Caza Oil & Gas, Inc. provided an operational update on the Company's drilling activities in southeast New Mexico.
Sombrero Prospect, Lea County, New Mexico. The CML Exploration, LLC ("CML") operated WC 35 State No. 1 well has been perforated in the San Andres interval between 4,814-4,821 feet. CML is swab testing the well with a 50% oil cut and good fluid entry, reporting 700 feet of fluid on each run. There remains 25% of load to be recovered, and CML is waiting for an available frac crew to frac the well. Caza will update the market accordingly once the frac has taken place. Caza has a 20% working interest and an approximate 17.125% net revenue interest in the WC 35 State No. 1 well.