Caza soars on Lucky Penny well result

Caza Oil & Gas has struck lucky with its first well in the Abo/Wolfcamp horizontal oil play in New Mexico, USA.The company made a hydrocarbon discovery at the Lucky Penny 10 State #1 horizontal well in Lea County, New Mexico.The well has been drilled to a depth of 10,571 feet and a production pump has been installed. Details of the flow rate will be published in due course.Caza has a 12.5% carried working interest in the Lucky Penny well and a net revenue interest of 9.375%.The company’s partners in the field are Endeavour International, which has a 56.25% working interest and 42.1875% net revenue interest, and Wise Oil & Gas No. 8, which has a 31.25% working interest and 23.4375% net revenue interest.