Additional Listing

November 23, 2011

Caza Oil & Gas, Inc.

Additional Listing

HOUSTON, TEXAS (Marketwire - November 23, 2011) - Caza Oil & Gas, Inc. ("Caza" or the "Company") (TSX: CAZ) (AIM: CAZA), the U.S. focused exploration, appraisal, development and production company announces that following exercise of employee options at a price of US$0.07 per common share, 266,667 common shares in the Company have been issued and allotted.

Application has been made to the London Stock Exchange for the 266,667 common shares, which will rank pari passu with the existing shares in issue, to be admitted to trading on AIM, and admission is expected to become effective on November 29, 2011.

Following admission, the Company will have 164,743,667 common shares outstanding. The figure of 164,743,667 common shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change their interest in, the Company under the FSA's Disclosure and Transparency Rules.

The 266,667 common shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and may not be offered, sold or delivered, directly or indirectly, in or into the United States or to or for the account or benefit of any U.S. person unless the securities are registered under the Securities Act or an exemption from the registration requirements of the Securities Act is available. This press release does not constitute an offer to sell or solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful.

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 and Louisiana Gulf Coast (on-shore), 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

The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.

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.