CALGARY, ALBERTA — (Marketwire) — 09/12/11 — Edge Resources Inc. (“Edge” or the “Company”) (TSX VENTURE: EDE) reports that it released the drilling rig this past weekend after completing a successful six well drilling program. Additionally, a frac crew and equipment has been secured on a short-term window that will allow the Company to undertake a small hydraulic fracturing (“frac”) stimulation program.
The Company successfully drilled and cased six wells in the Willesden Green area of Alberta; thus completing the majority of the earning requirement to earn an additional six sections of land. Edge–s engineers and geologists will analyze the logs from the wells to determine the best multi- zone intervals within each well to perforate, which fulfills the earning requirement.
As is normal in the Edmonton Sands, each wellbore contains multiple channel sands, each of which contribute to production and recoverable reserves, when completed.
Additionally, a crew and equipment was secured for a short window to start a small frac program.
Edge combines coiled tubing with frac equipment to stimulate each specific zone, of the multiple zones that are identified and perforated, in a wellbore. This combination allows Edge to customize each individual frac for each individual zone in the wellbore.
Brad Nichol, President and CEO of Edge commented, “The Ensign ADR (Automatic Drilling Rig) and crew performed very well for us once again and we managed to get through the entire drilling program with only a handful of days waiting on weather. We expect to continue to accumulate land with the drill bit, on exceptional terms, during this low-priced natural gas environment while we simultaneously persist with our acquisition efforts, which we expect to result in additions to the land and production base in the near future.” Nichol added, “With the industry getting busier as we approach the winter season, I was pleased that we were able to utilize our industry connections to secure a frac crew and kick-off a stimulation program.”
About Edge Resources Inc.
Edge Resources is focused on the exploration, development and production of shallow oil and natural gas horizons, most prominently from the Edmonton Sands group of formations, a conventional, shallow gas group of reservoirs located in Central Alberta, Canada. The management team–s very high success rate is based on the safe, efficient deployment of capital and a proven ability to efficiently execute in shallow formations, which gives Edge Resources a sustainable, low-cost, competitive advantage.
The Alberta Government estimates that there is 44 trillion cubic feet (“TCF”) of non-producing, shallow natural gas in Alberta. Edge Resources– management team has evaluated over 20,000 sections of land and has identified over 200 “five-star” sections.
For more information, visit the company website: .
This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company–s registered filings which are available at .
This news release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.
Barrel (“bbl”) of oil equivalent (“boe”) amounts may be misleading particularly if used in isolation. All boe conversions in this report are calculated using a conversion of six thousand cubic feet of natural gas to one equivalent barrel of oil (6 mcf=1 bbl) and is based on an energy conversion method primarily applicable at the burner tip and does not represent a value equivalency at the well head.
Trading in the securities of Edge Resources Inc. should be considered highly speculative.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Edge Resources Inc.
Brad Nichol
President & Director
+1 (403) 767 9905
Edge Resources Inc.
Nathan Steinke
Chief Financial Officer
+1 (403) 767 9905