Topaz Provides Corporate Update
09 October 2010 - 7:00AM
Marketwired
Topaz Resources, Inc. (OTCBB: TOPZ) is pleased to provide an update
on the Company's business and operations. Since trading commenced
on the Bulletin Board, Topaz has started consolidating the oil and
gas properties held by affiliates into Topaz, and assembled a
management team with a wealth of experience in building oil &
gas companies in north, west and central Texas.
Notably, the Company has completed drilling operations on its
first Barnett oil well to a total depth of 7740 feet, for which
logs show good potential production in three formations. Topaz also
initiated a Partner Program and signed definitive agreements with
their first partner for a multi-well development program. Most
recently, Topaz has identified a significant portfolio of potential
new projects and acquisitions and has begun due diligence.
Edward J. Munden, the Chief Executive Officer of Topaz
Resources, stated, "We are very pleased with our progress towards
achieving our first year operational objectives. As our 2010
program matures over the next three months, we will build on these
successes. We intend to complete the consolidation of affiliate
owned properties, acquire oil and gas property, and commence well
workover and drilling programs."
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. Please read more about the Company and its projects 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: Natalie Bannister Investor Relations 573.631.2193
azureriviera@gmail.com
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