Topaz Resources Inc. (TOPZ)

[OilStockReport]

That was an intense amount of sell off yesterday on this split which is odd for this type of activity. I couldn't help but get some speculation shares expecting some sort of a bounce. (glad I did!)

Today's news has growth written on it and I am interested to see how this continues to make new developments.

DENTON, TX -- (MARKET WIRE) -- 11/16/10 -- Topaz Resources, Inc. (OTCBB: TOPZ) today announced that it has completed the first phase of the consolidation into Topaz of a North Texas shallow oil project by acquiring 4 producing oil wells located in Wichita County. Topaz intends to undertake a workover program on each of these 4 wells as the most cost efficient means of increasing production on these wells. The Company also intends to bring several additional wells back on-line through this workover program.

Of strategic importance, this acquisition includes 1 injection well, critical for this Topaz North Texas shallow oil project because it enables Topaz to dispose of the water generated from production of existing and new wells in an efficient and inexpensive manner, instead of paying 3rd parties to haul the water away.

The remaining consolidation of this Topaz North Texas shallow oil project is scheduled to be completed in November.

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.