House & Home
House and Home
House and Home 
Tue, June 8, 2010
DENTON, TX--(Marketwire - June 8, 2010) - Topaz Resources, Inc. (
Topaz management, working collectively or in various combinations, have a track record of success in north, central and west Texas oil and gas ventures, and have formed Topaz to consolidate, acquire and develop targeted assets. Building on management's respective achievements and experiences, Topaz is poised to fully exploit the production potential and financial upside of Topaz's project inventory.
Topaz has accumulated an enviable lease position and experience level in drilling wells and advancing projects. Management has a "first hand" insight into the Barnett play and north-central-west Texas energy opportunities thereby creating a competitive advantage. Topaz is established in the area, with offices and a substantial rig yard in Denton, Texas. Topaz has the personnel and equipment to execute its plans and the experience to understand the risks and opportunities. Topaz management and personnel have a proven ability to get wells drilled and have good relationships with drilling and field service businesses in north-central-west Texas.
Topaz has executed a disciplined strategy (i) of accumulating lease acreage only within prime producing areas of north-central-west Texas, and (ii) of seeking financing partners to drill wells and generate proven reserves. Over the past ten years, Topaz management has assembled, drilled and sold over 10,000 Barnett lease acres in various separate drilling programs/ventures, with dollar values and yields approaching $100 million. Each program has been held privately, involving different partners. To date, Topaz management have drilled or participated in over 250 Barnett wells.
Ted Munden, President and CEO, commented, "Our goal is to aggressively pursue property and acreage acquisitions and oil and gas drilling opportunities in north, central and west Texas. This region is in our back-yard with a wealth of proven producing formations and is where our talented and experienced team has had success and has a clear competitive advantage."
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.
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.