SOURCE: Topaz Resources, Inc.

Topaz Resources, Inc.

November 29, 2010 06:00 ET

Topaz Resources to Acquire Barnett Combo Oil Properties in North Texas

DENTON, TX--(Marketwire - November 29, 2010) - Topaz Resources, Inc. (OTCBB: TOPZ) today announced that it is in the process of consolidating approximately 750 net acres in the oil leg of the Barnett Shale in Montague County in North Texas.

This oil leg often is referred to as the Barnett Combo shale oil play, which refers to the presence of both oil and natural gas in certain parts of the Barnett shale formation in the Fort Worth basin, particularly the north side of the Barnett shale in Montague and Cooke counties. Potential reserves for the Barnett Combo play in Montague and Cooke counties are estimated to exceed 70 million barrels of oil and 175 billion cubic feet of natural gas per square mile, including over 280,000 barrels per well.

Like other unconventional oil plays such as the Bakken shale in North Dakota, the Barnett Combo is in the spotlight as prices for oil continue to remain high and therefore very attractive.

This transaction is scheduled to close in December.

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.

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