Topaz to Join Forces in Barnett Multi-Well Development Program
Topaz Resources has signed a Letter of Intent with RMJ to partner in a Multi-Well Development Program. It is contemplated by Topaz and RMJ that this will include oil and natural gas wells in the Barnett formation and shallower formations such as the Conglomerate and Strawn. This is the first arrangement under the Partner Program announced by Topaz on July 8, 2010.
"We look forward to participating in such a prolific play as the Barnett Shale," commented Eric Moe, CEO of RMJ, "and to partnering with a seasoned team of oil and gas professionals."
"We have had very good experiences in previous arrangements with the RMJ management team," added Ted Munden, CEO of Topaz Resources, "and we look forward to working together to build strong shareholder value for both companies."
The transaction is scheduled to close in September.
- Topaz In Talks to Acquire Tx. Oil Properties (Oct 19)
- Topaz to Join Forces in Barnett Multi-Well Development Program (Sep 15)
- Topaz Expands Partner Program (Jul 08)