HOUSTON, May 2, 2012 /PRNewswire/ -- Aztec Oil & Gas,
Inc. (Pink Sheets: AZGS) ("Aztec") announced today their continued
success with completing Olmos wells in Medina County, Texas.
"Aztec recently announced contracting for 100+ new wells in
Medina County, Texas. In addition
to those new wells, we have drilled, completed and frac'd
approximately 47 wells in the last 12 months in Medina County with very nice success," stated
Waylan Johnson, President of Aztec
Oil & Gas, Inc. He further stated, "Recently, we have seen some
post-frac production nearly double from the earlier wells we
previously completed in the same area. By perfecting the frac size
and design, plus strategizing carefully in determining the fairways
or sweet spots, we believe our daily rates will be positively
affected and we will experience a very favorable increase in the
ultimate recoverable reserves."
Aztec continues to inventory locations and allocate drilling in
the Taylor Ina Field.
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.