Aztec Announces Another Successful Well in Karnes County, Texas
21 Marzo 2011 - 7:15AM
Aztec Oil & Gas, Inc. (Pink Sheets:AZGS) announced today
another successful completion in the Upper Gulf Coast, located in
Southern Karnes County, Texas. Aztec owns a non-operated working
interest in the McCaskill #1 well drilled recently to a depth of
approximately 9,700'. The well encountered five pay zones in the
prolific middle Wilcox formation. The well was completed several
weeks ago in only one of the five zones and averaged 1700 million
cubic feet of gas per day (MCFGPD) and 44 barrels of oil per day in
the month of December. In less than 90 days the well has already
produced in excess of 100,000,000 cubic feet of gas (CFG) and 3,000
barrels of oil. Aztec is continuing to enjoy its long standing
relationships with companies within its own back yard of Texas.
"Our operators and partners bring great value to our Partnerships
when we get these types of opportunities," said Waylan Johnson,
President of Aztec Oil & Gas, Inc. Industry partners for this
project included Hurd Enterprises, Ballard Exploration and other
Texas independent oil companies.
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 exploration
drilling and development drilling; however, when it offers
drilling/production partnerships, Aztec focuses primarily on
shallow, Texas, low risk, development wells. When offered, those
programs/partnerships are placed only by FINRA registered Broker
Dealers and Registered Investment Advisors with accredited investor
partners, and are focused primarily on oil, with natural gas
normally a secondary target.
Aztec entered the sponsored drilling program industry in
2006. Over the next two and one half years, it intentionally
restricted itself to only three small, very limited Appalachian
drilling partnerships 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, primarily for oil in
Texas.
Since 2008, Aztec has, indeed, focused most of its drilling
partnerships on oil wells in Texas. In addition to its initial
three small Appalachian natural gas drilling partnerships mentioned
above, Aztec has, intermittently, sponsored and closed eight other
drilling/production partnerships (all of the latter focused 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
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
low risk, development drilling/production programs which include
significant tax benefits, all of which are placed 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 the forward-looking
statements. As a result, there can be no assurance that the
forward-looking statements included in this release/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/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 conflicts of interests. The price 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 PPM 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
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