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): February 12, 2010 (February 9,
2010)
AZTEC
OIL & GAS, INC.
(Exact
Name of Registrant as Specified in Charter)
Nevada
(State or
Other Jurisdiction of
Incorporation
or Organization)
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000-32015
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87-0439834
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|||
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(Commission
File Number)
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(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
February 09, 2010 Aztec Oil & Gas, Inc. announced the successful Marble
Falls recompletion in Palo Pinto County, Tx.
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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|
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Date:
February 12, 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 Successful Marble Falls Recompletion in Palo Pinto County,
Texas
HOUSTON, February 9, 2010 --
Aztec Oil & Gas, Inc. (Pink Sheets: AZGS) previously announced the
successful drilling of the Ragle #3 well, which was initially test produced from
its deepest secondary target, the Ellenburger formation. The Ragle #3
has recently been re-completed in the Marble Falls formation and has stabilized
at daily rates of approximately 25 BOPD and 50 MCFPD and associated
water. This well has several additional formations up hole that will
be developed at a later date, once the Marble Falls formation has been depleted,
which is estimated to take several years.
The Ragle
#3 is the first of two wells that Aztec has drilled and completed successfully
with G&F Oil Company in the Palo Pinto County area of
Texas. “Being able to produce substantial quantities of
oil on a daily basis, as from the Ragle #3 well, keeps Aztec exactly on its
path of success with shallow, low risk developmental wells,” stated Aztec
President, Waylan Johnson.
Due to
the success of the two present Ragle wells, Aztec has contracted to drill two
wells on the Wharton and Stanley Projects, located in Palo Pinto and Jones
Counties respectively. Similar results to the Ragle wells are estimated, and
drilling will commence in the next several weeks.
“Aztec
feels it important to point out that after several years of severe drought,
almost the entire state of Texas has been inundated with record amounts of
rain. These rains are still occurring and have negatively delayed,
but not cancelled, Aztec’s drilling schedules. In spite of the rains,
flooding and mud, Aztec has been able to establish numerous drilling locations
in several counties located in areas of prolific shallow production, and get
some of its scheduled wells drilled, but not yet completed. Those
wells, and others, will soon be completed and put into production. At
the current commodity prices, being able to bring shallow, Texas, low risk
developmental wells, with multiple pay zones, to our niche of the Sponsored
Drilling Program industry has helped set Aztec apart from programs focusing on
riskier or deeper wells,” added Mr. Johnson.
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 direct 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.
Additional
to the foregoing, in 2006 Aztec entered the sponsored drilling program industry
and, over the next two and one half years, undertook three small, very limited
annual drilling partnerships in Appalachia. While Aztec’s personnel
were experienced in oil and gas exploration and production in many parts of the
US, including Texas, sponsored drilling program drilling in Appalachia was
recommended to Aztec by several broker dealers and a wholesaler. The
foregoing was, supposedly, because many broker dealers were more familiar with
sponsored drilling programs from the Appalachian area. Aztec
intentionally limited its sponsored drilling programs over the subject two and
one half 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 Aztec’s officers
felt was a questionable, future outlook for shallow, non-shale gas in the
Appalachian region; Aztec publicly announced it was discontinuing natural gas
drilling in Appalachia.
Aztec
focused all drilling in 2009 in Texas. In addition to the referenced,
initial three small Appalachian drilling partnerships; Aztec has sponsored and
closed its VIII A, VIII B and VIII C drilling partnerships. The
seventh drilling partnership, Aztec X A Oil & Gas LP, closed in December
2009, also focuses on drilling in Texas. Aztec Energy LLC, a
wholly-owned subsidiary of Aztec, acts as 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. 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 primarily 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