Aztec Announces Success in Its First Well in Liberty County, Texas and Another Successful Well in Jones County, Texas
29 Marzo 2011 - 3:30PM
Aztec Oil & Gas, Inc. (Pink Sheets:AZGS) announced that several
weeks ago, Aztec participated in the Dyco Blanding #1 well located
in Liberty County, Texas. The well encountered commercial
hydrocarbons in the lower and upper Blanding formations, plus
additional zones.
The Dyco well went online producing in excess of 75 BOPD during
the first few days of March. "It is amazing to go back into a
field that has been producing oil in excess of 75 years and find
this kind of production," stated Waylan Johnson, President of Aztec
Oil & Gas, Inc. Furthermore, he stated, "Utilizing 3D seismic,
in addition to capitalizing on our partners' 30+ years of history
in the area, gives us a huge advantage in this field."
Aztec has several more projects in process throughout this
area. "The Dyco Blanding well perfectly illustrates our firm's
focus on shallow oil," continued Johnson.
Additional to the foregoing, Aztec also announced today the
successful completion of the Stanley #8 well drilled in Jones
County, Texas with G&F Oil. The well was drilled to a total
depth of 5,500 feet and encountered several pay zones that,
according to the open hole log, calculate to be as productive in
the well as they are in the surrounding area. We are currently
completing in the Ellenburger formation.
About Aztec Oil & Gas, Inc.
Aztec is an experienced oil and gas exploration, development and
production company focusing on Texas plus other areas of the
U.S. Its interests are highly diversified between exploration
drilling and development drilling; however, when it offers
drilling/production partnerships, Aztec focuses primarily on
shallow, Texas, low risk, development wells. When offered, those
programs/partnerships are placed only by FINRA registered Broker
Dealers and Registered Investment Advisors with accredited investor
partners, and are focused primarily on oil, with natural gas
normally a secondary target.
Aztec entered the sponsored drilling program industry in
2006. Over the next two and one half years, it intentionally
restricted itself to only three small, very limited Appalachian
drilling partnerships in order to study and become fully familiar
with the nuances of the sponsored drilling program industry before
expanding to the Company's full capabilities. In the summer of
2008, Aztec publicly announced it was discontinuing any natural gas
drilling in Appalachia, and was ready to substantially expand its
sponsored drilling program activities, primarily for oil in
Texas.
Since 2008, Aztec has, indeed, focused most of its drilling
partnerships on oil wells in Texas. In addition to its initial
three small Appalachian natural gas drilling partnerships mentioned
above, Aztec has, intermittently, sponsored and closed eight other
drilling/production partnerships (all of the latter focused on
drilling for oil in Texas). Aztec Energy LLC, a wholly-owned
subsidiary of Aztec, is the Managing General Partner of all Aztec
drilling partnerships and another wholly-owned Aztec subsidiary,
Aztec Drilling & Operating, LLC, is the drilling contractor and
operator for such partnerships. Through its own participation
and contributions, Aztec owns a 30% interest in all of its
drilling/production partnerships. In general clarification of
its activities, in addition to its own direct corporate
participations in industry partner wells, Aztec sometimes sponsors
low risk, development drilling/production programs which include
significant tax benefits, all of which are placed only through
FINRA Registered Broker Dealers and Registered Investment Advisors
to Accredited Investors. Aztec's sponsored drilling/production
programs, when offered, focus primarily on shallow oil/gas
drilling, are considered unique, and also incorporate a
sophisticated exit strategy for investors.
Please feel free to visit Aztec on the web at www.AztecOG.com.
An option is provided on the website to join the Aztec (corporate)
mailing list and receive up to date information on general Aztec
activities, including all Aztec press releases.
This release/announcement/document is neither an advertisement,
an offer to sell, nor a solicitation of an offer to buy securities,
Units or participations of Aztec. This release/document contains
certain statements, estimates, and forecasts with respect to future
performance and events. All statements other than statements of
historical fact included in this release/announcement/document, a
Memorandum, or the Aztec website, including, but not limited to,
statements regarding future performance of events, are
forward-looking statements. All such forward-looking statements are
based on various underlying assumptions and expectations and are
subject to risks and uncertainties which could cause actual events
to differ materially from those expressed in the forward-looking
statements. As a result, there can be no assurance that the
forward-looking statements included in this release/document, a
Memorandum, or the Aztec Website will prove to be accurate or
correct. In light of these risks, uncertainties and assumptions,
the future performance or events described in the forward-looking
statements in this release/document, a Memorandum, or the Aztec
Website might not occur. Accordingly, investors should not rely
upon forward-looking statements or historical performance as a
prediction or indicator of actual or future results. Also, Aztec
Oil & Gas, Inc., its officers, principals, employees, agents,
subsidiaries, affiliates and consultants, and the other parties,
investors, shareholders, partnerships and partners involved in any
properties, programs, partnerships and Aztec activities have
various conflicts of interests. The price received for the oil and
natural gas produced from any investments, activities, properties
may be less than quoted NYMEX prices at any given times. Specific
results, yields, benefits, etc. are not guaranteed by us and are
subject to risks and limitations inherent in the energy industry
and/or described in any PPM and elsewhere. Aztec does not undertake
any obligation to update any forward-looking statements, facts or
other information, whether as a result of new information, future
events, subsequent circumstances or otherwise.
CONTACT: Phoenix IR Associates
Investor Relations
Tony Drake
(281) 579-1602
Shareholders@AztecOG.com
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