Caza Oil & Gas, Inc. Announces Shareholder Approval of Share Consolidation and All Other Business at Shareholders Meeting

MIDLAND, TEXAS--(Marketwired - May 2, 2016) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Caza Oil & Gas, Inc. ("Caza" or the "Company") (TSX:CAZ)(AIM:CAZA) hereby announces that all resolutions proposed at a special meeting (the "Meeting") of shareholders held on April 29, 2016, were duly approved by the shareholders of the Company.

Accordingly, the Company confirms that the consolidation (the "Share Consolidation") of the common shares (the "Common Shares") of the Company on a 560,000,000 to one basis has been approved. Shareholders also approved the cancellation (the "Cancellation") of the admission to trading of the Common Shares on AIM market of the London Stock Exchange plc ("AIM") at the Meeting.

Trading of the Common Shares on AIM will cease at the close of business on May 19, 2016 with the Cancellation becoming effective at 7.00 a.m. (GMT) on May 10, 2016. The Company confirms that the Consolidation will be completed after the Cancellation has been effected and will issue a further announcement confirming the timing and mechanics of the Consolidation in due course.

Holders of 9,444,256,720 Common Shares, being 99.6% of the issued and outstanding Common Shares of the Corporation, were represented at the Meeting in person or by proxy. Approximately 99.9% of the Common Shares represented at the Meeting voted in favour of the Share Consolidation and approximately 99.998% of the Common Shares represented at the Meeting voted in favour of the Cancellation.

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).

The TSX has neither approved nor disapproved the information contained herein.

ADVISORY STATEMENT

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", "hope", "project", "predict", "potential", "intend", "could", "might", "should", "believe", "develop", "test", "anticipate", "enhance" and similar expressions. In particular, statements regarding the completion and timing of the Consolidation and the Cancellation constitutes forward-looking information.

Such forward-looking information is subject to certain risks, assumptions and uncertainties, including risks and uncertainties associated with the completion of the Consolidation and the Cancellation and the other matters contemplated herein. 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.