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Completes Horizontal Well in New Formation

13 Mar 2013 07:00

RNS Number : 8808Z
Edge Resources Inc.
13 March 2013
 



FOR IMMEDIATE RELEASE

TSX Venture Exchange Symbol: EDE

AIM Exchange Symbol: EDG March 13, 2013

EDGE RESOURCES INC. Calgary, Alberta

 

Edge Resources Inc. Completes Horizontal Well in New Formation

Edge Resources Inc. ("Edge" or the "Company") is pleased to announce that it has finished drilling the second well of the Company's Spring drilling program in Primate, Saskatchewan. The well was successfully drilled and cased without incident and is now being prepared for production.

The horizontal well was drilled into a new formation and cased with a slotted liner in 495 meters of horizontal pay. Completion and equipping operations will commence immediately and continue during breakup. The rig was released to an all-weather rack site as Spring break-up conditions would not allow the rig to be moved to another drilling location.

Brad Nichol, President and CEO of Edge commented, "We are very pleased that the drilling of our first horizontal well in a new horizon has gone so smoothly and quickly. I must credit our operations and drilling team who utilized their many years of experience and planned this operation meticulously. With continuous oil shows throughout the entire 495 meters of horizontal leg, we are very keen to start producing this well. Given that breakup is almost upon us, we are taking the extra step of building a permanent road so that the well can produce without interruption throughout break-up." Nichol added, "We anticipate that successful production testing will support several additional horizontal drilling locations, specifically targeting the new horizon. We certainly have the undeveloped land-base to support a large program and are eager to get started."

The Company has a 100% working interest in 20 sections (12,800 acres) of land in Primate, Saskatchewan.

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

Brad Nichol - President & CEO

Phone: +1 (403) 767 9905

 

Merchant Securities Limited (a member of the Sanlam Group) - Nominated Advisor and Broker

Lindsay Mair

Max Bascombe

Katie Shelton

Phone: +44 (0) 20 7628 2200

 

Buchanan - Financial PR

Louise Mason

Tim Thompson

Tom Hufton

Phone: +44 (0)20 7466 5000

 

 

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. Shallow, conventional programs that typically offer reduced capital, operational and geological risks

2. Very high or 100% working interests and fully operated assets

3. Pools and horizons with exceptionally high reserves in place

 

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.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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Date   Source Headline
16th Oct 20127:28 amRNSUpdate On Operations
13th Aug 20127:00 amRNSOperations Update
23rd Jul 20127:00 amRNSSpudded First Well in Primate
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5th Jul 20127:00 amRNSFirst Day of Dealings
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17th Nov 20097:00 amRNSOffer for Subscription
27th Oct 20091:55 pmRNSDividend Declaration
27th Oct 20097:00 amRNSHalf Yearly Report
10th Jul 20096:06 pmRNSNotice of AGM Resolutions Passed
17th Jun 20091:57 pmRNSAnnual Financial Report
17th Jun 20091:56 pmRNSIssue of Equity
17th Jun 20091:50 pmRNSProposed final dividends
10th Jun 200910:37 amRNSIssue of Equity
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14th Apr 20097:00 amRNSIssue of Equity
28th Nov 20085:27 pmRNSStatement re Offer for Subscription
27th Nov 20085:51 pmRNSDividend Declaration
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30th Jun 20084:25 pmRNSAnnual Report and Accounts
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15th May 20085:15 pmRNSExtension of D Share Offer
30th Apr 20085:14 pmRNSTotal Voting Rights
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8th Nov 20077:00 amRNSResult of EGM
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5th Jul 20076:10 pmRNSAnnual Information Update
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29th May 20077:01 amRNSFinal Results
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26th Apr 20072:36 pmRNSOffer of Equity
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21st Mar 20075:06 pmRNSIssue of Equity
2nd Jan 20077:00 amRNSTotal Voting Rights
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30th Oct 200611:59 amRNSNew Accounting Ref Date
19th Oct 200612:40 pmRNSInterim Results
4th Jul 200512:03 pmRNSCancellation of Listing
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1st Jul 20051:25 pmRNSCourt Sanction of Scheme

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