Diaz Resources Ltd.
TSX : DZR

Diaz Resources Ltd.

March 28, 2008 09:01 ET

Diaz Announces Casing the N.W. Speaks Robertson #1 Well, Lavaca County, Texas

CALGARY, ALBERTA--(Marketwire - March 28, 2008) - Diaz Resources Ltd. (TSX:DZR) announces that the N.W. Speaks Robertson #1 well, located in Lavaca County, Texas, was drilled to a total depth of 13,575 feet and production casing has been installed.

Diaz has a 21.5935% working interest in the N.W. Speaks Robertson #1 well.

Based on the Company's log analysis, the well has encountered several Wilcox gas zones, two of which were the primary objectives for the well and these two sands have been proven productive within the same structure.

Completion operations, of the first Wilcox gas zone, are anticipated to commence within 10 days. Diaz plans to construct production facilities prior to performing a fracture stimulation, which is planned for late April 2008.

Diaz is an oil and gas exploration and production company based in Calgary, Alberta. Diaz's current focus is on shallow gas developments in southern Alberta, natural gas exploration in central and southern Alberta and deep gas exploration in Texas.

ADVISORY: Certain information regarding the Company in this News Release including management's assessment of future plans and operations, drilling and completion plans and the timing thereof, may constitute forward-looking statements under applicable securities laws and necessarily involve risks including, without limitation, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, capital expenditure costs, including drilling, completion and facilities costs, unexpected decline rates in wells, wells not performing as expected, incorrect assessment of the value of acquisitions, failure to realize the anticipated benefits of acquisitions, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. Readers are cautioned that the foregoing list of factors is not exhausted. Additional information on these and other factors that could effect the Company's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) and at the Company's website (www.diazresources.com). Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

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

Contact Information

  • Diaz Resources Ltd.
    Robert W. Lamond
    Chairman
    (403) 269-9889
    (403) 269-9890 (FAX)
    or
    Diaz Resources Ltd.
    Donald K. Clark
    Chief Operating Officer
    (403) 269-9889
    (403) 269-9890 (FAX)
    Email: info@diazresources.com
    Website: www.diazresources.com