SOURCE: Topaz Resources, Inc.

Topaz Resources, Inc.

October 20, 2010 16:00 ET

Topaz Resources to Acquire Barnett Lease & Well

DENTON, TX--(Marketwire - October 20, 2010) -  Topaz Resources, Inc. (OTCBB: TOPZ) today announced that it is in the process of acquiring a lease for 85 acres in the Barnett Shale field in Denton County, Texas, plus a 45.4% working interest in a horizontal Barnett gas well in that acreage. This is the first transaction of the Well Partner Program announced by Topaz on August 31, 2010.

The Barnett has become one of the biggest natural gas plays and drilling booms in the continental United States and the largest producing gas field in Texas. The Barnett is located within approximately 15 counties immediately northwest and west of Dallas, Texas. Improved completion techniques have allowed operators to more than double daily production in the Barnett since 2006 to about 4 billion cubic feet ("Bcf") per day from over 6,000 Barnett wells. The drilling activity is intense with ±70 rigs running in the area. The play has drawn attention from small/fledgling participants to some of the nation's largest public energy companies.

The sale 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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