Diaz Resources Ltd.
TSX VENTURE : DZR

Diaz Resources Ltd.

August 02, 2011 09:44 ET

Diaz Cases First Well in Lloydminster Heavy Oil Development Program

CALGARY, ALBERTA--(Marketwire - Aug. 2, 2011) - Diaz Resources Ltd. (TSX VENTURE:DZR) announces today that it has successfully drilled and cased the Lloyd HZ 105/15-18-48-1W4 well. This is the first of four horizontal Lloydminster heavy oil wells which Diaz plans to drill in the 3rd quarter of 2011.

The Lloyd HZ 105/15-18-48-1W4 well encountered 709 meters of oil saturated porous sand in the Lloydminster zone. Based on geological samples, the reservoir section encountered in this well appears to be of higher quality than the existing offset Lloyd HZ 100/15-18-48-1W4 well, which has produced over 18,000 barrels of oil, to date.

The second well, in the current Lloydminster drilling program, Lloyd HZ 106/15-18-48-1W4, began drilling on July 30, 2011. Both wells are anticipated to be on production in approximately 2 weeks time, after the drilling rig has moved off the production lease site.

Diaz is an oil and gas exploration and production company based in Calgary, Alberta. Diaz's current focus is on oil development and exploration in Alberta and Saskatchewan.

ADVISORY: This press release contains forward looking statements. Although Diaz believes that the expectations reflected in these forward looking statements are reasonable, undue reliance should not be placed on them because Diaz can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties.

The forward looking statements contained in this press release are made as of the date hereof and Diaz undertakes no obligations to update publicly or revise any forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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