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Production Update/Proactive Investors Presentation

15 Jan 2014 07:00

RNS Number : 6631X
Edge Resources Inc.
14 January 2014
 



FOR IMMEDIATE RELEASE

AIM Exchange Symbol: EDG

TSX Venture Exchange Symbol: EDE January 15, 2014

Edge Resources Inc. Calgary, Alberta

 

 

Edge Resources Inc. Announces Production Additions and

Intention to Present at Proactive Investors One2One Investor Forum

 

 

Edge Resources Inc. ("Edge" or the "Company") is pleased to announce that Brad Nichol, President and CEO of Edge, will present at the Proactive Investors One2One Forum in London on Thursday (January 16, 2014). Ahead of the investor forum, the Company is required to provide a brief update regarding preliminary results of the recent four well drilling programme.

As expected (see December 18, 2013 announcement), the first three wells of the recent drilling programme were put on production test just prior to the year end; the fourth is expected to be brought on production within the next two weeks.

Total combined production from the three new wells is 175 bopd. However, as is usual with Cold Heavy Oil Production with Sand ("CHOPS") wells it can take an extended period of time for these types of wells to clean up and for the combination of sand, oil, water, foam and gas rates to stabilise.

Brad Nichol commented, "We are excited at the prospect of these wells adding to the production and reserves of the Company and are looking forward to getting them cleaned up and fully on-stream."

The Edge presentation will be uploaded to the Proactive Investors and Edge websites following the event.

For further information go to: http://www.proactiveinvestors.co.uk/pages/events.

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

 

Brad Nichol, President and CEO Phone: +1 403 767 9905

 

Sanlam Securities UK Limited (Nominated Adviser and Joint Broker) Phone: +44 (0)20 7628 2200

Simon Clements / Scott Mathieson / Max Bascombe

 

SP Angel Corporate Finance LLP (Joint Broker) Phone: +44 (0)20 3463 2260

John MacKay / Richard Hail / Stuart Gledhill / Zac Phillips (Research)

 

 

About Edge Resources Inc.

 

Edge Resources is focused on developing its heavy oil properties within a balanced portfolio of oil and natural gas assets from properties in Alberta and Saskatchewan, Canada. Management has consistently focused on:

1. Shallow, vertical, conventional programmes with 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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MSCLFFSILAISLIS
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