Aztek Energy Ltd.
TSX VENTURE : AZK

October 11, 2005 18:22 ET

Aztek Updates Activities

CALGARY, ALBERTA--(CCNMatthews - Oct. 11, 2005) - Aztek Energy Ltd. (TSX VENTURE:AZK) announces that, as operator, in the first half of 2005 it has drilled 3 wells (2.7 net wells) at two of its core properties. In Morinville, one gas well was drilled and tied-in to company owned infrastructure at a rate of 350 mcf/d. Aztek has a 100% working interest in this well. Drilling in the Provost area resulted in one dry hole and one gas well (70% net to Aztek). The gas well has been tied-in to the company's infrastructure and is awaiting additional surface equipment prior to the commencement of production. The well tested at a stabilized rate of 180 mcf/d (125 mcf/d net to the company). In addition, in that same period, the company carried out a 100% owned 3D seismic program on 7 1/2 sections of land in its Provost core area.

The seismic program resulted in the targeting of oil prospects on three sections of company owned lands. Aztek has surveyed six wells on the 3D seismic program and plans to carry out an initial three well drilling program. It is anticipated that the first well in this program will spud by the end of this week.

Aztek Energy Ltd. also announces Mr. Leigh Muir, Vice President of Production & Operations, has left the company and is pursuing other opportunities. Mr. Ray Hodgkinson, a professional engineer with over 28 years of experience working with several companies in the Western Canadian basin, most recently with a major oil & gas company, will be joining Aztek in the capacity of Vice President, Production & Engineering Operations.

Aztek Energy Ltd. is a Calgary-based oil and natural gas, exploration and production company with properties in Western Canada.

Common Shares Outstanding: 35,849,583

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Aztek Energy Ltd.
    Michael G. Muirhead
    (403) 265-1015
    or
    Aztek Energy Ltd.
    Randall A. C. Birks
    (403) 265-1015
    (403) 265-1019 (FAX)
    or
    Aztek Energy Ltd.
    Suite 1900, 633 - 6th Avenue S.W.
    Calgary, Alberta T2P 2Y5