Drilling Commenced at Caza's Arran Prospect
Caza reported that drilling has commenced on the Company's Arran Prospect in Acadia Parish, Louisiana. The Marian Baker #1 well commenced drilling on Sunday, January 16, 2011, and is the initial test well on Arran.
Arran is a significant, 3-D seismically defined prospect supported by AVO data within a proven play fairway. The Marian Baker #1 well is designed to drill to a total depth of approximately 16,000 feet and is expected to encounter multiple, potential, hydrocarbon bearing reservoir sections. It is expected to take approximately 60 days to reach the proposed total depth.
Caza has a 25% working interest before casing point and a 35.94% working interest after casing point in the Marian Baker #1 well with an approximate net revenue interest of 26.24%.
W. Michael Ford, Chief Executive Officer commented, "We are very pleased to announce the commencement of drilling operations on the Arran Prospect. Arran has significant upside potential for Caza and affirms management's focus and commitment toward high-impact exploration activities in Texas and Louisiana."