Topaz Commences Drilling Barnett Well
Topaz has commenced drilling its next well in the "oil" leg of the Barnett shale formation in North Texas.
"We are pleased to announce that we have started drilling the first of three Barnett Wells as part of the Drilling Program we announced earlier on June 22, 2010," stated Ted Munden, President and CEO of Topaz Resources. "Because we control when and where we want to drill and we control our own rigs and work crews, we have been able to expedite our time objectives and already have started spudding the well."
Over the past ten years, Topaz management collectively has assembled, drilled and sold over 10,000 Barnett lease acres in various separate drilling programs/ventures, with dollar values and yields approaching $100 million. To date, Topaz management have drilled or participated in over 250 Barnett wells.