Edge Resources Inc.

Edge Resources Inc.

August 06, 2009 09:01 ET

Edge Resources Perforates All Four Wells and Increases Working Interest

CALGARY, ALBERTA--(Marketwire - Aug. 6, 2009) - Edge Resources Inc. (TSX VENTURE:EDE)(PINK SHEETS:GDMHF) ("Edge Resources" or the "Company") announces that, on completion of its recent four-well Edmonton Sands drilling program, all four wells have now been perforated. The perforating work was done in "batches" to further enhance operating efficiencies and the Company has identified several tie-in and production options for each well. The perforating of these four wells satisfied the earning commitment on each and the Company has now earned all four sections within the required timeframe.

Additionally, the company has successfully increased its working interest in one of the wells from 7.23% to over 32% through farm-in arrangements. Edge Resources is very pleased with the log results and will continue to seek increased working interests on all of the wells, where possible.

Brad Nichol, the Company's President and CEO said, "While we are very pleased to have successfully increased our working interest in one well, we are hopeful that we will be able to take advantage of this capital-constrained environment and pick up additional working interests in this same, or additional, wells."

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. The Company continues to aggressively seek additional "five-star" additions to its existing Edmonton Sands land-base, either through acquisitions or farm-in deals.

The Company expects to hydraulically fracture ("frac") and tie-in all wells at some point in the future. 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.

Nichol added, "We have satisfied all the earning commitments on this land and have no further obligations. These properties are some of the best quality Edmonton Sands properties in Alberta and we look forward to building on this recent success."

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