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Frequently Asked Questions
Where are the corporate headquarters of Aztec Oil & Gas, Inc. ("AZGS")?
Aztec's Corporate Offices are in Houston, Texas and its operations offices are in Austin (Spicewood), Texas.
When did Aztec go public?
Aztec traded for many years as a communications firm (TV & Radio) and was converted to the oil & gas business in 2004. It was not a reverse merger.
What is Aztec's fiscal year end?
August 31 for financial reporting and tax purposes.
How is Aztec stock traded?
Aztec's Common shares are traded on the Current Information OTC Market Tier of the Pink Sheets under the symbol AZGS.PK. A quote may be accessed through Yahoo.com or any of the public quote forums.
How can I find out more about Aztec?
Go to the Aztec Website: AztecOil-Gas.com or the SEC.gov website.
Who is Aztec's stock transfer agent?
Standard Registrar & Transfer Company
Who is Aztec's auditor?
AZGS is audited by GBH, CPAs PC
Where can I get the latest corporate news releases?
Click here for latest news releases.
How can I view documents and financial reports Aztec has filed with the Securities & Exchange Commission (SEC) and Current Information OTC Market Tier?
Click here for recent Filings.
Who makes up the Aztec Executive Management team and Board of Directors?
Click here to see Aztec's Company Management.
Click here to see Aztec's Board of Directors.
How can I obtain further information or materials on Aztec?
Click here for AZGS Investor Relations contact information, or contact your broker dealer for information on Aztec or its activities.
Does Aztec sometimes sponsor drilling programs and if so, who do I contact?
When Aztec does sponsor private placement drilling programs, they are not publicly advertised and are only accessed for accredited investors through registered broker dealers who have Placement (selling) Agreements with Aztec. Contact your Broker Dealer. This website does not constitute an offer to sell or a solicitation of an offer to buy as such may only be made through the appropriate Private Placement Memorandums.
Oil & Gas Terms and Partnership Questions
What are various types of oil and gas interests?
Revenue Interest- The revenue interest (RI) is the total percentage of interests to be divided and paid from the production of oil and gas from a particular lease or wells. In other words, 8/8ths.
Net Revenue Interest- The net revenue interest (NRI) is often considered the percentage left after the royalty interest(s) have been deducted from the total revenue interest.
Royalty Interest- An interest normally retained by the mineral interest owner/lessor which incumbers production per the royalty clause of an oil and gas lease. The Royalty interest is compensation under the lease for production and is free from operating costs, but can be subject to various taxes and post production expenses. This interest is also known as a Landowner's Royalty or Lessor's Royalty.
Overriding Royalty Interest- A royalty interest reserved from lessee's lease hold interest. An Overriding Royalty is usually free from operating costs, but can be subject to various taxes and expenses.
Working Interest- The right to a mineral interest granted under an oil and gas lease. Working interest owners operate the lease and pay for the costs of drilling, completing and operating the well(s). The other designations for this interest are Leasehold interest or Operating Interest.
When production begins, what occurs for a partnership?
All well interests are paid by the oil/gas purchaser from production sale proceeds per the official Division Order. The operator collects the working interest portion of the payment and deducts lease operating costs and then forwards the net proceeds to the partnership. The Managing General Partner then deducts partnership expenses (if any) and makes partnership distributions to partners according to their specific ownership interest in the partnership.
What are the normal partnership payment schedules?
Monthly distributions normally start within approximately three months after the first well in a partnership starts selling production and continue monthly thereafter until all the wells are sold or all production ceases or becomes uneconomic.
Why do monthly partnership payments vary?
Many factors can affect payments. These can include, but are not limited to, market conditions, regulatory or contractual changes, diminished production, seasonal conditions and downtime, and daily, weekly or monthly commodity pricing variations.
For partnership investments, what kind of statement will I receive at the end of the year?
Partnership interest holders will have a K-1 statement mailed out to them on or before March 15 of each year from which they can report their federal income taxes for each year their partnership is active.
What happens when I sell my partnership interest or acquire an interest?
See transfer information in your Private Placement Memorandum.
What happens when a partnership owner dies?
See transfer information in your Private Placement Memorandum.
Whom do I contact with questions about my existing investment in an Aztec partnership?
Click here for AZGS Drilling Program Investor contact information or contact your broker dealer representative.
How can I contact Aztec Oil & Gas, Inc.?
Go to "Contact Us" on this website.
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