Caza Oil & Gas (LON:CAZA) , the US based exploration and production group, said this morning that it had agreed a rig deal that would see drilling on its Arran prospect in Acadia Parish, Louisiana, begin on or around December 18, 2010. Caza has signed a drilling contract with Nabors Drilling USA to use the Nabors Rig 4 to drill the Marian Baker #1 well on Arran to a total depth of approximately 16,000 feet.
This is important news for Caza because the company regards Arran as one of the most significant of a new wave of prospects that have been identified during new analysis of its vast 3D seismic data banks. The new well will target a multi-segment prospect, with prospective reservoirs supported by AVO (amplitude versus offset) data within a proven play fairway. The Marian Baker #1 well is expected to encounter multiple, potential, hydrocarbon bearing reservoir sections.
In an interview with Stockopedia in October, Caza’s chairman, John McGoldrick said the company had estimated something in the region of 250 billion cubic feet of gas plus liquids at Arran. In today’s update, it said it had acquired additional working interest from two internal partners in the prospect and would now participate with 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%. The company’s partner on the drilling programme is the privately owned California-based company, Pass Petroleum. Shares in Caza rose by 0.5% to 49.7p during the morning.
http://www.investegate.co.uk/Article.aspx?id=201101170700105442Z
January 17, 2011
"HOUSTON, TEXAS Caza Oil & Gas, Inc. ("Caza" or the "Company") (TSX: CAZ) (AIM: CAZA) is pleased to announce that drilling has commenced on the Company's Arran Prospect ("Arran") 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."
This follows another presentation and interview with John McGoldrick:
http://www.proactiveinvestors.co.uk/companies/stocktube/638/john-mcgoldrick-of-caza-oil-gas-says-last-years-huge-share-price-could-be-repeated-.html
Lots of mentions of, "Company making wells" and the like.
