Edge Resources Inc.

Edge Resources Inc.

October 07, 2010 09:00 ET

Edge Resources Provides Operational Update

CALGARY, ALBERTA--(Marketwire - Oct. 7, 2010) - EDGE RESOURCES INC., ("Edge" or the "Company") (TSX VENTURE:EDE) provides the following update on operational activities:

Further to its press release dated September 28, 2010, the Company announces that, of the Company's 12 sections, it has sold a 5 1/2% working interest in 7 sections for total consideration of $550,000. These working interests were sold under the terms previously described in the September 28, 2010 press release. The 100% interest in the 7 sections was previously acquired in 2009 for $1,500,000.

Additionally, the Company wishes to announce the commencement of several operational projects. First, the Company has commenced operations to construct its own, dedicated shallow gas infrastructure for the tie-in of its own natural gas production as well as some 3rd party production. Equipment has been ordered, including a multi-stage compressor that will be the backbone of the dedicated low pressure gathering system. The Company expects to commence significant production through this system in a few short weeks. Second, the Company has commenced fracturing stimulation on all of its wells. Following all of the stimulation operations, each well will be individually flow-tested and prepared for production, which will occur through the Company's shallow gas gathering system. Third, the Company is in the process of selecting a drilling rig for its proposed 4th quarter drilling program, slated to begin in the coming days. The Company expects to be moving a drilling rig and commencing a significant multi-well drilling program in the next two weeks, depending on weather.

Brad Nichol commented, "I could not be more pleased with the execution or our operational plans by our team. Again we were shown a very small window of weather-related opportunity and executed perfectly. The commencement of our tie-in and completion operations this week is a very exciting time for the Company and its shareholders. The low gas prices continue to create exploration and development opportunities for the Company, which continues to be cash flow positive even at today's prices."

About Edge Resources Inc.

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 primarily on pursuing these highly prospective opportunities. 

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

Brad Nichol, President & Director


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.

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