Caza Oil & Gas Announces Hydrocarbon Discovery In New Mexico, US

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Caza Oil & Gas Announces Hydrocarbon Discovery In New Mexico, US

Published: 06-Oct-2009

Caza Oil & Gas, Inc. (Caza Oil & Gas) announced a hydrocarbon discovery in the Abo/Wolfcamp horizontal oil play in New Mexico, US. The Lucky Penny 10 State #1 horizontal well in Lea county, is company's initial well in the play. The well was drilled to a total measured depth of 10,571 feet. The horizontal section was fracture stimulated and a production pump has been installed. Details on flow rate will be provided once fracture fluid has been recovered and oil production has stabilized.

Caza Oil & Gas has a 12.5% carried working interest in the Lucky Penny well and a net revenue interest of 9.375%.

Other participants in the well include: Endeavour International Corporation with a 56.25% working interest and 42.1875% net revenue interest; and Wise Oil & Gas No. 8, Ltd. with a 31.25% working interest and 23.4375% net revenue interest.

Mike Ford, chief executive officer and president of the company, commented: "We are very pleased to have a discovery with our first well in the Abo/Wolfcamp horizontal oil play. We hope to report encouraging news regarding flow rate in due course."

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Caza Oil & Gas Announces Hydrocarbon Discovery In New Mexico, US

Published: 06-Oct-2009

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