Advance Payment of Yorkville Convertible Loan

July 21, 2014

CAZA OIL & GAS ANNOUNCES ADVANCE PAYMENT OF

YORKVILLE CONVERTIBLE LOAN

HOUSTON, TEXAS (Marketwire - July 21, 2014) - Caza Oil & Gas, Inc. ("Caza" or the "Company") (TSX: CAZ) (AIM: CAZA) is pleased to announce that it has voluntarily prepaid all amounts owing under its $4.3 million convertible unsecured loan (the "Loan") made available by YA Global Master SPV Ltd., an investment fund managed by Yorkville Advisors LLC ("Yorkville"), which was announced on November 5, 2013. The prepayment amount of $1,676,777 terminates the Loan between the Company and Yorkville.

W. Michael Ford, Chief Executive Officer commented:

"We're pleased to announce the termination of this Loan. The capital associated with the Loan provided us with the needed financial flexibility to deploy capital in the Bone Spring Play, which has been beneficial to the Company and our shareholders."

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).

For further information, please contact:

Caza Oil & Gas, Inc.

Michael Ford, CEO +1 432 682 7424

John McGoldrick, Chairman +65 9731 7471 (Singapore)

Cenkos Securities plc

Beth McKiernan +44 131 220 9778 (Edinburgh)

Neil McDonald +44 131 220 6939 (Edinburgh)

Vigo Communications

Chris McMahon +44 20 7016 9570

Patrick d'Ancona

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