SOURCE: Topaz Resources, Inc.

Topaz Resources, Inc.

August 18, 2010 11:44 ET

Topaz Resources Updates Drilling of Barnett Well

DENTON, TX--(Marketwire - August 18, 2010) - Topaz Resources, Inc. (OTCBB: TOPZ) today reported on the status of drilling operations on its Barnett Shale well located in the "oil" leg of the Barnett shale formation in North Texas.

"We are pleased to report that drilling operations have passed the 6,000 foot level on this the first of three Barnett Wells as part of the Drilling Program we announced earlier this summer," stated Bob Lindsay, COO of Topaz Resources. "The well is planned to TD at 7,900 feet vertically in the Barnett Shale. Other shallower potential productive formations include the Strawn series and the Conglomerates. After reaching the planned TD depth, we will run a log and make the decision whether to complete it as a vertical well or to come up hole and kick it off as a horizontal well. This process has become common practice in the Barnett shale formation and enables us to achieve optimum results."

About Topaz Resources

Topaz Resources is an independent oil and gas company focusing on production, acquisitions and developmental drilling opportunities within proven producing areas of north, central and west Texas. The Company's website can be found at www.topazresourcesinc.com.

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with petroleum exploration and development stage exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Contact Information

  • Contact:
    Natalie Bannister
    Investor Relations
    573.631.2193
    Email Contact