Aztec Oil & Gas, Inc. (Pink Sheets:AZGS) announced its third
well in San Patricio County, Texas. Aztec has teamed with Dallas
operator, Sydri Oil & Gas, in recently drilling two other
successful wells in San Patricio County, Texas.
By sticking to their developmental drilling program and
utilizing local successful operators, Aztec has drilled those two
new wells (Welder A-36 and A-37) in the South Texas area, both
having multiple pay zones and approximately 85 BOPD equivalent
production. It now has commenced drilling of the Welder A-38 in the
same area.
"We will drill this third well and continue to pursue prospects
in the area," stated Waylan Johnson, President, Aztec Oil &
Gas, Inc. He further stated, "Our target is to drill shallow,
relatively inexpensive vertical wells which can yield multiple pay
zones with potential for 20 to 30 years of production. That allows
Aztec and its partnerships to produce the wells for 6 to 7 years,
and have the option to potentially sell substantial remaining
reserves; which opportunity goes hand in hand with our exit
strategy for our partners."
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, with accredited investor
partners, only through FINRA registered Broker Dealers and
Registered Investment Advisors, 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 almost all 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 a very significant number of 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 lower risk, development
drilling/production programs which include significant tax
benefits, all of which are offered 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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