Topaz Resources Commences Multi Well Drilling Program on Its North Texas Shallow Oil Project
December 03 2010 - 4:00PM
Marketwired
Topaz Resources, Inc. (OTCBB: TOPZ) today announced that it has
commenced the first phase of its multi well drilling program on its
North Texas shallow oil project, which comprises 543.69 acres with
a history of proved producing oil wells, located in Wichita County.
An analysis of logs indicates that the lease and acreage contain
at least 3 productive Cisco Sand horizons at depths of 500, 1,300
and 1,700 feet, with the majority of historical production coming
from the shallowest zone. Topaz has identified an initial 12
drilling locations. The first phase of this drilling program will
involve drilling three wells, each to a TD depth of 1700 feet.
After reaching the planned TD depth, Topaz will run logs and make
the decision whether to complete at one or more of the three
horizons.
Topaz expects to drill and complete these three wells during
December and January.
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: Natalie Bannister Investor Relations 573.631.2193
azureriviera@gmail.com
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