HOUSTON, April 30, 2012 /PRNewswire/ -- Aztec Oil
& Gas, Inc. (Pink Sheets: AZGS) ("Aztec") announced today the
successful drilling & completion of the Welder A38 well located
in San Patricio County, TX. Aztec
has now drilled its third successful well in San Patricio County, Texas. The Welder A38
well was originally logged and completed in September 2011 with five productive pay zones
calculated by log, cores and formation tests. Again, Aztec normally
delays announcing production results on some larger wells to give
time for scientific confirmation of results.
"The ability to drill medium to shallow depth vertical wells in
such prolific areas and have multiple productive pay zones
continues to build on the Aztec model for our partnerships," stated
Waylan Johnson, President of Aztec
Oil & Gas, Inc. He further stated, "We have plans to drill at
least two additional wells in the area in the next few months as
San Patricio County and the upper
Gulf Coast continues to be one of Aztec's focus areas."
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.
