U.S. Markets open in 7 hrs 52 mins

Caza Oil & Gas Announces Director and Officer Share Dealings

HOUSTON, TEXAS--(Marketwire - Dec 13, 2012) - Caza Oil & Gas, Inc. ("Caza" or the "Company") (CAZ.TO)(CAZA.L) announces that the Company has granted on December 4, 2012, a total of 5,660,000 share options (the "Share Options") to certain directors, officers and employees under the Caza share option plan. The Share Options have been granted to directors and officers as follows:

Director/Officer Number of
Caza Share
Options granted
Number of
Caza Share
previously held
Number of
Caza Share
Options held
following the
option grant
John McGoldrick (Chairman) 300,000 1,200,000 1,500,000
W. Michael Ford (CEO, President) 650,000 1,350,000 2,000,000
Russell Porter (Non-Executive) 300,000 900,000 1,200,000
Cornelius Dupre'' (Non-Executive) 300,000 900,000 1,200,000
David McManus (Non-Executive) 300,000 500,000 800,000
Randy Nickerson (VP Exploration) 750,000 1,000,000 1,750,000
Anthony Sam (VP Operations) 500,000 1,250,000 1,750,000
Richard Albro (VP Land) 500,000 1,250,000 1,750,000
James Markgraf (VP, Chief Financial Officer) 500,000 1,225,000 1,725,000

In addition to the Share Options granted to directors and officers, a further 3,810,000 Share Options have been granted to certain employees of Caza.

The Share Options will vest in tranches of one-third of the grant each year over the first three years from the date of grant and may be exercised at any time from December 4, 2013 until December 4, 2022 at an exercise price equivalent to 17.6 pence per option. Following the grant of the Share Options, the total number of options outstanding over ordinary shares in the Company is 16,900,000, which represents 10.3% of Caza''s current issued share capital.

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.: Permian Basin (West Texas and Southeast New Mexico) and Texas and Louisiana Gulf Coast (on-shore).