Welcome!

News Feed Item

Edge President Reviews 2012 Achievements and Provides Corporate Update

CALGARY, ALBERTA -- (Marketwire) -- 01/31/13 -- Edge Resources Inc. (TSX VENTURE:EDE)(AIM:EDG) -

Dear Shareholders,

In light of our upcoming drilling program in February and the current volatility and uncertainty in both the equity and natural resources markets, I would like to summarize 2012 and provide a strategic and operational outlook for 2013.

2012 marked a year of major accomplishments and transition for Edge Resources and I am very pleased with the achievements we have made. Amongst these, and perhaps the most significant for shareholders, was the more than doubling of our share price while the natural resources sector, in general, saw significant declines in a challenging market.

Last year we promised to deliver both near and long-term shareholder value from potential acquisitions, and we did just that; in February, 2012 we closed an oil-focused acquisition in Saskatchewan. We initiated the development of that asset, which resulted in the discovery of a significant new oil pool. Then, with the help of a 3D seismic program, we discovered two additional potential pools. We are now undertaking the exciting and enviable duty of further definition and delineation of those new pools with our Q1 2013 drilling program.

Following the February acquisition, we introduced Henderson Global Investors, a CDN$100 billion investment manager, to our shareholder register. This association has provided the Company with a strategic partner to help provide access to capital in a capital-starved junior natural resources sector. As a result, in 2012 the Company secured over $10 million in equity financing, while most juniors could not raise capital necessary to develop their assets.

Shortly after the introduction of Henderson, we added some oil-based operational strength to our team. Monty McNeil joined as our Vice President of Operations. With more than 28 years of experience with some of the industry's biggest and best (Husky and Renaissance Energy, just to name a couple), Monty has extensive oil and gas knowledge that extends from the reservoir to the pipeline. From production optimization to drilling and completions, Monty has been a remarkable addition to our team.

2012 hosted a historical event for Edge, with a year's worth of effort paying off with the first day of trading on the London Stock Exchange's AIM board in July. With a European shareholder base of approximately 50% of Edge's total, the AIM listing provided additional liquidity (nearly doubling our trading volumes) and drastically increased our access to capital in a market that was essentially closed to junior oil and gas issuers. Edge trades under the symbol EDG on the AIM exchange in the UK.

Some of the highlights of the Company's 2012 achievements are summarized below:


--  The addition of 19 net (and gross) sections (12,160 acres) of 100%
    owned, undeveloped land in Primate, Saskatchewan 
    
--  The addition of approximately 350 boe/day of production in Primate,
    Saskatchewan 
    
--  NPV10 value increase of 36%, from $46.5 million effective March 2011 to
    $63.2 million effective March 2012(1) 
    
--  Addition of critical team members in engineering and operations 
    
--  Discovery of three new oil pools on previously undeveloped land in
    Primate, Saskatchewan 

2013 Outlook:

We are about to embark on a Q1 oil-based drilling program, which we expect to complete before "spring breakup" (the period of time, normally between mid-March and beginning of May when frost is coming out of the ground and heavy equipment cannot travel on county roads). This drilling program will be focused on new targets on our large undeveloped land base, including further delineation of one of our newly discovered oil pools in Saskatchewan. We expect to move a drilling rig to the first location in February.

One of the most exciting developments in 2012 was the discovery of three new Saskatchewan oil pools, through a combination of drilling and 3D seismic. We intend to kick off 2013 by further delineating those pools with a drilling program starting in February. We plan to start unlocking the potential value from these discoveries as we drill more wells and understand more about these new reservoirs.

We are planning to drill a completely new oil horizon in early 2013 with horizontal drilling technologies. With a horizontal well, it is our intent to unlock the potential of known oil reserves in a known reservoir, which is currently untapped in our immediate area. However, this reservoir extends across the bulk of our undeveloped lands and represents considerable potential value if the results are favorable.

Continuing from our organic and acquisitive growth in 2012, we have developed a strategy to build on last year's momentum. We believe the capital scarcity that has plagued the natural resources sector for more than a year has left some assets undercapitalized and/or neglected. The recently-observed short-term bottlenecks with Canadian oil markets has widened the Canadian-to-WTI differentials and stressed some assets and companies even further than before. We believe a strong team with access to growth capital can take full advantage of these events in 2013 and secure great assets at beneficial metrics, and we fully intend to do just that.

To conclude, we believe we are exceptionally well positioned to rise above any challenges 2013 might present. More importantly, we are poised to capitalize on opportunities provided by less robust companies, teams and/or assets. We have a solid asset base to further develop and flourish with. We are proactively and constantly seeking growth opportunities through the drill bit and through acquisition. Our track record demonstrates that we are able to deliver shareholder value and we look forward to the year ahead with confidence and enthusiasm.

Thank you for your continued support.

Brad Nichol, President & Director

Edge Resources Inc.

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.  Targeting shallow, conventional development 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 remaining 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.

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

(1) As disclosed in the Company's Reports on Reserves Data prepared by AJM Deloitte (the Company's Independent Qualified Reserves Evaluator) dated effective March 31, 2011 and March 31, 2012. Consent to this disclosure has been provided by AJM Petroleum Consultants.

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.

Barrel ("bbl") of oil equivalent ("boe") amounts may be misleading particularly if used in isolation. All boe conversions in this report are calculated using a conversion of six thousand cubic feet of natural gas to one equivalent barrel of oil (6 mcf=1 bbl) and is based on an energy conversion method primarily applicable at the burner tip and does not represent a value equivalency at the well head.

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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
What sort of WebRTC based applications can we expect to see over the next year and beyond? One way to predict development trends is to see what sorts of applications startups are building. In his session at @ThingsExpo, Arin Sime, founder of WebRTC.ventures, will discuss the current and likely future trends in WebRTC application development based on real requests for custom applications from real customers, as well as other public sources of information,
China Unicom exhibit at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. China United Network Communications Group Co. Ltd ("China Unicom") was officially established in 2009 on the basis of the merger of former China Netcom and former China Unicom. China Unicom mainly operates a full range of telecommunications services including mobile broadband (GSM, WCDMA, LTE FDD, TD-LTE), fixed-line broadband, ICT, data communica...
My team embarked on building a data lake for our sales and marketing data to better understand customer journeys. This required building a hybrid data pipeline to connect our cloud CRM with the new Hadoop Data Lake. One challenge is that IT was not in a position to provide support until we proved value and marketing did not have the experience, so we embarked on the journey ourselves within the product marketing team for our line of business within Progress. In his session at @BigDataExpo, Sum...
As software becomes more and more complex, we, as software developers, have been splitting up our code into smaller and smaller components. This is also true for the environment in which we run our code: going from bare metal, to VMs to the modern-day Cloud Native world of containers, schedulers and micro services. While we have figured out how to run containerized applications in the cloud using schedulers, we've yet to come up with a good solution to bridge the gap between getting your contain...
With the introduction of IoT and Smart Living in every aspect of our lives, one question has become relevant: What are the security implications? To answer this, first we have to look and explore the security models of the technologies that IoT is founded upon. In his session at @ThingsExpo, Nevi Kaja, a Research Engineer at Ford Motor Company, will discuss some of the security challenges of the IoT infrastructure and relate how these aspects impact Smart Living. The material will be delivered i...
Apache Hadoop is emerging as a distributed platform for handling large and fast incoming streams of data. Predictive maintenance, supply chain optimization, and Internet-of-Things analysis are examples where Hadoop provides the scalable storage, processing, and analytics platform to gain meaningful insights from granular data that is typically only valuable from a large-scale, aggregate view. One architecture useful for capturing and analyzing streaming data is the Lambda Architecture, represent...
As organizations realize the scope of the Internet of Things, gaining key insights from Big Data, through the use of advanced analytics, becomes crucial. However, IoT also creates the need for petabyte scale storage of data from millions of devices. A new type of Storage is required which seamlessly integrates robust data analytics with massive scale. These storage systems will act as “smart systems” provide in-place analytics that speed discovery and enable businesses to quickly derive meaningf...
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, will provide a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services ...
SYS-CON Events announced today that Ocean9will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.
The taxi industry never saw Uber coming. Startups are a threat to incumbents like never before, and a major enabler for startups is that they are instantly “cloud ready.” If innovation moves at the pace of IT, then your company is in trouble. Why? Because your data center will not keep up with frenetic pace AWS, Microsoft and Google are rolling out new capabilities In his session at 20th Cloud Expo, Don Browning, VP of Cloud Architecture at Turner, will posit that disruption is inevitable for c...
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
Providing the needed data for application development and testing is a huge headache for most organizations. The problems are often the same across companies - speed, quality, cost, and control. Provisioning data can take days or weeks, every time a refresh is required. Using dummy data leads to quality problems. Creating physical copies of large data sets and sending them to distributed teams of developers eats up expensive storage and bandwidth resources. And, all of these copies proliferating...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
DevOps has often been described in terms of CAMS: Culture, Automation, Measuring, Sharing. While we’ve seen a lot of focus on the “A” and even on the “M”, there are very few examples of why the “C" is equally important in the DevOps equation. In her session at @DevOps Summit, Lori MacVittie, of F5 Networks, explored HTTP/1 and HTTP/2 along with Microservices to illustrate why a collaborative culture between Dev, Ops, and the Network is critical to ensuring success.