Caza Oil & Gas Inc. (TSX: CAZ), a petroleum and natural gas company, is today’s top stock with strong share price momentum after the company reported drill results at its Gramma Ridge Property in Lea County, New Mexico. Its stock jumped over 16% during the last two consecutive trading days, touching a fresh intraday 52-week high with a greater than average number of shares exchanging hands. In the last session, CAZ was the top gainer in the Canadian energy sector after powering 16.7% higher and ended at its 52-week high of C$0.42 while recording huge volumes of 2.9 million shares. During the past 5-trading sessions, CAZ surged 42.4% with 5-day daily average trading volumes of 140 million shares, while the stock accumulated over 90% during the past month with 30-day daily average trading volumes of 819,149 shares. The stock has provided returns of over 154% year to date.
Recently, CAZ reported excellent drilling results for its Bone Spring program with the initial test well on its Gramma Ridge Property in Lea County, New Mexico. The Gramma Ridge property reached total measured depth of approximately 15,496 feet and produced 830 barrels per day (bbls/d) of oil and 4.63 million cubic feet of natural gas, which equates to 1,602 bbls of oil equivalent on May 27, 2014. In addition, the company is currently drilling ahead of schedule on the West Copperline 29 #4H horizontal Bone Spring well and should reach total depth in the same 3rd Bone Spring Sand interval in about 10 days.
Company Description:
Caza Oil & Gas Inc (TSX: CAZ) through a subsidiary, explores for and produces oil and natural gas. The company operates onshore in the south central United States.
1-Year Stock Chart:
Source: Bloomberg
