located in Lea County, New Mexico.
West Copperline Property: The West Copperline 29 Fed #4H horizontal Bone Spring development well (the "4H well") reached the intended total measured depth of approximately 16,015 feet in the 3rd Bone Spring Sand interval and was subsequently fracture stimulated beginning on July 1, 2014. Under controlled flowback the producing rates have remained steady, and the well produced at a peak 24 hour gross rate of 1,598 barrels (bbls) of oil equivalent, which consists of 1,220 bbls of oil and 2.27 million cubic feet of natural gas on July 16, 2014. The well continues to clean up and is producing on a 24/64ths adjustable choke at 2,650 pounds per square inch flowing tubing pressure. Facilities are already in place for the sale of oil and natural gas on the property.
Caza is now producing four wells on this property on two contiguous 160 acre tracts comprising the west half of Section 29.