Aztec Announces 58th Consecutive Productive Well in Medina County, TX
10 Août 2011 - 3:00PM
Aztec Oil & Gas, Inc. (Pink Sheets:AZGS) announced its 58th
consecutive productive well in Medina County. Aztec has teamed with
Texas Secondary Oil Company (TSOC) to develop and infield drill a
significant number of Olmos and Austin Chalk wells in Medina
County.
"We are incredibly pleased with our relationship with TSOC in
Medina County. Utilizing some of the newer frac technology, we
are seeing some flush production of wells sometimes 50% above
expectations. We have considerable additional acreage to drill with
TSOC and are looking forward to years of productive results,"
stated Waylan Johnson, President, Aztec Oil & Gas, Inc.
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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