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Production Update

2 Apr 2013 07:00

RNS Number : 2307B
Edge Resources Inc.
02 April 2013
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FOR IMMEDIATE RELEASE

TSX Venture Exchange Symbol: EDE

AIM Exchange Symbol: EDG April 2, 2013

EDGE RESOURCES INC. Calgary, Alberta

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Edge Resources Inc. Provides Production Update

Edge Resources Inc. ("Edge" or the "Company") is pleased to announce that the first well of the Company's Spring drilling programme in Asset East (announced February 27, 2013), has been on production for the last thirty days and is producing better than expected.

The well has averaged approximately 50 barrels of oil per day ("bopd") over the majority of the initial production period but has recently increased to over 60 bopd, with production fundamentals indicating further production increases are possible.

The well encountered 8 meters of net pay and is being conservatively production tested using a progressive cavity pump to assist with the production of formation sand alongside the oil. Despite erratic production that is typical and expected of CHOPS wells, the well achieved an average rate of over 50bopd during the first month of production testing.

The current rate is the maximum production rate allowable with the production pump at its current setting. However, the pump rate can be increased at any time the Company chooses, and both pressures and fluid levels indicate further increases are feasible.

In these early stages of production, the Company is choosing not to produce this well at - or near - maximum capacity. The Company is conservatively producing near the low end of the production range, to promote stability and avoid heavy and sudden influxes of sand and/or water.

Brad Nichol, President and CEO of Edge commented, "This is an excellent result, and supports a very large development program in Asset East. The discovery of three new oil pools was a significant development for the Company; however, the continued successful delineation of the pools through our drilling programme is generating an even larger runway of drilling locations and, ultimately, more value for our shareholders."

Edge will utilize the downtime associated with Spring breakup to perform further analysis on Asset East, employing the Company's extensive base of proprietary 3D seismic in conjunction with log and production results. The Edge team will work to better define the size of the large prize in Asset East and continue planning for the large runway of drilling locations on the Company's 100% working interest land-base in Primate, Saskatchewan.

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

Brad Nichol - President & CEO

Phone: +1 (403) 767 9905

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

Lindsay Mair

Max Bascombe

Katie Shelton

Phone: +44 (0) 20 7628 2200

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Buchanan - Financial PR

Louise Mason

Tim Thompson

Tom Hufton

Phone: +44 (0)20 7466 5000

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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

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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.

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This information is provided by RNS
The company news service from the London Stock Exchange
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END
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MSCUARRROUASRUR
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
17th Jul 20127:00 amRNSLand Acquisition and Appointment of New Director
5th Jul 20127:00 amRNSFirst Day of Dealings
21st Dec 20095:07 pmRNSConversion of Ordinary Shares into Deferred Shares
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
10th Jun 200910:33 amRNSIssue of Equity
14th Apr 20097:00 amRNSIssue of Equity
28th Nov 20085:27 pmRNSStatement re Offer for Subscription
27th Nov 20085:51 pmRNSDividend Declaration
5th Nov 20087:00 amRNSDividend Declaration
23rd Oct 20087:00 amRNSInterim Results
31st Jul 20083:32 pmRNSPublication of Prospectus
30th Jun 20084:25 pmRNSAnnual Report and Accounts
30th Jun 20084:12 pmRNSOffer for Subscription
15th May 20085:15 pmRNSExtension of D Share Offer
30th Apr 20085:14 pmRNSTotal Voting Rights
11th Apr 20085:33 pmRNSIssue of Equity
7th Apr 20086:14 pmRNSIssue of Equity
20th Mar 20085:02 pmRNSIssue of Equity
8th Nov 20077:00 amRNSResult of EGM
25th Oct 20073:45 pmRNSDividend Declaration
12th Oct 20073:34 pmRNSCirc re. D Share offer
10th Oct 20077:00 amRNSInterim Results
5th Jul 20076:10 pmRNSAnnual Information Update
29th May 20075:40 pmRNSIssue of Equity
29th May 20077:01 amRNSFinal Results
1st May 20073:46 pmRNSVoting Rights & Capital
26th Apr 20072:36 pmRNSOffer of Equity
10th Apr 20077:01 amRNSIssue of Equity
21st Mar 20075:06 pmRNSIssue of Equity
2nd Jan 20077:00 amRNSTotal Voting Rights
14th Dec 20065:46 pmRNSInvestment
20th Nov 20069:30 amRNSSale of Subsidiary
20th Nov 20067:02 amRNSFirst Investment
15th Nov 20065:46 pmRNSEGM Statement
10th Nov 200610:13 amRNSCirc re. EGM Statement
30th Oct 200611:59 amRNSNew Accounting Ref Date
19th Oct 200612:40 pmRNSInterim Results
4th Jul 200512:03 pmRNSCancellation of Listing
4th Jul 20057:30 amRNSSuspension-Edinburgh Oil
1st Jul 20051:25 pmRNSCourt Sanction of Scheme

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