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Topaz Resources Reports U.S. Shale Gas Should Play Large Role in Future U.S. Natural Gas Production

^{Published on 2010-06-30 10:11:49 - Market Wire}
 

DENTON, TX--(Marketwire - June 30, 2010) - Topaz Resources, Inc. (OTCBB: [ TOPZ ]), an independent oil and gas company ("Topaz" or the "Company"), today reported that U.S. onshore shale natural gas could potentially become a large portion of future U.S. gas production, with an assumed 347 Trillion cubic feet (Tcf) of technically recoverable shale gas, according to the U.S. Energy Information Administration's (EIA) Annual Energy Outlook for 2010.

A few years ago, most analysts anticipated a growing U.S. reliance on imported sources of gas, and significant investments were being made in regasification facilities for imports of liquefied natural gas, EIA said. That outlook has changed as a wave of exploration and production companies over the past five years have sought to explore for and produce U.S. shale gas, which has been touted as a clean-burning, secure energy source that can meet future U.S. energy demand.

Shale gas accounts for between 15-20 percent of total gas production in the U.S. That is expected to quadruple in coming years. It is expected to overtake both conventional gas as well as other liquid fuels as an energy source within the next decade.

Large independent oil and gas companies, like Devon Energy, Pioneer Natural Resources and EOG Resources, continue to successfully drill the Barnett shale play in North Texas, thanks to advances in horizontal drilling and hydraulic fracturing technology, a process in which a mixture of water and sand is injected into a formation at high pressure to fracture the formation and release gas trapped inside. These advances have been instrumental in making the Barnett shale one of the biggest natural gas plays and drilling booms in the continental United States and the largest producing gas field in Texas.

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. You may find the Company's website 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.