HOUSTON, Oct. 8, 2013 /PRNewswire/ -- Aztec Oil & Gas,
Inc. (Pink Sheets: AZGS) ("Aztec") is pleased to announce the
appointment of Fred S. Zeidman as
President effective October 1, 2013.
Meanwhile, the Aztec Board of Directors will continue its review of
candidates for the permanent position of President or Chief
Operating Officer.
Mr. Zeidman is a prominent, highly regarded Houston business and civic leader with an
extensive history of successfully operating and enhancing various
businesses. Mr. Zeidman received his BSBA from Washington University and his MBA from New York University. He is the former Chairman and
CEO of Seitel Inc., a large and very prominent geophysical, and
previously exploration, firm based in Houston. Mr. Zeidman is presently Chairman of
Petroflow Energy, Director of Petro River Oil Corporation, Director
of Hyperdynamics Corp, and Director of Prosperity Bancshares Inc.,
among other positions. Earlier, Mr. Zeidman was Chairman of the
Board and CEO of Uniber Corporation, the largest independent
drilling fluids company in the US, and was also previously
associated with Dean Witter and Co. in New York.
Ariane Cox, Vice President of
Aztec Oil & Gas Inc. stated, "We are very proud to have
Fred Zeidman join our company and
the vote of confidence thereby expressed in the present and future
of Aztec Oil & Gas. We know that because of his reputation and
experience Fred has many companies from which to choose to become
associated. There is no question that Fred brings an enormous
amount of knowledge and contacts to Aztec's experienced staff. We
are additionally quite proud of Fred's dedication to formal
education. He presently serves as Chairman Emeritus – University of Texas Health Science Center, Board of
Directors and Executive Committee – University
of St. Thomas and Houston Community
College Foundation, Board of Trustees – Texas Heart
Institute, Chancellor Advisory Council – Texas
Christian University and Chancellor Advisory Council –
University of Texas. He was also
Founder and President of the Houston Venture Capital Association
and Director of the National Association of Small Business
Investment Companies (NASBIC). Most importantly, Fred comes to
Aztec with an enormous amount of energy company operations
knowledge, plus a multitude of business relationships and contacts
in the energy industry which will directly benefit Aztec now and in
the future."
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 development drilling and
exploration drilling; however, when it, intermittently, offers
drilling/production partnerships, Aztec focuses primarily on
Texas shallow, lower risk,
development and step out oil wells. When offered, such
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 being the secondary target of
production.
Aztec has been in the oil/gas business since 2004, and entered
the sponsored drilling program industry in 2006. Over the
next two and one half years, beginning in late 2006, Aztec
restricted itself to only three small, very limited Appalachian,
natural gas drilling partnerships. Such was done in order to give
the firm time 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
announced it was discontinuing any natural gas drilling in
Appalachia, and was ready to substantially expand its sponsored
drilling program activities, along with its other activities,
primarily for oil in Texas.
Since 2008, Aztec has focused almost all of its sponsored
drilling/production partnerships on oil wells in Texas when the programs are offered. In
addition to its early, initial three small Appalachian natural gas
drilling partnerships mentioned above Aztec has, intermittently,
sponsored and closed a significant number of other
drilling/production partnerships (all of the latter, as stated,
focused primarily on drilling for oil in Texas). Aztec Energy LLC, a wholly-owned
subsidiary of Aztec Oil & Gas Inc., is the Managing General
Partner of all Aztec drilling partnerships. Another wholly-owned
Aztec parent company subsidiary, Aztec Drilling & Operating,
LLC, is the drilling contractor and contractual well operator for
such partnerships. Through its own participation,
contributions and coverage, 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
development drilling/rework/production programs/partnerships which
include significant tax benefits. When sponsored, such
programs/partnerships are offered only through FINRA Registered
Broker Dealers and Registered Investment Advisors to Accredited
Investors. Aztec's sponsored drilling/rework/production
programs, when offered, focus primarily on shallow oil/gas
drilling, are considered unique, and also incorporate a
sophisticated exit strategy for investors. Aztec presently has
interests in approximately 400 wells.
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 Oil & Gas Inc., its
subsidiaries or affiliates (collectively "Aztec");and may contain
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. Based on various underlying
assumptions, estimates and expectations and subject to risks and
uncertainties which could cause actual events to differ materially
from those expressed in such statements, there can be no assurance
that such forward-looking statements will prove to be accurate or
correct. The future performance or events described in such
forward-looking statements might not occur. Investors should never
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 ownership or
activities, have various, material conflicts of interests. Price(s)
received for the oil and natural gas produced from any investments,
activities or properties may be less, or more, than quoted NYMEX
prices at any time. Specific results, yields, benefits, etc. are
not guaranteed by Aztec and are subject to risks and limitations
inherent in the energy industry and/or described in any Memorandum
and elsewhere. Aztec does not undertake or assume any obligation(s)
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) 748-6398
Shareholders@AztecOG.com
SOURCE Aztec Oil & Gas, Inc.
