Edge Resources Inc.

Edge Resources Inc.

October 29, 2009 08:00 ET

Edge Resources Signs Letter of Intent to Drill Additional Wells and Increase Landbase by 64%

CALGARY, ALBERTA--(Marketwire - Oct. 29, 2009) - EDGE RESOURCES INC. ("Edge" or the "Company") (TSX VENTURE:EDE)(PINK SHEETS) announces that it has signed a letter of intent that provides the Company with the ability to earn an additional seven sections of highly prospective Edmonton Sands property. Upon earning these seven sections, the Company would operate a total of 18 sections, representing a 64% increase over the existing land operated by the Company. Edge has been working with one of Canada's major E&P firms (the "Farmor") on a farm-in agreement that will allow Edge to earn seven sections of highly prospective Edmonton Sands properties, all within the prolific Wilson Creek area of Alberta adjacent to the existing Edge lands. The Company is free to select the drilling locations of its choice on the lands and must drill one well on each section to earn 100% of the Farmor's working interest in each respective section, subject to a gross overriding royalty.

Brad Nichol, the Company's President & CEO, commented, "In line with our strategy of targeting the most prospective Edmonton Sands properties, we are pleased to have an opportunity to earn these specific sections. Our technical team is very enthusiastic about this opportunity and is gearing up to select the best drilling locations on this additional land."

The Company intends on being the operator of record on all sections and will utilize its highly targeted approach as well as its innovative techniques to achieve above average results on its Edmonton Sands properties in Alberta.

About Edge Resources Inc.

Edge Resources employs a highly selective approach to the Edmonton Sands play. This highly-targeted approach utilized by the Edge Team has historically produced above average results in the Edmonton Sands formations in central Alberta, Canada. The Management Team's successful results are based on a proven ability to efficiently execute in shallow gas, specifically the Edmonton Sands, which gives the Company 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.

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
    403 532 2411