HOUSTON, Jan. 19, 2012 /PRNewswire/ -- Aztec Oil
& Gas, Inc. (Pink Sheets: AZGS) ("Aztec") announced today that,
on December 30, 2011, it closed the
Aztec XII-A Oil & Gas limited partnership, which was opened on
September 1, 2011. The Aztec
XII-A Oil & Gas LP closed with approximately $8.2 million of funding and is focused primarily
on drilling shallow oil wells in Texas. Aztec's wholly-owned
subsidiary, Aztec Energy, LLC, will gain a thirty percent (30%)
ownership interest in the Partnership, and will act as the Managing
General Partner. Aztec Drilling & Operating, LLC, another
wholly-owned Aztec subsidiary, will serve as the Partnership's
drilling contractor and well operator.
"Aztec continued throughout 2011 to build reserves drilling
mainly conventional, vertical oil wells," stated Mr. Waylan Johnson, President of Aztec Oil & Gas
Inc. Mr. Johnson went on to say, "Aztec has been very fortunate in
the areas we've drilled, and by sticking to our plan, our oil and
gas finding costs have continued to be lowered. Our company and our
partners are realizing the benefits of our lower risk well
strategy. We are very optimistic about 2012 and the use of the
XII-A Partnership funds in continuing the implementation of that
strategy."
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 offers drilling/production
partnerships, Aztec focuses primarily on Texas shallow, lower risk, development and
step out 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 being a
secondary target.
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, it
intentionally restricted itself to only three small, very limited
Appalachian, natural gas drilling partnerships. Such was done 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, along with its other activities,
primarily for oil in Texas.
As to only its sponsored drilling partnerships, when offered;
since 2008, Aztec has, indeed, focused almost all of those
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, as stated, focused primarily 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 well 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 such statements. As a
result, there can be no assurance that the forward-looking
statements included in this release/announcement/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/announcement/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, material 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
SOURCE Aztec Oil & Gas, Inc.
