Guildhall Minerals Ltd.

July 21, 2009 06:00 ET

Guildhall Minerals Ltd.: First Well Completed, Second Well Underway, Drilling Program Extended With Addition of Two New Wells

CALGARY, ALBERTA--(Marketwire - July 21, 2009) - Guildhall Minerals Ltd., Operating as Edge Resources (TSX VENTURE:EDE)(PINK SHEETS:GDMHF) ("Edge Resources" or the "Company"), is pleased to announce that it has completed drilling operations on the Company's first Edmonton Sand well. The well was drilled vertically, without any incidents, to a depth of 966 meters and encountered multiple zones within the Edmonton Sands group. The Company has utilized the same "Super-Single" Automatic Drilling Rig (ADR) which performed very well and has now moved to the second licensed location in this drilling program. Drilling has already commenced on the second well, which is anticipated to be completed by mid week.

Furthermore, the Company is pleased to announce that it has doubled the size of this drilling program through the addition of two Edmonton Sand locations. The additional wells are located in the highly prolific Willesden Green area of Alberta.

With this expanded program, the Company will seek to reduce the costs of this program even further by utilizing greater economies of scale, which these additional locations will allow. The Company is pleased that the same ADR and crew will be available to drill the additional locations.

The Company has quickly modified its completion program and now intends to perforate all four wells after the entire drilling program is completed, in a continued effort to extract more efficiency from its operations.

Commenting on the rig and crew used, Miles Johnson, VP Operations noted, "Having used this extensively in the past, we were very pleased with the ADR equipment and personnel. Likewise, we demonstrated our company's ability to turn on a dime when necessary to create additional shareholder value. Adding two wells on the end of our program as quickly as we did was no small job. Few, if any, companies could have reacted as quickly as we did, enabling us to take full advantage of the economies of scale that a program double the size of the original can offer."

Brad Nichol, President and CEO added, "The logs on the first well indicate slightly more net pay than we originally expected, indicating this well may be better than anticipated. Our technical team will continue to raise the bar within the prolific Edmonton Sands area with the extended drilling program."

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

Trading in the securities of Guildhall Minerals Ltd. 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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