Edge Resources Inc.

Edge Resources Inc.

July 29, 2009 06:00 ET

Edge Completes Four Well Drilling Program & Name Change

CALGARY, ALBERTA--(Marketwire - July 29, 2009) - Edge Resources Inc., formerly Guildhall Minerals Ltd. (TSX VENTURE:EDE)(PINK SHEETS:GDMHF) ("Edge Resources" or the "Company") is pleased to announce that it has completed drilling the Company's third and fourth Edmonton Sands wells. Both wells were drilled vertically and conventionally without incident and encountered multiple zones within the Edmonton Sands group. The successful drilling of these four wells completes the entire current drilling program.

The entire program, which was doubled in size part-way through with the addition of two new locations, was completed under budget and ahead of schedule.

Hugh Loney, VP Geology, reported, "We are very pleased that the logs on all four wells exceeded our expectations. The nice thing about the Edmonton Sands is knowing we will have multiple zones in the wellbore, which eliminates a lot of the geological risk from the equation. When this team drills a well it means we have a high degree of confidence about finding the minimum number of zones; finding more zones in the well simply means more upside. We found more zones than expected in all four of these wellbores."

All four wells will be perforated within the next week and the Company expects to hydraulically fracture ("frac") and tie-in all wells in the future. These operations will be performed in "bulk" or "batches" to maximize operational efficiencies. The Company has investigated several tie-in options and is pleased that viable, existing infrastructure exists within very close proximity to all wells and management has confirmed availability through previous discussions with third parties.

Demonstrating aggressive pursuit of "five star" Edmonton Sands drilling locations, the Company recently doubled the size of this recent Edmonton Sands drilling program and continues to aggressively seek to acquire "five star" additions to its existing Edmonton Sands land-base, either through acquisitions or farm-in deals.

Brad Nichol, the Company's President and CEO commented, "This small program was a great start for our shareholders and allowed our team to showcase their talents. The program exceeded our expectations on many fronts - costs, timing and log results. Compared to the past, we have certainly seen a decrease in industry costs and with it, improvements in service quality. These lower costs combined with the recently announced government royalty incentives have significantly improved the economics in our arena. As such, I am excited about building on this early success and aggressively expanding on our current land-base through additional farm-ins or acquisitions."

The Company also has received final approval from the TSX Venture Exchange with respect to the Company's name change, from "Guildhall Minerals Ltd." to "Edge Resources Inc." Additionally, the Company has recently effected its previously announced continuance into the province of Alberta.

About the Company:

Edge Resources is focused on the development of natural gas 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 gas, specifically the Edmonton Sands, 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. The Company's development program focuses on pursuing only these highly prospective "five-star" Edmonton Sands prospects.

Brad Nichol, President & CEO

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 www.sedar.com.

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.

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