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PAIV:Caza Oil & Gas nominate David McManus for non-exec role
 
Caza Oil & Gas (LON:CAZA, TSX:CAZ) has nominated David McManus to join the board of directors as a non-executive director after current non-executive director John Rooney decided not to stand for re-election at the upcoming AGM.
The AGM will take place on 12 July. Shareholders will vote on the proposed appointment then.

McManus is an experienced petroleum engineer with over 35 years experience in the oil and gas industry, Caza said. His current appointments include positions at Pioneer Natural Resources, Cape Plc and Rockhopper Exploration.

The company is developing a number of producing oil fields in the Texas, Louisiana and New Mexico.

In Last month’s first quarter results Caza said told investors that it is making good progress as it reported continuous growth in production and revenues in the first quarter to the end of March 2011.

Aggregate production increased 26 percent from the fourth quarter to 23,974 barrels of oil equivalent, representing a production increase to 266 boe per day on average over the first quarter.

Revenues from oil and gas sales increased 41 percent to US$1.04 million from US$742,409 for the fourth quarter of 2010. The increase in revenues is a result of additional wells brought on line during 2010 and the first quarter of 2011 and the increase in commodity prices, Caza said in an operational update.

Caza is well capitalized with a cash balance of US$30.8 million as of March 31 2011.
Source