Edge Resources Inc.

Edge Resources Inc.

September 09, 2009 06:00 ET

Edge Continues Expansion Plans With Acquisition of Additional Working Interest

CALGARY, ALBERTA--(Marketwire - Sept. 9, 2009) - Edge Resources Inc. (TSX VENTURE:EDE)(PINK SHEETS:GDMHF) ("Edge Resources" or the "Company") provides the following land position and corporate update.

Further to previous announcements, the Company is pleased to report that it has completed another transaction resulting in an increase in its net working interest on the Company's four recently drilled wells by a total of 55%. This brings the Company's gross acreage of high-quality Edmonton Sands properties to 11 sections.

The Company is the operator of record on all 11 sections, and aggressively seeks operatorship on everything it does. Operatorship, under the terms of the standard CAPL joint venture agreements, allows the Company to control all drilling, completion and tie-in operations, which allow it to continue building its exceptional track record using proprietary mapping, drilling, and completion techniques that optimize the results of the wells it drills.

The Company was very pleased by the formation evaluation results on these four wells and has been aggressively pursuing an increase to its working interest position since before these wells were drilled. These wells augmented the existing 7 gross sections of high quality, high working interest Edmonton Sands properties.

Brad Nichol, President of the Company added, "Our new Land Manager is quickly settling into his new role and I am very impressed by his early efforts, which have resulted in increases to our working interests in these four new sections. Moreover, I know that his work in this area is not complete and we are hopeful that he will be successful in increasing our current positions even more in the near future."

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.

Visit the company website for more information: www.edgeres.com.

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.

Contact Information

  • Edge Resources Inc.
    Brad Nichol
    President & CEO
    (403) 532-2411