SOURCE: Topaz Resources, Inc.

Topaz Resources, Inc.

October 19, 2010 06:00 ET

Topaz Resources in Advanced Negotiations to Acquire Oil Properties in North Texas

DENTON, TX--(Marketwire - October 19, 2010) -  Topaz Resources, Inc. (OTCBB: TOPZ) today announced that it is in advanced negotiations for a number of oil properties with development potential in multiple shallow and deeper formations in Wichita County and other areas of North Texas.

Adding oil properties in the north and west Texas regions is a key part of the Topaz strategy to develop a balanced portfolio of oil and gas properties and to take advantage of the continuing high price of oil. Over 20 years, Topaz management has drilled over 2100 oil wells in North Texas.

The first transaction is scheduled to close in October.

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

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.

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