February 10, 2010 (FinancialWire) — Aztec Oil & Gas, Inc. (OTC: AZGS) previously announced the successful drilling of the Ragle #3 well, which was initially test produced from its deepest secondary target, the Ellenburger formation.

The Ragle #3 has recently been re-completed in the Marble Falls formation and has stabilized at daily rates of approximately 25 BOPD and 50 MCFPD and associated water. This well has several additional formations up hole that will be developed at a later date, once the Marble Falls formation has been depleted, which is estimated to take several years.

The Ragle #3 is the first of two wells that Aztec has drilled and completed successfully with G&F Oil company in the Palo Pinto County area of Texas. “Being able to produce substantial quantities of oil on a daily basis, as from the Ragle #3 well, keeps Aztec exactly on its path of success with shallow, low risk developmental wells,” stated Aztec president, Waylan Johnson.

Due to the success of the two present Ragle wells, Aztec has contracted to drill two wells on the Wharton and Stanley Projects, located in Palo Pinto and Jones Counties respectively. Similar results to the Ragle wells are estimated, and drilling will commence in the next several weeks.

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

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