Topaz Resources to Add More Oil Properties to Its Portfolio
20 Setembro 2010 - 3:47PM
Marketwired
Topaz Resources, Inc. (OTCBB: TOPZ) today announced that it plans
to add oil properties in the north and west Texas regions as part
of its strategy to develop a balanced portfolio of oil and gas
properties and to take advantage of the continuing high price of
oil.
The U.S. Energy Information Administration Short-Term Outlook
released September 8, 2010 has forecasted that prices for West
Texas Intermediate oil, which is the price for the sale of oil
produced by Topaz, will increase to a range of $80 to $85 per
barrel during 2011.
"Given that oil prices are expected to remain high and therefore
very profitable for many years, it is a key part of our strategy to
add and develop both shallow and deeper oil properties,
particularly with multiple available formations, in our regions of
expertise in north and west Texas," commented Ted Munden, President
and CEO of Topaz.
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
Topaz Resources (CE) (USOTC:TOPZ)
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