SOURCE: Topaz Resources, Inc.

Topaz Resources, Inc.

September 07, 2010 06:00 ET

Topaz Reports Natural Gas Prices Forecasted to Rise But Remain Relatively Attractive Compared to Oil Prices

DENTON, TX--(Marketwire - September 7, 2010) - Topaz Resources, Inc. (OTCBB: TOPZ), today reported that while natural gas prices are forecasted to rise, natural gas will remain attractive compared to the price of oil, according to the U.S. Energy Information Administration (EIA).

Industry forecasts supported by the Henry Hub Natural Gas Futures, which set the prices for the sale of natural gas produced by Topaz (see www.cmegroup.com/trading/energy/natural-gas/natural-gas.htm), predict that natural gas prices will climb to over $4.35 per Mcf this year and continue to a range of $4.40 to $5.26 per Mcf during 2011.

Regardless of increasing natural gas prices, the EIA's Annual Energy Outlook for 2010 predicts that the ratio of low sulfur light crude oil prices to Henry Hub natural gas prices on an energy equivalent basis will remain high.

This will make natural gas more attractive as a substitute for petroleum in some transportation uses and in GTL feedstock, which also will increase demand for and prices of natural gas, yet even with these increased prices, natural gas still will remain priced attractively compared to oil.

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
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