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EDE

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Share Name Share Symbol Market Type
TSXV:EDE TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Edge Resources Inc. Provides Operational Update

17/04/2013 1:45pm

Marketwired Canada


Edge Resources Inc. (TSX VENTURE:EDE)(AIM:EDG) ("Edge" or the "Company") is
pleased to provide a production update on the first well of the Company's spring
drilling program in Asset East.


As previously reported (see April 2, 2013 announcement) this vertical well in
Asset East was producing over 60 barrels of oil per day ("bopd") with production
fundamentals indicating further production increases were possible.


Production from this well has now increased to over 90 bopd and it is providing
further indications that additional production increases are possible.


The well encountered eight 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 some erratic production that is
typical and expected of CHOPS wells, the well achieved an average rate of over
50 bopd during the first month of production testing.


Brad Nichol, President and CEO of Edge commented, "We are delighted with the
early stage production from this well. Other than a couple of minor hiccups
early on, we have not experienced many of the typical heavy influxes of sand
that normally disrupt the initial few months of a typical CHOPS producer."
Nichol added, "Our team has made good progress on the development plan for the
three new, large oil pools discovered at Asset East, with detailed geophysical
plans existing for 12 of the first 20 drilling locations. We look forward to the
large drilling runway ahead of us in Asset East and believe there is a
substantial resource to be developed."


Edge will utilize the downtime associated with spring breakup - a temporary
period between winter and spring when the local counties restrict the movement
of heavy equipment such as drilling rigs - to enhance the Asset East plan, which
will utilize the Company's extensive base of proprietary 3D seismic in
conjunction with log and production results.


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 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.


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.


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.


Trading in the securities of Edge Resources Inc. should be considered highly
speculative.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Edge Resources Inc.
Brad Nichol
President & CEO
+1 (403) 767 9905


Edge Resources Inc.
Ward Kondas
+1 (778) 918-8384
wkondas@edgeres.com
www.edgeres.com

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