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very slow drilling imo ..
will sit and wait.. considering taking out tnpo instead of current holding of qpn .. see whats happening early next week ..
New well testing due between March 18th - 21st.... hopefully it is a motherload... any idea guys? This forum topic has gotten dead? Did everyone sell out?
Will tomorrow be the day the company announces some results???
It should be.
Fingers crossed.... any profit will be a good profit from this thingI guess no one has much info on the anticipated results? Any factors or feelings towards what we might see and related SP jumps or tumbles?
i'll be happy with 4c on a positive announcement, dont hold much hope if its a duster. In the lap of the gods now so what will be will be. Interesting to note Caza is trading as usual today and no update from them. They operate a very tight ship and full credit to them for that.
March 22, 2011
Caza Oil & Gas, Inc.
CAZA OIL & GAS PROVIDES AN OPERATIONAL UPDATE
ON ARRAN PROSPECT/MARIAN BAKER #1 WELL
HOUSTON, TEXAS (Marketwire - March 22, 2011) - Caza Oil & Gas, Inc. ("Caza" or
the "Company") (TSX: CAZ) (AIM: CAZA) has announced today that the Marian
Baker #1 well (the "Well") on the Arran prospect in Acadia Parish, Louisiana,
was drilled to a total depth of 15,462 feet on March 20, 2011.
Caza has analyzed data collected from the Well. Although several sand
sections exist throughout the wellbore, the log data indicates that the
targeted Middle Frio section between 12,500-15,462 feet has extremely low
porosity and permeability. The shallower sands in the Upper Frio sections
between 9,600-12,200 feet, which produce in the immediate area from the
Midland Field, appear to be wet at this location. However, based on log data,
the Company has reason to evaluate these shallower sands for additional
potential across its current acreage block. After determining that none of
the sands are likely to be productive at commercial rates, the Company has
sought approval from its partners in the Well to proceed with plug and
abandonment procedures.
Caza had a 25% working interest before casing point in the Marian Baker #1
well. The Well was drilled on time and within the estimated dry hole costs.
Following its release of yearend reporting documents later this week, Caza
will be making further operational announcements in the near future regarding
plans for its other projects including: Bongo/O.B. Ranch development, Windham
Wolfberry development and additional exploratory projects (including updates
on our future south Louisiana projects such as Tiree and Lewis).
Mike Ford, Chief Executive Officer of the Company, commented:
"Although results on the Marian Baker #1 well are disappointing, it is
important to note that because very little subsurface data exists in this area
at these depths, Caza expects that the data collected while drilling the well
will be valuable as we define additional high-value exploration prospects in
this area. Additionally, the Company will continue using a significant
portion of the funds from the equity raise in November 2010 on development and
exploratory drilling in 2011. Our cash reserves should have the Company well
placed to execute a strategy of revenue and reserve growth throughout 2011."
Well we all lose our money haha
hey guys, as a newbie what would you say the course of action is now? I had a small sum in QPN, do we sell at pre-open market value? hold a couple weeks and sell then? also any predictions as to what it will open at tomorrow?
thanks.
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