Aztec Announces a Second Successful Well in San Patricio County, Texas
31 Marzo 2011 - 3:25PM
Aztec Oil & Gas, Inc. (Pink Sheets:AZGS) announced the Welder
A-37 was drilled to a total depth of 6,208 feet and encountered
multiple formations.
"Utilizing sidewall cores to further evaluate the well's
electric log, there appear to be four to five zones of commercial
interest in the probable to possible categories," stated Waylan
Johnson, President of Aztec Oil & Gas, Inc. Furthermore, he
stated, "The A-37 is our second successful well in the area, and we
are working on several more ideas in San Patricio County. This
county is typical of the type of area in Texas where we are
afforded the opportunity to find sizeable reserves shallower than
6,500 feet."
Several Texas Independent Producers have joined Aztec as
Partners in the San Patricio County area drilling as Aztec
continues its dedication to drilling low-risk, shallow oil wells in
Texas.
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 early,
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(s) 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 Memorandum 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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