Caza Oil and Gas up on drill results
Caza Oil and Gas, the Houston-based exploration company, says re-entry operations at its Caza McMillan #1 Well have been successful.
Caza Oil and Gas, the Houston-based exploration company, says re-entry operations at its Caza McMillan #1 Well have been successful.
Fracturing resulted in an initial production rate of 1.375 million cubic feet of natural gas, and 57 barrels of oil per day.
W. Michael Ford, chief executive of Caza commented: "This new well is producing at expected levels and will quickly add to our current cash flow and production levels."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Shares in Caza had risen 8% by 10.21am although over the year to date the stock is down 77%.
BS
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Regulator moves to protect access to cash amid branch closures and disappearing ATMs
News The Financial Conduct Authority has told banks to start assessing if local communities have adequate cash access from mid-September
By Marc Shoffman Published
-
VAT hike on private school fees could come earlier than previously expected
The government could start charging VAT on private school fees as soon as January 2025, according to the latest reports. What does it mean for parents?
By Katie Williams Published