Aztec Closes Funding for Most Recent Drilling Partnership
Aztec Oil & Gas announced the closing, on August 31, of its most recent partnership under its Aztec VIII Oil & Gas Drilling Program. The partnership, "Aztec VIIIC Oil & Gas LP", closed with approximately $1,750,000 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.
"The closing of this final partnership under the VIII Drilling Program means Aztec has raised approximately $4 million in drilling funding over the last five (5) months in a very difficult market. We are very pleased with those results in this present investment environment and the vote of confidence given Aztec. Our firm continues to grow and expand while many others are shrinking or going out of business; and, we feel all the hard work, attention to detail and performance is paying off for our firm and its investors," stated Waylan R. Johnson, President, Aztec Oil & Gas, Inc.