Executive Summary

Caza Oil & Gas, Inc currently owns approximately 63.7% of the outstanding shares of Caza Petroleum, Inc (\Caza Petroleum\) with the balance (36.3%) held by the Management Team (see below for definition). Caza Petroleum is involved in oil and gas exploration and production in the United States of America. Caza is engaged in the acquisition, exploration, development and production of hydrocarbons in the Texas Gulf Coast, south Louisiana, southeast New Mexico and the Permian Basin of west Texas regions of the United States of America through its subsidiary, Caza Petroleum. Caza Petroleum has interests in approximately 34,000 gross (11,400 net) acres of land and operates the majority of its acreage. Caza Petroleum also enjoys non-exclusive viewing rights in respect of 8,000 square mile 3-D Seismic data. Caza Petroleum's current asset portfolio includes producing assets, new development projects, appraisal and exploration targets, prospects and leads. The seven properties and prospects which comprise approximately 90% of its portfolio are: the Hite Offset, Wilcox 116, Bongo and Soledad Creek properties and Las Animas prospect located in the Texas Gulf Coast region and the Thunder Stud and the Alligator properties located in south Louisiana.

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