Caza announced that the Bongo, O.B. Ranch #1 Well has reached a depth of 12,964 feet, and intermediate casing has been installed, cemented and formation integrity tested. Drilling has recommenced to the target depth of 16,000 feet, which should take approximately fifteen days. Preliminary drilling and log data indicate hydrocarbon bearing sands in a shallower horizon that will require further evaluation.
W. Michael Ford, Chief Executive Officer commented, "We are pleased that drilling on the O.B. Ranch #1 well is progressing as planned and anticipate reaching the target depth within approximately fifteen days."
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