More good news for Caza from New Mexico

Caza oil and gas, whose shares are up 50 percent in the last week on news flow from its New Mexico assets had more good news today with the issue of a further production update. Caza is currently up a further 4.5p or 32% to 19p, compared with 7p in early October.

Under controlled flowback, the Caza Ridge horizontal Bone Spring well on its Copperline Prospect in Lea County, New Mexico, the producing rates have continued to increase each day, and during the past 24 hours the well produced a total of 844 barrels (bbls) of oil, 1,063 thousand cubic feet of natural gas, which equates to 1,021 bbls of oil equivalent, and 667 bbls of frac fluid.

The well continues to clean up and recovered hydrocarbons and frac fluids at a gross rate of approximately 1,688 bbls equivalent on an 18/64ths adjustable choke at 2,900 pounds per square inch flowing casing pressure.

Quite a return for shareholders who bought in on the recent Texan duster!