caza investor presentation mar 30, page-3

Bear in mind the day lag with America. From page 15 of the presentation dated the 30th of March 2011. Sentiment now for me has changed to buy if this drill as appears from the presentation is going to occur namely Thames.

Q2 2011
?OB Ranch #2
?Drill Caza 158 #3 (Devon Operated)
?Drill San Jacinto #1 and #2
?Drill McMillan Yegua #1
?Drill Tireeprospect

Caza Oil & Gas: Latest Investor Presentation

The Amazon and Thames prospects (Caza Oil & Gas, Inc. refers to these prospects as Arran and Tiree respectively) are part of a regional exploration project in south Louisiana. Approximately 1,000 square miles of proprietary reprocessed Seitel 3D data has been completed by the Operator with integrated key well and production data obtained.
The Amazon prospect is a large scale, hanging wall fold with nearly 2,000 acres in fault dependent closure including a 400 acre faulted four-way closure. The prospective reservoir interval is Oligocene sands which appear seismically very thick. Amazon has good AVO and Fluid Factor support.
A 16,000 ft exploration test of this multi-segment prospect is expected to spud in mid January, 2011. The test well will drill through the Oligocene target sands between 14,000 ft and 16,000 ft where it is expected to encounter abnormal reservoir pressure in the order of 11,000 psi.
The Thames Prospect is currently proposed to drill a 16,000ft exploration test well of this multi-segment prospect on the flank of a vertical salt weld. The Thames prospect has stacked objectives in a fault bound block with one larger, deeper objective target interval providing large volume upside. The prospective reservoir interval is Oligocene ponded basin floor fan. The prospect has good AVO support. The Thames well is expected to spud in 2011 following the drilling and testing of the Amazon target reservoirs.