Topaz Resources Reports Drilling and Log Results of Barnett Well
September 07 2010 - 4:00PM
Marketwired
Topaz Resources, Inc. (OTCBB: TOPZ) today reported the drilling and
log results of its Barnett Shale well located in the "oil" leg of
the Barnett shale formation in North Texas.
"The well was drilled to a total depth of 7,740 feet stopping at
the top of the Viola formation. The electronic logs have identified
a 600 foot section of Barnett Shale which includes a solid 400 foot
section in the Lower Barnett with porosity and permeability values
that indicate good productive capabilities," stated Bob Lindsay,
COO of Topaz Resources. "The logs also confirm good productive
characteristics from 6,775 feet to 6,785 feet, from 6,817 feet to
6,827 feet and from 6,881 feet to 6,888 feet in the shallower
Conglomerate, supporting the good oil and gas shows that were
encountered during drilling through these depths. In addition, oil
and gas shows during drilling and the logs indicate that we have
encountered a potential productive Marble Falls zone at 6,980 feet
to 7,160 feet. Based on these results, Topaz set casing and
cemented as a vertical well through the Barnett up to the shallower
Conglomerate and Marble Falls zones. We currently are designing a
completion program and are assessing the behind pipe production and
reserve potential in the Marble Falls and Conglomerate
formations."
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 Email
Contact
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