Caza Oil & Gas, Inc. Announces Successful Drilling of Matthys-McMillan Gas Unit #2 Well

HOUSTON, TEXAS, Apr 22 (MARKET WIRE) --
Caza Oil & Gas, Inc. ("Caza" or the "Company") (TSX:
CAZ)(AIM: CAZA) is pleased to announce that it has successfully drilled
the Matthys-McMillan Gas Unit #2 development well located in the Wharton
West Wilcox Field to a total depth of 15,000 feet. The well encountered
multiple gas bearing sands. Based on data gathered, Caza intends to test
and complete the well as a natural gas producer. Completion and testing
operations are underway and are expected to take approximately 30 days.

Caza is the operator of this well and has a 19.61% working interest and a
corresponding 14.32% net revenue interest.

Mike Ford, Chief Executive Officer of the Company, commented:

"The Matthys-McMillan Gas Unit #2 is the second operated well in
this field for Caza. The results from the well are in line with
expectations and we look forward to placing this well on production in
the near future. The information gathered from the testing program
planned for this well will be useful in our continued evaluation of both
the Wharton West Wilcox Field and our Bongo prospect which lies 1.5 miles
south."

In accordance with AIM Rules - Guidance Note for Mining, Oil and Gas
Companies, the information contained in this announcement has been
reviewed and approved by Anthony B. Sam, Vice President, Operations of
Caza who is a Petroleum Engineer and a member of The Society of Petroleum
Engineers.

ADVISORY REGARDING FORWARD LOOKING STATEMENTS

Information in this news release that is not current or historical
factual information may constitute forward-looking statements within the
meaning of securities laws. Such information is often, but not always,
identified by the use of words such as "seek",
"anticipate", "plan", "continue",
"estimate", "expect", "may",
"will", "project", "predict",
"potential", "targeting", "intend",
"could", "might", "should",
"believe" and similar expressions. Information regarding the
Matthys-McMillan Gas Unit #2 development well, Wharton West Wilcox Field,
Bongo prospect and/or future exploration and drilling activities
contained in this news release constitutes forward-looking information
within the meaning of securities laws.

Implicit in this information, particularly in respect of wells, gas
production, flow rates and test rates are assumptions regarding projected
revenue and expenses. Specifically, the Company has assumed that these
wells will produce positive results. These assumptions, although
considered reasonable by the Company at the time of preparation, may
prove to be incorrect. Readers are cautioned that actual future operating
results and economic performance of the Company are subject to a number
of risks and uncertainties, including general mechanical, economic,
market and business conditions and could differ materially from what is
currently expected as set out above. Future flow rates from wells may
vary, perhaps materially, and the wells in question may prove to be
technically or economically unviable. Any future flow rates will be
subject to the risks and uncertainties set out herein.

For more exhaustive information on these risks and uncertainties you
should refer to the Company's most recently filed annual information form
which is available at www.sedar.com. You should not place undue
importance on forward-looking information and should not rely upon this
information as of any other date. While we may elect to, we are under no
obligation and do not undertake to update this information at any
particular time, except as required by applicable securities laws.

The Toronto Stock Exchange has neither approved nor disapproved the
information contained herein.

Contacts:
Caza Oil & Gas, Inc.
John McGoldrick
+1 281 363 4442

Caza Oil & Gas, Inc.
Michael Ford
CEO
+1 432 682 7424

Westhouse Securities Limited
Tim Feather/Richard Baty
+44 (0)20 7601 6100

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