HOUSTON, May 7, 2012 /PRNewswire/ -- Aztec Oil & Gas,
Inc. (Pink Sheets: AZGS) ("Aztec") announced today the successful
drilling of the Blackstone Southland #1 well, located in
Montgomery County, Texas. The
Blackstone Southland #1 well was drilled, logged, tested and cased
in late November 2011.
The Blackstone Southland #1 well was drilled to approximately
7,400'. Logging and testing resulted in the discovery of at least
six potentially productive oil and gas sands being identified. The
well was initially flow tested at a daily rate of 800,000 CFGPD
with associated condensate on a 10/64th choke, from the Mulepond
sand. Post geological reports estimate that there are an additional
two to three potentially productive locations on the current
acreage block that can be developed in the future. "Also, it should
be noted that on larger wells we normally wait a while to report
them to allow the production results to be scientifically
confirmed," stated Waylan Johnson,
President of Aztec Oil & Gas, Inc.
Aztec has partnered with several privately held oil and gas
companies, some of which are third and fourth generation companies,
to drill and develop projects in Liberty, Montgomery and Tyler Counties. Mr. Johnson further stated,
"Aztec is starting to truly benefit from the 300 years of combined
experience of the management and top consultant group that guides
us daily. Having the opportunity to participate in drilling deals
that 'never make it to the street,' so to speak, will continue to
give Aztec partnerships an edge in the exploratory area of our
partnerships."
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.