Edge Resources Picks Up Edmonton Oil Sands Assets

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Buyers
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Description

Acquired a producing foothold in the Edmonton Sands project area.

Edge Resources Inc., Calgary, (TSX: EDE) has closed the previously announced transaction and has acquired a significant, producing foothold in the Edmonton Sands project area for $10,286 per flowing boe/day.

The company expects to immediately improve operating efficiencies and cash-flows associated with the acquired properties.

"I am very pleased with the Edge team, whom have proven their ability to source, evaluate and close highly accretive transactions," says Brad Nichol, president and CEO. "This, combined with the team's exceptional results with the drill bit, should allow our shareholders to reap the rewards from the current asset base and the significant long-term developmental upside associated with it."