Aztec
Announces Closing of Comanche A Partnership
HOUSTON, TX January 22, 2013
-- Aztec Oil & Gas, Inc. (Pink Sheets: AZGS) (“Aztec”)
announced today that, on December 31, 2012, it closed the Aztec
Comanche A Oil & Gas limited partnership. The Aztec Comanche A Oil &
Gas LP closed with approximately $5 million of funding and is
focused primarily on drilling and reworking shallow oil wells in
Texas. Aztec’s
wholly-owned subsidiary, Aztec Energy, LLC, took a thirty percent
(30%) ownership interest in the Partnership, and will act as the
Managing General Partner. Aztec Drilling & Operating,
LLC, another wholly-owned Aztec subsidiary, will serve as the
Partnership's drilling contractor and well operator.
“Aztec’s investment products continue to be utilized by the Broker
Dealer community. We believe the Aztec Programs have been accepted
so well in part because of our geographical area of focus,” stated
Waylan Johnson, President of Aztec Oil & Gas, Inc. He further
stated, “We have, and will continue, to prospect in the Upper Gulf
Coast and Central South and North Texas. These areas give Aztec
multiple horizon potential in single, vertical conventional
drilling locations. Aztec has found a niche by staying out of the
typical resource plays.”
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 fortuitously and 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 contractual
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/rework/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/rework/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, estimates 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 ownership or
activities, have various, material conflicts of interests. The
price(s) received for the oil and natural gas produced from any
investments, activities or 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
Aztec Oil and Gas (CE) (USOTC:AZGSQ)
Historical Stock Chart
From Apr 2024 to May 2024
Aztec Oil and Gas (CE) (USOTC:AZGSQ)
Historical Stock Chart
From May 2023 to May 2024