Aztec Briefs 1Q Financial Results
Aztec announced released a summary of its financial results for the quarter and six months ending February 28, 2010. The Company has achieved significant improvement over the year end results of August 31, 2009. A quick summary of the filing shows that Total Assets increased by approximately 179% to $6,508,563, while Cash (as reported in Current Assets) increased approximately 277% to $3,339,088. On a related basis, Total Liabilities increased by only $156,267, or approximately 6.9%. All of the foregoing percentages are compared to the period for the fiscal year ending August 31, 2009, and all percentages are rounded to the nearest full number.
"2010 appears to be developing into quite a good year for Aztec with most, if not all, of our current and future drilling concentrated on the production of oil in the State of Texas. We have all worked very hard establishing Aztec's reputation for quality plus performance, and our drilling programs are gaining more popularity with broker dealers and investors. Also, while the natural gas market presently seems uncertain, in 2008 Aztec announced its intention to focus on oil drilling and the future of the oil market now looks very bright. As a result of all of the foregoing, Aztec and its drilling/production partnerships are projected to do very well in 2010," states Waylan R. Johnson, President of Aztec Oil & Gas.