U.S.
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of
Report (Date of Earliest Event Reported): January 19, 2010 (January 14,
2010)
AZTEC
OIL & GAS, INC.
(Exact
Name of Registrant as Specified in Charter)
Nevada
(State or
Other Jurisdiction of
Incorporation
or Organization)
|
000-32015
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87-0439834
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|||
|
(Commission
File Number)
|
(I.R.S.
Employer Identification No.)
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Aztec
Oil & Gas, Inc.
One
Riverway, Suite 1700
Houston,
Texas 77056
(Address
of principal executive offices including zip code)
(713)
840-6444
(Registrant’s
telephone number, including area code)
ITEM
8.01 - Other Events
On
January 14, 2010 Aztec Oil & Gas, Inc. announced the closing of its
most recent drilling partnership.
SIGNATURES
Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly
authorized.
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AZTEC
OIL & GAS, INC.
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|
|
Date:
January 19, 2010
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By: //s//
Franklin C. Fisher, Jr.
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|
Franklin
C. Fisher, CEO and Chairman
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Aztec
Announces Closing of Most Recent Drilling Partnership
HOUSTON, Tx January 14, 2010 -- Aztec Oil &
Gas, Inc. (Pink Sheets: AZGS – News) announced today the closing, on December
31, of its most recent partnership under its Aztec X Oil & Gas Drilling
Program. The partnership, “Aztec XA Oil & Gas LP”, closed with approximately
$3,785,000 of funding and will focus on shallow oil drilling in Texas. Aztec Oil
& Gas, Inc., through its wholly-owned subsidiary, Aztec Energy, LLC, will
retain thirty percent (30%) ownership and will act as the Managing General
Partner. Another wholly-owned subsidiary, Aztec Drilling & Operating, LLC,
will serve as the Partnership's drilling company and operator.
“In the
last 9 months of 2009, Aztec has raised approximately $7 million for its
drilling partnerships in a very tough economic environment. Closing out 2009
with the largest Aztec partnership to date gives us great confidence that the
broker dealer community is not only recognizing and accepting the Aztec business
model, but is getting behind it with their financial support. We are seeing this
momentum grow with more broker dealers signing on each month, and we are most
appreciative of their vote of confidence,” stated Waylan R. Johnson, President,
Aztec Oil & Gas, Inc.
About
Aztec Oil & Gas, Inc.
Aztec is
an oil and gas exploration, development and production company focusing on Texas
and numerous areas throughout the U.S. Its interests are highly diversified as
exemplified by its corporate participation in two Deep Lake wells in Cameron
Parish, Louisiana ranging from 13,600 feet to 14,300 feet in depth versus its
corporate participation in three shallow gas wells in Oklahoma of which two are
conventional wells, and the third is a horizontal, Coal Bed Methane (CBM)
well.
In 2006
Aztec entered the sponsored drilling program industry and undertook three small,
very limited annual drilling partnerships in Appalachia. Drilling in Appalachia
was recommended to Aztec by several broker dealers and a wholesaler, supposedly,
because many broker dealers were familiar with programs from the area. Aztec
intentionally limited its sponsored drilling programs over the subject three
years 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, due to what it felt was a questionable outlook for
shallow gas drilling in the Appalachian region; Aztec decided to discontinue any
natural gas drilling in Appalachia and announced such publicly at a subsequent
industry conference.
Aztec
focused all drilling in 2009 in Texas. In addition to the previous, initial
three existing small Appalachian drilling partnerships mentioned above; Aztec
recently sponsored and closed its VIII B and VIII C partnerships in 2009. The
seventh drilling partnership, Aztec X A Oil & Gas LP, referenced in the
above press release, will also focus on drilling in Texas. Aztec Energy LLC, a
wholly-owned subsidiary of Aztec, acts as Managing General Partner of all
drilling partnerships and another wholly-owned Aztec subsidiary, Aztec Drilling
& Operating, LLC, is the turnkey drilling contractor and operator. Aztec
owns a 30% interest in all of its drilling partnerships. In general
clarification of its activities, Aztec sponsors low risk, development drilling
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 drilling programs focus on shallow oil drilling, are very
unique and also incorporate a sophisticated exit strategy for
investors.
For
more information on Aztec Oil & Gas, Inc. please visit
http://www.AztecOG.com.
This
release/announcement is neither an offer to sell nor a solicitation of an offer
to buy securities or participations. 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/document, the Memorandum, or the Aztec website, including 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, the 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, the Memorandum, or the Aztec Website might
not occur. Accordingly, investors should not rely upon forward-looking
statements as a prediction of actual results. Also, the price Aztec Oil &
Gas, Inc. and the other parties involved in any properties receive for the oil
and natural gas produced on their properties may be less than quoted NYMEX
prices at any given time. Aztec does not undertake any obligation to update any
forward-looking statements, 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