April 15, 2010 (FinancialWire) — Aztec Oil & Gas, Inc. (OTC: AZGS) spudded 23 wells by March 31, 2010 to facilitate completion of three of its present drilling partnerships. It is estimated that these 23 spudded wells will complete drilling and be brought into production over the next approximately 60 to 90 days, weather permitting.

Each of the latest three Aztec drilling partnerships, which were closed in the latter part of 2009, will participate in 46 wells, which are either already producing, drilled, completed or spudded. Aztec presently has five rigs running in five different Texas counties and is negotiating for additional rigs.

Aztec is an oil and gas exploration, development and production company focusing on Texas and numerous areas throughout the U.S.

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. Aztec's personnel were, and are, experienced in oil and gas exploration and production in many parts of the U.S., including Texas; however, 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, and that it was ready to substantially expand its sponsored drilling program activities, primarily in Texas.

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) website (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

[frlylrf] [olgssglo] [bsnnssb] [exxpndgbsns]

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.