Resource round-up: Caza Oil & Gas, Edge Resources, President Energy
US-focused Caza Oil & Gas jumped after it confirmed it had reached total vertical depth on its Forehand Ranch well on schedule. Log and core data confirmed the presence of multiple potential pay zones containing oil and liquids-rich natural gas, the firm said. The company added that a twelve stage frac at its Caza Ridge site went off successfully, and it hoped to provide post frac production results in the coming weeks. Shares rose 7.25% following the announcement.
US-focused Caza Oil & Gas jumped after it confirmed it had reached total vertical depth on its Forehand Ranch well on schedule. Log and core data confirmed the presence of multiple potential pay zones containing oil and liquids-rich natural gas, the firm said. The company added that a twelve stage frac at its Caza Ridge site went off successfully, and it hoped to provide post frac production results in the coming weeks. Shares rose 7.25% following the announcement.
Edge Resources also rose strongly after announcing the successful drilling, completion and equipping of two oil wells at its Grand Forks property in Alberta. The company now expects to significantly increase production at the site. The wells have already been tied-into existing pipelines and are being production-tested utilizing the company's existing facilities. Shares were up 8% on the news.
Start your trial of MoneyWeek today
Get unparalleled financial insight, analysis and expert opinion you can profit from.
Sign up for MoneyWeek’s free twice-daily newsletter.
Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
