Edge Resources Inc.
TSX VENTURE : EDE

Edge Resources Inc.

January 12, 2011 08:45 ET

Edge Resources Inc.: Infrastructure Nearing Completion; Company to Exit January With Balanced Production

CALGARY, ALBERTA--(Marketwire - Jan. 12, 2011) - Edge Resources Inc. ("Edge" or the "Company") (TSX VENTURE:EDE) announces that, subsequent to its December 9, 2010 press release, significant progress has been made on the construction of the Company's wholly-owned and operated shallow-gas infrastructure project. The extremely cold weather and Holiday season have not hampered construction and the project is nearing the final stages of completion. The compressor station has been constructed and the main compressor has been moved to location.

The Company expects to be producing its own natural gas in a phased production ramp-up, which will be supplemented with third-party revenue-generating production, by the end of January 2011.

The bespoke infrastructure project has been designed to provide industry-leading operational efficiencies and extremely low operating costs, essential for success in a low-price natural gas environment.

Brad Nichol, President of Edge, commented, "January 2011 should be a notable time in the Company's history. We should start producing from our core Edmonton Sand asset and we expect to balance that gas production nicely with oil production from our recently announced acquisition. The Company intends to continue drilling and building its land position in the Edmonton Sands, while augmenting the gas assets with a shallow, conventional, cash-flowing, oil property – it's an excellent platform for significant growth." Nichol added, "We have no intention of slowing down. We hope to continue establishing our reputation as leaders in the Edmonton Sand fairway and will keep our eyes open for excellent acquisition prospects in our mainstay areas."

On closing the acquisition announced on January 5, 2011, Edge will be acquiring a well-understood and partially developed, conventional, shallow oil play. The Company intends to build off its well-established core competencies, which include mapping conventional, shallow oil and gas trends and successfully implementing shallow drilling and completion techniques.

About Edge Resources Inc.

Edge Resources is focused on the exploration, development and production of oil and natural gas, most prominently 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 formations, 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.

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

Brad Nichol, President & Director

EDGE RESOURCES INC.

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.

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 & Director
    403-767-9905
    www.edgeres.com