Grant of Options (3287Q)

TIDMCAZA

RNS Number : 3287Q

Caza Oil & Gas, Inc.

17 October 2011

October 17, 2011

Caza Oil & Gas, Inc.

Grant of Options

HOUSTON, TEXAS (Marketwire - October 17, 2011) - Caza Oil & Gas, Inc. (the "Company" or "Caza") (TSX: CAZ) (AIM: CAZA) announces that on October 12, 2011, the Company's Board of Directors granted options over 500,000 Common Shares ("Common Share") to David McManus, a Non-Executive Director of the Company, under the Company's share option arrangements.

The options have an exercise price of US$0.13 per Common Share, representing the closing price on the Toronto Stock Exchange of the Common Shares on October 11, 2011. Provided Mr. McManus remains a Non-Executive Director of the Company, the options vest one-third on July 12, 2012 and one-third on July 12, 2013 and 2014.

The Directors of the Company currently hold the following options:

 
                        Options at the date      % of issued 
 Director              of this notification    share capital 
 David McManus                      500,000              0.3 
 J. Russell Porter                  900,000              0.5 
 Cornelius Dupre 
  II                                900,000              0.5 
 John McGoldrick                  1,200,000              0.7 
 W. Michael Ford                  1,350,000              0.8

About Caza

Caza is engaged in the acquisition, exploration, development and production of hydrocarbons in the following regions of the United States of America through its subsidiary, Caza Petroleum, Inc.: Texas Gulf Coast (on-shore), South Louisiana, and the Permian Basin (West Texas and Southeast New Mexico).

For further information, please contact:

Caza Oil & Gas, Inc.

Michael Ford, CEO +1 432 682 7424

John McGoldrick, Chairman +1 832 573 1914/+44 7796 861 892

Cenkos Securities plc

Jon Fitzpatrick +44 20 7397 8900 (London)

Beth McKiernan +44 131 220 6939 (Edinburgh)

M: Communications

Patrick d'Ancona +44 20 7920 2330 (London)

Chris McMahon

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", "intend", "could", "might", "should", "believe", "develop", "test", "anticipation" and similar expressions.

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 and the Company's website at www.cazapetro.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 may be required by securities laws.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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