"Caza continued its positive operational and financial performance in the third quarter of 2012."

"The proceeds from the sale of the San Jacinto property opened several doors for the Company, especially on the exploration front. Management used a portion of the proceeds to drill the Caza Ridge and Forehand Ranch horizontal Bone Spring test wells at our Copperline and Forehand Ranch prospects respectively. We are very pleased to report that oil and natural gas from the Caza Ridge well are already going to sales, and we continue to be impressed with the well's production results. We also look forward to fracture stimulating the Forehand Ranch well and bringing it online in December. The Caza Ridge well alone has made up for and surpassed any decreases in production, revenue and cash flow caused in this quarter by the sale of the San Jacinto assets and will provide a substantial increase to our oil to natural gas ratio in the fourth quarter."

"The horizontal Bone Spring play has proven to be a successful venture for Caza thus far, as we also participated as a non-operator in the Bradley 29 and Quail 16 State horizontal Bone Spring wells. Knowledge gained from the successful results of these wells has de-risked some of Caza's acreage position in the play, while also providing the Company with valuable information for future drilling from the Company's inventory of Bone Spring prospects. In addition to Copperline, Forehand Ranch, Quail Ridge and Bradley 29, Caza has five other horizontal Bone Spring prospects under lease including: Lynch, Lennox, Mad River, Two Mesas and Azotea Mesa. This gives the Company approximately 3,300 net acres in the play with many potential drillsite locations."

"In addition, positive reports continue to come from elsewhere in the Bone Spring play. In order to build on the momentum created by the Company's recent successes, management is preparing the Lennox prospect in Lea County, New Mexico for drilling as early as mid-January 2013."


http://www.cazapetro.com/

Looks like the writing is on the wall

Looks like Madera 7 is commercial, plans submitted on 20th May for the installation of 3 * 500 bbl oil storage tanks.

http://ocdimage.emnrd.state.nm.us/Imaging/FileStore/hobbs/wf/252734/30025410590000_9_wf.pdf

http://www.proactiveinvestors.co.uk/companies/news/58312/caza-oil-gas-excited-about-commercial-lennox-well-58312.html

Gas (LON:CAZA) is excited about Lennox, the group’s latest success in the Bone Spring play in New Mexico.


This morning Caza revealed findings from a programme on the recently drilled Lennox 32 #2H well, which showed two of the three Bone Springs sands are commercial at that location.

“From what we’ve seen so far it is going to be a good well, we’re excited about Lennox,” chief executive Mike Ford told Proactive Investors.

“The first sand is wet, it is a non commercial zone at this location, but, the second and third sands appear to be very commercial.

“We’ve drilled the lateral well into the third sand, we have fracture stimulated it and we are flowing that back.”

Ford explains that the non-commercial First Sand must be ‘squeezed’ off before the well starts production. That work is ongoing, once complete a pump will be installed and the well will be brought online.


Caza has a 40% stake (before pay-out) in Lennox which will equate to 31.08% revenue interest, a 50.00% working interest after pay-out. It will participate in future Lennox wells with a 50% working interest.

The company also revealed today that drilled is now underway on its second well on the Copperline property in the Bone Spring play.

Drilling on the horizontal well started on 15 June. The well is a direct offset to the successful Caza Ridge 14 State #3H well.

The primary target is the third Bone Spring Sand interval with potential secondary targets in the Brushy Canyon, Avalon Shale, and first and second Bone Spring Sands.

Caza has a 58.75% working interest, which roughly equates to a 44.80% net revenue interest, in the Caza Ridge 14 State #4H well.

The company has also been busy elsewhere in New Mexico, and has provided updates on the Madera and Roja properties.

The initial well at the Madera property in Lea County is currently drilling the horizontal section of the well. Based on analysis of log data, OXY, the operator, will begin drilling the lateral section of the well through the primary objective third Bone Spring Sand interval to a total measured depth of round 16,839 feet.

Caza has a 20% working interest (15.60% net revenue interest) in the Madera 35 Fed #1H well and the Madera property.

Finally, the initial well on the Roja property, also in Lea County, has reached the intended total measured depth of around 13,568 feet. The well was recently fracture stimulated in multiple stages and is currently flowing back to clean up.

Caza has a 20.00% working interest (15.60% net revenue interest) in the Madera 17 Fed #1H well and the Roja property.

In this morning’s statement, Ford said: “The first Caza Ridge well at Copperline was a very good result, which we hope to duplicate with the recently commenced Caza Ridge development well.

The OXY operated Madera and Roja wells are progressing nicely, and we look forward to providing results on these wells and bringing them online in the near future, as well,” said Michael Ford, chief executive officer of Caza.

“Lennox, Madera and Roja provide the company with good development potential across expansive lease areas. This should mean repeatable success across multiple oil and liquids-rich zones in the broader Bone Spring play.

“The stacked pay potential for oil and liquids-rich gas is what makes this play so intriguing. It’s also the reason management has focused efforts on the play, and what should ultimately make the play successful for Caza and create value for our shareholders,” he added.

Was there a mistake in the last RNS? Was our oil discovery really a 'Plugged and abandoned'? Judging from the market reaction you could be forgiven for thinking so. The market really doesn't like small AIM oilers at present. You can't give them away.

Caza Oil & Gas shares soar on second Bone Springs success
By Giles Gwinnett August 12 2013, 9:29am

Caza Oil & Gas (LON:CAZA) shares surged in early deals after it reported another successful horizontal well on its Bone Spring play in New Mexico.

The second well - the Caza Ridge 14 State No.4H - has been flowing for the past few days after being fracture stimulated and rates have remained steady, the firm said.

The peak 24 hour rate was 1,004 barrels (bbls) of oil and 1.3 million cubic feet of natural gas, which equates to 1,221 bbls of oil equivalent.

Caza has a 58.75% working interest, which roughly equates to a 44.80% net revenue interest in the well.

It comes after last month, Caza described the first horizontal well targeting the Bone Spring interval as a “good result”.

That well - Unit 32 No.2H - on the Lennox prospect in New Mexico, flowed at a stabilised rate of 390 barrels of oil equivalent. The majority of this – 334 barrels – was oil.

That well was a direct offset to the successful Caza Ridge 14 State No.3H well, which had an an initial flow rate of 1,244 boepd (435 boepd net).

Broker Cenkos, which rates Caza shares a 'buy', said the previous results ,along with today's, highlighted "the transformational potential" of the Bone Spring play and further de-risks the play across nearby properties in New Mexico.

The firm revealed on Monday that log data and samples obtained across the shallower Brushy Canyon, Avalon and 2nd Bone Spring Sand intervals, had indicated oil and natural gas.

Cenkos analyst Ashley Kelty said: "With the log and core data showing future upside potential across the shallower horizons along with deeper prospectivity in the Wolfcamp, we see the Bone Spring play as offering the core driver for production and reserve growth across the portfolio.

"With an active near term drilling programme, we believe that success could lift production materially higher in the next 6-12 months."

The analyst added: "With funding secured for the current programme, we see the lift in production and reserves moving Caza back towards profitability.

"We have lifted our price target to 28p (from 25p) and maintain our BUY recommendation."

Last week, Caza chief executive Michael Ford said he was very pleased with the group’s ongoing operations in the Bone Springs play.

Shares advanced 22.35% to stand at 13p.

So then, 'two cheers' from the stock market for today's news. A move in the right direction, but more importantly a strong hint of better times ahead as CAZA proves up its acreage.

the CEO sums it up here: http://www.lse.co.uk/share-media.asp?shareprice=CAZA&share=caza_oil_&_gas

worth a listen

All solid buys today....one to watch as when it blows it blows

An excellent well test result in New Mexico helped Caza Oil & Gas (LON:CAZA) shares up 7% to 8.4p each.

Caza said that under controlled flow-back, producing rates remained steady at a peak 24 hour gross rate of 800 barrels (bbls) of oil and 1.21mln cubic feet of natural gas, the equivalent of about 1,000 bbls of oil equivalent.

Oil is already being sold and gas will follow shortly.

LISTEN: Mike Ford, CEO of Caza Oil & Gas, discusses the 3rd quarter results and provides an update on the Bone Spring test well

Click here to listen to the webcast

Some strong buying in CAZA this morning, keep an eye on it as when it moves it moves.

Caza's Jazzmaster results suggest Bone Spring play will be 'nice' little earner

By Ian Lyall

December 20 2013, 7:28am

Caza Oil & Gas (LON:CAZA, TSE:CAZ) has unveiled some more encouraging drilling results from the Bone Springs play in New Mexico, underlining the area’s and the company’s huge potential.

Drilling on the Jazzmaster property was followed by fracture stimulation of the second Bone Spring Sand interval that yielded a peak 458 barrels of oil and 470,000 cubic feet of gas, or 536 barrels of oil equivalent. Caza has a near 20% net revenue interest in the Jazzmaster 17 State No. 4H well.

Meanwhile, log data and core samples obtained across the Brushy Canyon, Avalon and first and third Bone Spring Sand intervals indicates the presence of oil and natural gas across each.

Caza chief executive Michael Ford said: “Like Caza's other Bone Spring properties, the Jazzmaster property has multi-pay potential from the primary zones in the play, which should lead to future development drilling on the property.

“This property is also in close proximity to existing infrastructure, which means it is already contributing to sales and cashflow only days after coming online."

At the West Copperline property the latest well (West Copperline 29 Fed No. 1H) that initially flowed 800 barrels of oil and 1.21mln cubic feet of gas has produced at a steady state 650 barrels of oil and 1.1mln cubic feet of gas for 30 days. This followed the decision to intentionally hold back the well, in which Caza has a 47.25% revenue interest.

"We are also very pleased with the results at West Copperline,” Ford said.

“This is a very strong well, and Caza's immediate focus, is to contract a drilling rig for the development of the West Copperline property.

“The next well drilled will be the West Copperline 29 State Com No. 3H well, which should spud within the next few weeks.

“We plan to use our existing funding arrangements to retain the rig in order to drill back-to-back wells on the property.

“If successful, this should add significant cash flow and reserve value to the company.”

On the Two Mesas Property, the latest well has reached its target depth and is currently being fracked in “multiple stages”.

http://www.proactiveinvestors.co.uk/companies/news/66549/caza-oil-gas-reveals-another-bone-spring-success-66549.html

Caza Oil & Gas (LON:CAZA) shares advanced in early deals after it revealed its latest success in the Bone Spring play in New Mexico.

The West Copperline 29 Fed #3H well flowed at rates up to 1,108 barrels of oil equivalent per day, 879 barrels of oil and 1,374 million cubic feet of gas. The company described this as a “strong result”.

The well is still going through the clean-up process, and continues to produce oil and gas.

It follows an earlier success, in the 1H well, and as facilities have already been built at the field oil and gas sales are already underway.

The Bone Springs play comprises a number of layered intervals, and the new 3H well is the first well at West Copperline to test the third Bone Spring level. The prior well on the property tested the first.

Caza says they are both “very strong wells” and they demonstrate the significant upside presented by the stacked pay on the Copperline property and more broadly the Bone Spring play.

"This is another excellent result on the West Copperline Property and continues the company's success in the Bone Spring play,” said chief executive Michael Ford.

“Our Bone Spring program continues to create additional value for our shareholders, and we are excited about this result, as it demonstrates the significant upside to be realized from stacked pay sands in this area.

“Furthermore, our log and core data suggest the 2nd and 3rd Bone Spring Sands are only two of six potential pays present on this property, which indicates the potential for even greater upside with future development."

Drilling is still underway on the 2H well, and target depth is expected in the next ten days, Ford added. This well is expected to deliver similar results as the 1H well, as it is a direct offset to that well.

“The result is significant as this is the first well to unlock the 3rd Bone Spring Sands on this property,” Cenkos analyst Ashley Kelty said in a note.

He added: “the result will materially lift production and reserves over the West Copperline property.

“We believe the success at West Copperline and other nearby properties in the Bone Spring Sands indicates a substantial potential that could prove transformational for Caza.

“With multiple wells to be drilled in the coming months, we would anticipate that reserves and production will grow materially in the next 6-12 months.”

Cenkos rates Caza as a ‘buy’ with a 28p target price (current price: 8.5p), and as such believes the shares are trading at a “substantial discount”.

“It is our view that this [well] result and the potential offered over the near term should go some way to reducing this discount, and restoring confidence.

“With funding secured for the current programme of wells, we see the lift in production and reserves moving Caza back towards profitability.”

Caza plans to update investors on the 2H well once it has been fracked, and flows have been recorded. Elsewhere, a non-operated well, on the Marathon Road property, is currently being fracked and a further update is likely in a few weeks.

Good news after every announcement but no real move upwards!!!!!

WATCH: Caza Oil & Gas (CAZA) - The 65th Oilbarrel Conference

Click here to watch

Conference was positive.

What is going to be the catalyst to get the stock moving back up?

The problem here is that the company keeps issuing shares to Yorkville. Yorkville are selling the shares short in the market and it is this overhang that keeps the price artificially low. Only when this ends or something seismic happens will the share price move to a higher level. I am trying to be patient with this and add whenever I have spare funds available. Sooner or later this will move. I just hope I live long enough to see it.

Yorkville.

Are they a Hedge fund?

More positive news flow.

Excellent update today followed by a positive market response. Huge (for Canada) volume on the TSX tonight and another rise in the Canadian share price bodes well for us tomorrow.

Good news again!!!!!!