SOURCE: Topaz Resources, Inc.

Topaz Resources, Inc.

September 14, 2010 16:00 ET

Topaz Resources Signs Letter of Intent With RMJ to Partner in a Multi-Well Development Program

DENTON, TX--(Marketwire - September 14, 2010) -  Topaz Resources, Inc. (OTCBB: TOPZ) today announced that it has signed a Letter of Intent with RMJ, Inc. to partner in a Multi-Well Development Program. It is contemplated by Topaz and RMJ that this will include oil and natural gas wells in the Barnett formation and shallower formations such as the Conglomerate and Strawn. This is the first arrangement under the Partner Program announced by Topaz on July 8, 2010.

"We look forward to participating in such a prolific play as the Barnett Shale," commented Eric Moe, CEO of RMJ, "and to partnering with a seasoned team of oil and gas professionals."

"We have had very good experiences in previous arrangements with the RMJ management team," added Ted Munden, CEO of Topaz Resources, "and we look forward to working together to build strong shareholder value for both companies."

The transaction is scheduled to close in September.

About RMJ

RMJ is a private independent oil and gas (E&P) company engaged in the exploration, development and production of oil and gas in Texas, Oklahoma and California.

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