Edge Resources Inc.

Edge Resources Inc.

May 01, 2012 08:45 ET

Edge Resources Inc. Appoints New Vice President of Operations

CALGARY, ALBERTA--(Marketwire - May 1, 2012) - Edge Resources Inc. (TSX VENTURE:EDE) ("Edge" or the "Company") is pleased to announce that it has appointed Mr. Monty McNeil as the Company's Vice President of Operations, effective today.

Monty, a 28 year veteran of the industry, brings a solid history of operational and production management experience in the Western Canadian Sedimentary Basin. Of particular interest to Edge is Monty's significant experience in heavy, medium and light oil asset development in both Alberta and Saskatchewan. He has been fully accountable for the management and development of large teams, significant capital programs and substantial production volumes.

Monty began his career with Page Petroleum in the Dodsland, Saskatchewan Viking oil horizon. He joined Renaissance Energy in 1991 where he progressed from operations to senior technical leadership roles. At Renaissance he enhanced his project management skills through the optimization, construction and development of a multitude of facilities and fields. Monty also spearheaded Renaissance's power generation initiative. For the last 12 years, Monty enjoyed additional and progressive responsibilities with Renaissance's successor, Husky Energy. At Husky, Monty managed a multitude of core projects in Eastern Alberta and throughout Saskatchewan. In his final role as Development Coordinator, Monty lead a development engineering team responsible for a $50+ million annual capital program and 21,000 bbl/day of heavy oil production in the Lloydminster, Saskatchewan region.

Brad Nichol, President & CEO of Edge, commented, "Monty is exceptional and he will be a great addition to our already exceptional team. His experience fits perfectly with the current and future needs at Edge as we commence operations in Primate, Saskatchewan on our newly acquired heavy oil play. He has demonstrated a level of fundamental accountability and responsibility that is often limited to the few true leaders in our industry. We are privileged to have been in the right place at the right time to facilitate Monty's move to the Edge team."

Monty is already involved in the formulation and execution of this summer's drilling program, which will focus 100% on oil, primarily on the Company's recently acquired lands in Primate, Saskatchewan.

About Edge Resources Inc.

Edge Resources is focused on developing a balanced portfolio of oil and natural gas assets from properties in Alberta and Saskatchewan, Canada. Management has consistently focused on:

  1. Pools and horizons with exceptionally high reserves in place
  2. High working interests and fully operated regions
  3. Shallow, vertical, conventional programs with reduced risk and capital requirements

The management team's very high drilling 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.

For more information, visit the company website: www.edgeres.com.

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.

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.

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.

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
    +1 (403) 767 9905

    Edge Resources Inc.
    Nathan Steinke
    Chief Financial Officer
    +1 (403) 767 9905

    Edge Resources Inc.
    Monty McNeil
    Vice President of Operations
    +1 (403) 767 9905