Caza Oil & Gas, Inc. Operational Update

Caza Oil & Gas, Inc. (TSX:CAZ)(AIM:CAZA) provided an update on the Matthys-McMillan Gas Unit #2 development well located in the Wharton West Wilcox Field, the O.B. Ranch #1 well on the Bongo prospect and proposed activity at the Arran prospect in Acadia Parish, Louisiana and Windham Wolfberry prospect in Upton County, Texas.

The press release is quoted as saying:

As previously reported, Matthys-McMillan #2 (Caza is the operator and has a 19.61% working interest) was drilled to a total depth of 15,000′. During the course of drilling, the well encountered multiple Wilcox sands that from log information appeared to be gas bearing. Significant pressure was encountered, which required the use of heavy drilling mud to control the well. Attempts have been made to execute a natural completion (i.e. without fracture stimulation) in four separate sand intervals within the Wilcox formation. At this time an economic flow rate has not been established. The Company’s post drill evaluation indicates poor reservoir characteristics at this particular location. However, Caza is continuing to pursue further investigative work concerning the Wilcox sands.

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