Welcome!

News Feed Item

Aztec Announces New President to Replace Interim President

HOUSTON, March 17, 2014 /PRNewswire/ -- Aztec Oil & Gas, Inc. (Pink Sheets: AZGS) ("Aztec") announced today that Mr. Jeremy G. Driver has been elected President of the Corporation, effective March 17, 2014, to replace Mr. Fred Zeidman who has been serving as Interim President subsequent to the termination of the previous President by Aztec's Board.

Mr. Driver has extensive experience in the oil and natural gas business. He served as President of HYD Resources Corporation, a domestic subsidiary of a public oil firm from 2005-2008, and then as CEO, President and Director of Duma Energy Corporation, a public oil and gas firm, from 2009 to 2014. Mr. Driver has an undergraduate degree from Excelsior College and an MBA and MSA from Northeastern University.

Aztec wishes to take this opportunity to welcome Mr. Driver as President and to express its appreciation to Mr. Fred Zeidman for serving as Interim President of Aztec while the Board of Directors conducted its search for a new President.

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, such 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 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 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 focused almost all of its sponsored drilling/production partnerships on oil wells in Texas when the programs are offered.  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. 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 development drilling/rework/production programs/partnerships which include significant tax benefits. When sponsored, such programs/partnerships 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. Aztec presently has interests in approximately 400 wells.

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
[email protected]

SOURCE Aztec Oil & Gas, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Sometimes I write a blog just to formulate and organize a point of view, and I think it’s time that I pull together the bounty of excellent information about Machine Learning. This is a topic with which business leaders must become comfortable, especially tomorrow’s business leaders (tip for my next semester University of San Francisco business students!). Machine learning is a key capability that will help organizations drive optimization and monetization opportunities, and there have been some...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, provided a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to oper...
While some developers care passionately about how data centers and clouds are architected, for most, it is only the end result that matters. To the majority of companies, technology exists to solve a business problem, and only delivers value when it is solving that problem. 2017 brings the mainstream adoption of containers for production workloads. In his session at 21st Cloud Expo, Ben McCormack, VP of Operations at Evernote, discussed how data centers of the future will be managed, how the p...
"Storpool does only block-level storage so we do one thing extremely well. The growth in data is what drives the move to software-defined technologies in general and software-defined storage," explained Boyan Ivanov, CEO and co-founder at StorPool, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
ChatOps is an emerging topic that has led to the wide availability of integrations between group chat and various other tools/platforms. Currently, HipChat is an extremely powerful collaboration platform due to the various ChatOps integrations that are available. However, DevOps automation can involve orchestration and complex workflows. In his session at @DevOpsSummit at 20th Cloud Expo, Himanshu Chhetri, CTO at Addteq, will cover practical examples and use cases such as self-provisioning infra...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory? In her Day 2 Keynote at @DevOpsSummit at 21st Cloud Expo, Aruna Ravichandran, VP, DevOps Solutions Marketing, CA Technologies, was jo...
As Marc Andreessen says software is eating the world. Everything is rapidly moving toward being software-defined – from our phones and cars through our washing machines to the datacenter. However, there are larger challenges when implementing software defined on a larger scale - when building software defined infrastructure. In his session at 16th Cloud Expo, Boyan Ivanov, CEO of StorPool, provided some practical insights on what, how and why when implementing "software-defined" in the datacent...
Blockchain. A day doesn’t seem to go by without seeing articles and discussions about the technology. According to PwC executive Seamus Cushley, approximately $1.4B has been invested in blockchain just last year. In Gartner’s recent hype cycle for emerging technologies, blockchain is approaching the peak. It is considered by Gartner as one of the ‘Key platform-enabling technologies to track.’ While there is a lot of ‘hype vs reality’ discussions going on, there is no arguing that blockchain is b...
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across business networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost as well as advance trade. Are you curious about how Blockchain is built for business? In her session at 21st Cloud Expo, René Bostic, Technical VP of the IBM Cloud Unit in North America, discussed the b...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
Is advanced scheduling in Kubernetes achievable?Yes, however, how do you properly accommodate every real-life scenario that a Kubernetes user might encounter? How do you leverage advanced scheduling techniques to shape and describe each scenario in easy-to-use rules and configurations? In his session at @DevOpsSummit at 21st Cloud Expo, Oleg Chunikhin, CTO at Kublr, answered these questions and demonstrated techniques for implementing advanced scheduling. For example, using spot instances and co...
The use of containers by developers -- and now increasingly IT operators -- has grown from infatuation to deep and abiding love. But as with any long-term affair, the honeymoon soon leads to needing to live well together ... and maybe even getting some relationship help along the way. And so it goes with container orchestration and automation solutions, which are rapidly emerging as the means to maintain the bliss between rapid container adoption and broad container use among multiple cloud host...
The cloud era has reached the stage where it is no longer a question of whether a company should migrate, but when. Enterprises have embraced the outsourcing of where their various applications are stored and who manages them, saving significant investment along the way. Plus, the cloud has become a defining competitive edge. Companies that fail to successfully adapt risk failure. The media, of course, continues to extol the virtues of the cloud, including how easy it is to get there. Migrating...
Imagine if you will, a retail floor so densely packed with sensors that they can pick up the movements of insects scurrying across a store aisle. Or a component of a piece of factory equipment so well-instrumented that its digital twin provides resolution down to the micrometer.