HOUSTON, April 25, 2012 /PRNewswire/ -- Aztec Oil &
Gas, Inc. (Pink Sheets: AZGS) ("Aztec") announced today that Aztec
Drilling & Operating LLC ("ADO"), the turnkey operator for all
Aztec partnerships, signed a contract for the drilling of 100+
additional wells with working interest partner and field contract
sub-operator, Texas Secondary Oil Company ("TSOC").
"These wells are located in prolific Medina County, Texas, more specifically the
Taylor Ina Field where we have had good success and already have in
excess of 100 wells. Our relationship with TSOC and Burch Downman (President & Founder of TSOC)
has proven to be very successful for both firms," stated
Waylan Johnson, President of Aztec
Oil & Gas, Inc. He further stated, "When a company like Aztec
gets the opportunity to partner with one of the largest oil
producers in Medina County, who
has extensive expertise in drilling, producing and operating
shallow oil wells, the end result is very positive."
Aztec currently has two rigs drilling full time in Medina County, with plans to start a
third.
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 oil 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 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
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
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; and
another wholly-owned Aztec Oil & Gas Inc. subsidiary, Aztec
Drilling & Operating, LLC, is the drilling contractor and 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 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 Oil & Gas Inc., its
subsidiaries or affiliates (collectively "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, or more, than quoted NYMEX prices at any
given times. 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 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.