Aztec Oil & Gas Inc. (OTCPK:AZGS) announced that it will raise $50,000,000 in funding on January 31, 2012. The company will issue limited partnership units in the transaction through Aztec XII-B Oil & Gas LP/Aztec Energy LLC pursuant to Regulation D. The company will accept a minimum investment of $50,000 from each investor. Michael Scavullo, Michael Woloshin, Jonathan Taylor, and Mark Rupp of J.P. Turner & Company, L.L.C., James Lockhart of Harbour Light Securities, Will R. Freeman of Wilbanks Securities, Inc., Charles Fischer and Steven Knowlton of IMS Securities, Inc., Scott L. Olson of Merrimac Corporate Securities, Inc., Damian Dering of Independent Financial Group, and Thomas W. Haarmann of Money Concepts Capital Corp. will serve as the placement agents to the company pursuant to the transaction and are entitled to receive a sales commission of $245,250. As on March 8, 2012, the company raised $1,850,000 from six investors. The company paid total sales commission of $166,500. As on April 18, 2012, the company raised $2,100,000 from 10 investors. The company paid total sales commission of $189,000. As on May 21, 2012, the company raised $2,500,000 from 18 investors. The company paid total sales commission of $225,000. As on June 4, 2012, the company raised $2,725,000 from 23 investors. The company paid total sales commission of $245,250.