HOUSTON, April 3, 2013 /PRNewswire/ -- Aztec Oil
& Gas, Inc. (Pink Sheets: AZGS) ("Aztec") announced today that
on March 22, 2013, it filed its
annual audited financials for the fiscal year ending August 31, 2012. The financial reports are
available under Aztec's symbol (AZGS) at www.otcmarkets.com and
will soon be posted on the SEC website.
"In anticipation of some future changes and improvements our
firm will be undertaking, we asked the auditors to be very
conservative and detailed on our current annual audit. That, along
with the significant amount of wells in which we have interests and
operate, caused a bit more delay in issuing the audited report than
we originally anticipated. We will now have the current quarterly
reports finished and issued quickly, by our CPA firm, so we are
current in every category," stated Ariane
Cox, Vice President of Aztec Oil & Gas Inc.
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, intermittently, 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 give the firm time 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.
Since 2008, Aztec has, indeed, when offered, focused almost all
of its sponsored drilling/production 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 parent company 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. When sponsored, such programs 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");and may contain
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. Based on various underlying
assumptions, estimates and expectations and subject to risks and
uncertainties which could cause actual events to differ materially
from those expressed in such statements, there can be no assurance
that such forward-looking statements will prove to be accurate or
correct. The future performance or events described in such
forward-looking statements might not occur. Investors should never
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. 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 time. 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 or assume any obligation(s)
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) 748-6398
Shareholders@AztecOG.com
SOURCE Aztec Oil & Gas, Inc.