Dual-listed Caza Oil & Gas is already selling oil from its recently-completed Gramma Ridge property well in New Mexico.

The well reached its total depth in the 3 Bone Spring Sand interval and was fractured there before being flowed back.

It produced 830 barrels of oil and 4.63 million cubic feet of gas over a 24-hour period.

Oil from the well is already being sold on the market with the company expecting to start gas sales in the near future.

Data was also obtained across the Brushy Canyon, Avalon and 1 and 2 Bone Spring Sand intervals at the 27-1H well indicating the presence of oil and gas across the intervals.

Caza said it thought the deeper Wolfcamp formation on the property was prospective for oil and natural gas.

The company holds a 52.5% working interest in the well and the acreage.

At the non-operated Jazzmaster property, the 17-3H Bone Spring well has reached its total depth as well.

The well will be fracture stimulated in the near future.