HOUSTON, TEXAS, Nov 05, 2009 (MARKETWIRE via COMTEX News Network) --

Caza Oil & Gas, Inc. ("Caza" or the "Company") (TSX: CAZ)(AIM: CAZA) is pleased to provide unaudited financial and operational results for the three month period ended September 30, 2009.

Operational highlights for the quarter include:

- Lucky Penny 10 State #1 and Moore Bailout 11 State #1 wells placed on production in New Mexico;

- Drilling operations in New Mexico continue at the Bada Bing 23 State #1; scheduled to be followed by drilling of the Moore Cowbell 27 State #1;

- Caza continues to increase its acreage position in the Abo-Wolfcamp play in New Mexico;

- Caza's production was 116,016 Mcfe for the period, up 27% from 91,463 Mcfe for the comparative period in 2008.

Financial highlights for the quarter include:

- Caza had a positive funds flow from operations for the period of $157,545 as compared to $117,808 funds flow used in operations in the 2nd quarter 2009 and $841,092 funds flow used for the same period in 2008;

- G&A expenses for the period were $267,295, down from $1,857,337 for the comparative period in 2008, due to reductions in G&A expenses and reimbursements from joint venture partners;

- Caza maintained a cash balance of $11.1 million for the period, relatively unchanged from the previous quarter ($11.2 million) despite drilling and leasing activity.

W. Michael Ford, Chief Executive Officer commented:

"We have been active during the quarter acquiring acreage and drilling along with our partners Endeavour International and Wise Oil & Gas. The Endeavour farmout de-risked and accelerated our drilling activities, which provides Caza opportunities for growth in both production and reserves. Additionally, Caza has maintained its strong cash position and posted positive funds flow from operations for the quarter."

Copies of the Company's unaudited financial statements for the third quarter ended September 30, 2009, and the accompanying management's discussion and analysis are available on SEDAR at www.sedar.com and the Company's website at www.cazapetro.com.

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 information within the meaning of securities laws. Such information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "schedule", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. Information regarding the Endeavour farmout agreement contained in this news release constitutes forward-looking information within the meaning of securities laws.

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