Wednesday, August 18, 2010

Topaz Resources, Inc. (TOPZ); Barnett shale Update

By Andrea:

Topaz Resources, Inc. (TOPZ) released an update on August 18, 2010 concerning their operations in the Barnett shale:

Topaz Resources, Inc. reported on the status of drilling operations on its Barnett Shale well located in the "oil" leg of the Barnett shale formation in North Texas.

"We are pleased to report that drilling operations have passed the 6,000 foot level on this the first of three Barnett Wells as part of the Drilling Program we announced earlier this summer," stated Bob Lindsay, COO of Topaz Resources. "The well is planned to TD at 7,900 feet vertically in the Barnett Shale. Other shallower potential productive formations include the Strawn series and the Conglomerates. After reaching the planned TD depth, we will run a log and make the decision whether to complete it as a vertical well or to come up hole and kick it off as a horizontal well. This process has become common practice in the Barnett shale formation and enables us to achieve optimum results."

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