Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Aztec Announces Its Second Successful Well in Liberty County, Texas
Aztec Oil & Gas (USOTC:AZGS)
Intraday Stock Chart
Today : Tuesday 5 April 2011
Aztec Oil & Gas, Inc. (Pink Sheets:AZGS) recently announced the successful completion of its first well in Liberty County, the Dyco Blanding #1. Aztec now announces the successful drilling of its second well in Liberty County. The Blackstone 80 #1 well was recently completed in the Cockfield Channel sand that is a known prolific producer in the area. Initial production rates averaged approximately 50 to 60 barrels of oil per day.
"Based on the results of these two wells, we believe we have several additional potential locations for future development in this county," stated Waylan Johnson, President of Aztec Oil & Gas, Inc. Mr. Johnson further stated, "As a result of the foregoing, we anticipate that Aztec will participate in at least 3-5 wells in this field and surrounding areas in 2011."
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 early, 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(s) 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 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
wells wells wells :)
Aztec Announces a Second Successful Well in San Patricio County, Texas
Aztec Oil & Gas, Inc. (Pink Sheets:AZGS) announced the Welder A-37 was drilled to a total depth of 6,208 feet and encountered multiple formations.
"Utilizing sidewall cores to further evaluate the well's electric log, there appear to be four to five zones of commercial interest in the probable to possible categories," stated Waylan Johnson, President of Aztec Oil & Gas, Inc. Furthermore, he stated, "The A-37 is our second successful well in the area, and we are working on several more ideas in San Patricio County. This county is typical of the type of area in Texas where we are afforded the opportunity to find sizeable reserves shallower than 6,500 feet."
Several Texas Independent Producers have joined Aztec as Partners in the San Patricio County area drilling as Aztec continues its dedication to drilling low-risk, shallow oil wells in Texas.
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 early, 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(s) 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 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 Announces Success in Its First Well in Liberty County, Texas and Another Successful Well in Jones County, Texas
Aztec Oil & Gas (USOTC:AZGS)
Intraday Stock Chart
Today : Tuesday 29 March 2011
Aztec Oil & Gas, Inc. (Pink Sheets:AZGS) announced that several weeks ago, Aztec participated in the Dyco Blanding #1 well located in Liberty County, Texas. The well encountered commercial hydrocarbons in the lower and upper Blanding formations, plus additional zones.
The Dyco well went online producing in excess of 75 BOPD during the first few days of March. "It is amazing to go back into a field that has been producing oil in excess of 75 years and find this kind of production," stated Waylan Johnson, President of Aztec Oil & Gas, Inc. Furthermore, he stated, "Utilizing 3D seismic, in addition to capitalizing on our partners' 30+ years of history in the area, gives us a huge advantage in this field."
Aztec has several more projects in process throughout this area. "The Dyco Blanding well perfectly illustrates our firm's focus on shallow oil," continued Johnson.
Additional to the foregoing, Aztec also announced today the successful completion of the Stanley #8 well drilled in Jones County, Texas with G&F Oil. The well was drilled to a total depth of 5,500 feet and encountered several pay zones that, according to the open hole log, calculate to be as productive in the well as they are in the surrounding area. We are currently completing in the Ellenburger formation.
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
What do you think this means for AZGS at this point? The market still seems unimpressed with their developments.
Close call on this one for me and some posts here sounded so certain...Have to watch these pinky scams...Only fully reporting from here on out...lol
Fully reporting companies that cant close deals? What is the point about touting a fully reporting company if all they are reporting is increases in share counts?
This is why one should only invest in fully reporting companies...
Okay, glad I invested more in my other oil company and not here...
Well that explains alot.
Former CEO of Publicly Traded Company Pleads Guilty to Obstruction of Justice
Third Attorney to Plead Guilty In Connection With Ongoing Securities Fraud Investigation
http://legaltimes.typepad.com/files/fisher_plea.pdf
U.S. Department of Justice
United States Attorney for the
District of Columbia
Judiciary Center
555 Fourth St. N.W.
Washington, D.C. 20530
PRESS RELEASE
FOR IMMEDIATE RELEASE For Information Contact:
Tuesday, February 22, 2011 Public Affairs
(202) 252-6933
http://www.usdoj.gov/usao/dc/Press_Releases/index.html
Former CEO of Publicly Traded Company
Pleads Guilty to Obstruction of Justice
Third Attorney to Plead Guilty
In Connection With Ongoing Securities Fraud Investigation
WASHINGTON - Franklin C. Fisher, Jr., 70, an attorney licensed to practice law in
Texas, pled guilty today to a charge of obstruction of justice stemming from his conduct during
an investigation into allegations of securities fraud, announced Robert D. Okun, the Acting U.S.
Attorney in this case, and James W. McJunkin, Assistant Director in Charge of the FBI’s
Washington Field Office.
Fisher, of Houston, pleaded guilty to a one-count information before Chief Judge Royce C.
Lamberth in the U.S. District Court for the District of Columbia. He faces a statutory maximum
term of 10 years in prison on the charge. His sentencing has not yet been scheduled. As part of
the plea agreement, Fisher agreed to forfeit $390,000.
In connection with the guilty plea and as set forth in the executed Statement of Offense,
Fisher acknowledged that from July 2004 through June 2007, he provided consulting services to
Aztec Oil & Gas, Inc. Aztec Oil & Gas was publicly traded under the ticker symbol “AZGS” on
the Over-the-Counter Bulletin Board. From June 15, 2007 through February 1, 2010, Fisher was
Aztec’s Chief Executive Officer and Chairman.
Fisher admitted that, from in or about September 2004 through in or about May 2005, he
and Shelly S. Singhal, a securities broker from Newport Beach, California and an investment
advisor to Aztec Oil & Gas, helped to pay for newsletters recommending the purchase of Aztec
Oil & Gas shares. The newsletters contained false and misleading disclaimers, purportedly paid
for by “a non-affiliated third party,” Bedford Proprietary Trading, LLC. Bedford Proprietary
Trading was a conduit used to receive cash payments directly and indirectly from Singhal, Fisher
and others to pay for the newsletters recommending the purchase of Aztec Oil & Gas shares.
Fisher and Singhal, after the newsletters were disseminated to the investing public, each caused
Aztec Oil & Gas shares to be sold to the investing public.
In October 2008, Fisher was interviewed at the United States Attorney’s Office for the
District of Columbia concerning the involvement by Singhal and Fisher in the Aztec Oil & Gas
newsletters. Prior to the interview, Fisher knew from his discussions with Singhal that the Aztec
Oil & Gas newsletters for which Fisher had partially paid had not complied with applicable
securities regulations. Fisher knew from those discussions, for example, that Singhal had
included references to conduit companies, such as Bedford Proprietary Trading, as the source of
the payment for the Aztec Oil & Gas newsletters to hide the fact that Singhal and Singhal’s firm,
SBI USA, were sources of funding for the Aztec Oil & Gas newsletters.
During the interview with FBI agents and prosecutors, Fisher falsely stated, among other
things, that Fisher did not recall the connection between Singhal and SBI USA to Bedford
Proprietary Trading and did not know the details of the promotional campaign recommending the
purchase of Aztec Oil & Gas shares.
In April 2010, Singhal was indicted on three counts for his alleged involvement in a
conspiracy and scheme to defraud the investing public through the use of stock manipulation
schemes, including a scheme referred to as “scalping.” One of the scalping schemes alleged in
the indictment involved the promotional campaign related to the Aztec Oil & Gas shares. The
indictment charges that Singhal and others fraudulently obtained at least $10 million in proceeds
through the scheme to defraud by artificially increasing the demand for shares, through these
newsletters, of three companies that they controlled, including Aztec Oil & Gas.
Fisher is the third attorney to plead guilty in connection with this ongoing securities fraud
investigation. On November 3, 2009, Robert S. Brown, an attorney from New Rochelle, New
York, pleaded guilty to one count of obstruction of justice concerning, among other things, his
business dealings with Singhal. Brown’s sentencing has not been scheduled. On January 8,
2010, Melissa A. Mahler, an attorney from Rochester, New York, pleaded guilty to one count of
making a false statement. Mahler’s sentencing has not been scheduled. As part of their plea
agreements, Fisher, Brown and Mahler have agreed to cooperate in the investigation.
An indictment is merely an allegation that a defendant has committed a violation of
criminal law and is not evidence of guilt. Every defendant is presumed innocent until, and unless,
proven guilty in a court of law.
In announcing Fisher’s guilty plea, Acting U.S. Attorney Okun and Assistant Director
McJunkin praised the investigative efforts of Special Agents of the FBI’s Washington Field
Office. They also recognized the efforts of U.S. Attorney’s Office Paralegal Specialists Tasha
Harris, Sarah Reis and Mary Treanor, Forensic Accountant Crystal Boodoo, Legal Assistants
Jared Forney and Krishawn Graham, and Special Assistant U.S. Attorney Keshia Ellis. They also
commended the efforts of Assistant U.S. Attorneys Vasu B. Muthyala and Michael K. Atkinson,
who are prosecuting the case.
11-69
###
http://legaltimes.typepad.com/files/fisher_plea.pdf
Retired Texas Lawyer Pleads Guilty to Obstruction Charge
February 22, 2011
http://legaltimes.typepad.com/blt/2011/02/retired-texas-lawyer-pleads-guilty-to-obstruction-charge.html
A 70-year-old retired lawyer in Texas who ran an oil and gas services company pleaded guilty today in Washington federal court to obstruction of justice in a securities fraud investigation.
Franklin Fisher, Jr., the former chief executive officer of Houston-based Aztec Oil & Gas, faces up to 10 year in prison on the charge, the U.S. Attorney’s Office for the District of Columbia said. Fisher, who agreed to cooperate, will forfeit $390,000. Fisher’s sentencing, in front of Chief Judge Royce Lamberth of the U.S. District Court for the District of Columbia, has not been scheduled.
Fisher, whose lawyers include Steptoe & Johnson litigation partner Reid Weingarten, is the third lawyer to plead guilty in the ongoing securities fraud investigation. Robert Brown, a former name partner in New York’s Brown & Rosenblatt (now Reitler Kailas & Rosenblatt) pleaded guilty in November 2009 to one count of obstruction of justice. Melissa Mahler, a former Nixon Peabody lawyer, pleaded guilty in January 2010 to one count of making a false statement.
The charge against Fisher stems from his involvement in an investor newsletter that prosecutors said contained false and misleading disclaimers. Fisher, Aztec’s CEO and chairman from June 2007 to February 2010, and Shelly Singhal, a securities broker from Newport Beach, Calif., helped pay for newsletters that recommended investors purchase Aztec shares.
Prosecutors said the newsletters did not comply with securities regulations. Fisher, according to the government, knowingly concealed the source of funding for the newsletters during interviews with FBI agents. More on the case, from the U.S. Attorney's Office, here. Assistant U.S. Attorneys Vasu Muthyala and Michael Atkinson are prosecuting the obstruction charge against Fisher.
Singhal, represented by Morgan, Lewis & Bockius, was indicted in Washington federal district court last April on charges he participated in a conspiracy to defraud investors through a stock manipulation scheme that involved artificially increasing the demand for shares for companies that included Aztec. Singhal has pleaded not guilty.
Steptoe's Weingarten, a lawyer for Fisher, was not immediately reached for comment Tuesday evening.
http://legaltimes.typepad.com/blt/2011/02/retired-texas-lawyer-pleads-guilty-to-obstruction-charge.html
THis is a stock where the management is getting rich drilling wells for the parterships. The investors will never make money because the wells start out at 3 bbls day and are down to 1/2 bbls in no time. Pure promotional deal here. The brokers selling the partnerships and management make all of the cash. I have no clue as to who the brokers are selling this hype, does anyone know how to get in touch with these brokers. I would like to see how these deals are structured.
When will they be issuing the rest of the Authorized?
I think this slid under the radar, if the right volume came in it should be very positive. I guess they want to wait to see what the wells do.
You know, I am not sure.
Now this seems like pretty great news but zero stock movement. ??
Who is the partner and who is the lender?
let the fun begin!
Aztec Announces Closing of Final 2010 Partnership
HOUSTON, TX February 15, 2011 -- Aztec Oil & Gas, Inc. (Pink Sheets: AZGS – News) announced today that, on December 30, 2010, it closed a partnership under its Aztec XI Oil & Gas Drilling Program, which XI Program was opened on September 1, 2010.
The partnership, “Aztec XI-B Oil & Gas LP,” closed with approximately $10,000,000 of funding and is focused on drilling shallow wells for oil in Texas. Aztec’s wholly-owned subsidiary, Aztec Energy, LLC, will gain a thirty percent (30%) ownership interest in the Partnership by contribution, 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 operator. It is anticipated that the partnership will participate in 90 to 100 wells, most, or all, of which will be in Texas.
“Aztec is very pleased about the support we have been afforded. We are contracting, drilling and completing lots of wells, and their results are proving our business plan to be most timely and effective. Many of the larger firms are just now moving their focus to oil, and we did that in late 2008 in order to protect Aztec and its investors,” stated Waylan R. Johnson, President, 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 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 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 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
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group, Inc. are solely responsible for the accuracy of such news releases.
Chart is asking the same questions. I'm interested in the story here but needs structure and optimism to back a solid plan to get any mileage here IMO.
They ARE sitting on a nice stash of cash, wonder what they plan on doing with it. Perhaps there could be a good buy in opp for a flip soon since the share count is still low.
Seems like the $600,000 G/A is the problem. Any opinions on the passing of the torch. Cash position is strong.
looks like that is why the stock is dropping.
Does not look good...
$600,000 quarter in G & A, losing over $600,000 per quarter, how do they stay in business? LOL
I agree most wells are deeper and there are more costs associated in Texas but honestly I haven't had time to really evaluated this opportunity as much as I would like.
they do if they were drilled in Texas, Texas has high operating and drilling costs compared to other places in the country.
That alone doesn't mean to me that they will never payout. We have wells that produce around a barrel a day and it is economical based on the project. However I agree that doesn't give a lot of upside to a company like this. I am doing more DD on their potential for 2011 so haven't made up my complete opinion yet.
Aztec Announces Delay in Filing Year End Audit
HOUSTON, TX December 22, 2010 -- Aztec Oil & Gas, Inc. (Pink Sheets: AZGS – News) announced today that it will delay filing its audited financial statements for its most recent fiscal year end until approximately the second week of January 2011.
Waylan Johnson, President of Aztec Oil & Gas Inc., stated, “On October 14, 2010, we announced we had exceeded, by two months, our goal of 100 wells drilled or under short term drilling contracts for 2010. Obviously, we have now appreciably exceeded even that number of wells. That accelerated activity has meant significant additional materials and transactions to audit, compared to past fiscal years, and we simply underestimated the time required to do it thoroughly. Additionally, all the new wells in various stages of production, drilling or completion added additional complexity to the reserve calculation process. We are using very conservative reserve numbers for reporting purposes, as the vast majority of these wells are very young in their production lives, and that also took considerably more time than we previously allotted. We are going to experience only a short delay in filing the audited reports; however, we are diligently working to assure their accuracy and compliance.”
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; however, when it offers drilling/production partnerships, Aztec focuses primarily on shallow, Texas, low risk, development wells. When offered, those programs/partnerships are placed 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 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 for oil and gas, primarily in Texas.
Since 2008, Aztec has focused most of its drilling partnerships on oil wells in Texas. In addition to its initial three small Appalachian drilling partnerships mentioned above, Aztec has, intermittently, sponsored and closed seven other drilling/production partnerships (all of the latter focused on drilling 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 turnkey drilling contractor and operator for such partnerships. Through its own 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 sold 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 and Aztec activities have 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. 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. (x)
Contact:
Phoenix IR Associates
Investor Relations
Tony Drake
(281) 579-1602
Shareholders@AztecOG.com
Texas Railroad Commission or Drillinginfo.com
Where do you find the records of production?
wells are duds. Already down to less than a bbl day. Will never payout.
I think AZGS has a lot of potential here. 2011 should be a solid year for them.
Progessing slowly
Nice always a good combo! I'm at the office already going through some due diligence for next week :)
chillin by the fireplace with some pizza...wishing OTC was 24-7
Yeppers, just finished dinner #2 at the girlfriends parents :) How about you?
did you have a good thanksgiving?
There will not be a significant increase in share price drilling wells that make 2 bbls day when they are only a month old. They will be 1/2 BOPD in a few months. They will never pay out. The only people making the money are the ones charging management fees. That will come to an end when the bills are more than income.
this has been a great day for the energy plays.
I expect to see a significant move from the the base that has been forming in this range. Today's announcement is another good example of growth and development and this value should be realized in 2010.
HOUSTON, Nov. 18, 2010 (GLOBE NEWSWIRE) -- Aztec Oil & Gas, Inc. (Pink Sheets:AZGS) announced today that, on November 15th, it closed a partnership under its Aztec XI Oil & Gas Drilling Program, which XI Program was opened approximately 75 days ago on September 1, 2010. The partnership, "Aztec XI-A Oil & Gas LP", closed with approximately $5,047,000 of funding and is focused on drilling shallow wells for oil in Texas. Aztec's wholly-owned subsidiary, Aztec Energy, LLC, will gain a thirty percent (30%) ownership interest in the Partnership by contribution, and will act as the Managing General Partner. Aztec Drilling & Operating, LLC, another wholly-owned Aztec subsidiary, will serve as the Partnership's turnkey drilling contractor and operator. It is anticipated that the partnership will participate in 30 to 70 wells, most, or all, of which will be in Texas. Aztec presently has approximately six drilling rigs active in Texas and has been achieving over a 90% success ratio.
"We project that Aztec will continue to have very nice results for 2010 and 2011, and will continue to grow and become more well known within the national Broker Dealer community whenever it may offer its Programs," stated Waylan R. Johnson, President, 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; however, when it offers drilling/production partnerships, Aztec focuses on shallow, Texas, low risk, development wells. When offered, those programs/partnerships are placed 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 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 for oil and gas, primarily in Texas.
Since 2008, Aztec has focused most of its drilling partnerships on oil wells in Texas. In addition to its initial three small Appalachian drilling partnerships mentioned above, Aztec has, intermittently, sponsored and closed seven other drilling/production partnerships (all of the latter focused on drilling 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 turnkey drilling contractor and operator for such partnerships. Through its own contributions, Aztec owns a 30% interest in all of its drilling/production partnerships. In general clarification of its activities, in addition to 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 sold 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.
Agreed the potential is big here. Nice news today this is quite a nice frequency of new wells come on line.
another undervalued stock here, all you have to do is follow what the company has going on.
I am excited to see the continued developments. Revenues seem to be improving year over year and they were last scene to have good cash to continue drilling & may be acquisitions.
Aztec Announces Successful Completion of 22nd Olmos Well in
Medina County, Texas
HOUSTON, TX November 1, 2010 – Aztec Oil & Gas, Inc. (Pink Sheets: AZGS) announced the successful completion of its 22nd Olmos formation oil well in Medina County. As stated in Aztec’s press release, dated May 24, 2010, Aztec continues drilling multiple wells under a farmout agreement with Texas Secondary (one of the largest producers of the Olmos formation in Medina County).
“We are benefiting from the newest technology in fracing Olmos wells while using the proven analytical process of full body coring. Additionally, we are also exploiting the Austin Chalk in the area with the objective of gathering detailed information to develop highly efficient and productive frac jobs for that formation as well. Being able to drill several hundred wells in a dedicated area allows us to control and manage cost and risk,” stated Waylan Johnson, President of Aztec Oil & Gas.
Mr. Johnson went on to say, “When you can drill shallow, vertical oil wells in and around hundreds of wells that have been producing for 20-40 years, your predictability is very good. Controlling cost and having good data regarding the levels of saturation, and oil in place, for the formation stratas has allowed Aztec to achieve nice successes for itself and its partners. We anticipate that trend continuing as we have a significant number of proven drillsites available in the area.”
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; however for its drilling/production partnerships, Aztec focuses on shallow, Texas, low risk, development wells. When offered, the Aztec programs/partnerships are placed with accredited investors by FINRA registered Broker Dealers and Registered Investment Advisors 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. It did so in order to become fully familiar with the nuances of the sponsored drilling program industry before expanding its sponsored drilling program activities to the Company's full capabilities. In the summer of 2008, Aztec publicly announced it was discontinuing any sponsored natural gas drilling in Appalachia, and was ready to substantially expand its sponsored drilling program activities for oil and gas, primarily in Texas.
Since December 2008, Aztec has focused most of its drilling on oil wells in Texas. In addition to its initial three small Appalachian drilling partnerships mentioned above, Aztec has, intermittently, sponsored and closed six other drilling/production partnerships (all of the latter focused on drilling 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 turnkey drilling contractor and operator for such partnerships. Through its own contributions, Aztec owns a 30% interest in all of its drilling/production partnerships. In general clarification of its activities, in addition to direct corporate participations in industry partner wells, Aztec sometimes sponsors low risk, development drilling/production programs/partnerships which include significant tax benefits, all of which are sold through FINRA Registered Broker Dealers and Registered Investment Advisors to Accredited Investors. Aztec’s sponsored drilling/production programs 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, 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 as a prediction of actual results. Also, Aztec Oil & Gas, Inc., its officers, principals, employees, affiliates and consultants, and the other parties, investors, shareholders, partnerships and partners involved in any properties and programs, have conflicts of interests. The price received for the oil and natural gas produced from any investments, activities or properties may be less than quoted NYMEX prices at any given time. 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. (xi)
Contact:
Phoenix IR Associates
Investor Relations
Tony Drake
(281) 579-1602
Shareholders@AztecOG.com
Nice shake today, anybody adding shares in this range?
Followers
|
12
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
203
|
Created
|
02/27/05
|
Type
|
Free
|
Moderators |
Market Value1 | $7,340,353 | a/o May 09, 2011 |
Shares Outstanding | 36,886,194 | a/o Jan 21, 2011 |
Float | 17,945,494 | a/o Jan 21, 2011 |
Authorized Shares | 100,000,000 | a/o Aug 31, 2010 |
Par Value | 0.001 |
Shareholders of Record | 50 | a/o Jan 21, 2011 |
Aztec Oil & Gas, Inc. is a publicly traded (AZGS), fully reporting Houston, Texas based oil & gas exploration and production company. The company is taking advantage of numerous opportunities that are proving to possess significant present value and high future potential.
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |