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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Edge Res | EDG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.175 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.175 | 0.175 |
| Top Posts |
|---|
Posted at 17/1/2018 23:25 by brasso3 Does not give EDG a mention! I wonder why? |
Posted at 26/4/2016 17:55 by carpadium FOR IMMEDIATE RELEASETSX Venture Exchange Symbol: EDE AIM Exchange Symbol: EDG April 26, 2016 Calgary, Alberta Edge Resources Announces Shut-in of Production, Cessation of Operations, Termination of Officers and Resignation of Directors Edge Resources Inc. (“Edge” or the “Company” The Company has an LMR rating in Alberta of 1.29 which, with low-decline assets, is projected to remain greater than 1.0 for the foreseeable future. The rating in Saskatchewan is currently 3.8. The Company has been actively engaged in attempts to secure financing, asset sales and restructuring processes since May of 2015 and despite pending extant offers for all and/or some of the assets of Edge, the proceeds would be insufficient to satisfy all liabilities of the Company. The cost of operations, including processing and transportation of commodities, field labour and production costs, royalties, and administrative expenses, exceeds gross revenues at recent commodity pricing levels. The Company’s lender has declined to provide further financial support to Edge and, despite Edge’s exhaustive efforts to work with ATB on several bona fide options, there is no other means of financing available to the Company at this time. The directors have determined that Edge’s business is no longer viable, that Edge’s realizable asset value is less than its current debt, that in the present economic environment and in Edge’s present circumstances with its current asset base, Edge cannot refinance or recapitalize its operations and that the Company, therefore, no longer has the financial capability to carry on its operations. As a result, Edge announces that it has now consented to ATB’s appointment of a Receiver over the Saskatchewan-based assets, shut-in its Alberta operations, terminated certain officers of the Company, and that all remaining employees and consultants have been terminated and directors have resigned, effective immediately. As a result of the foregoing, trading of the Company’s common shares on the TSX Venture Exchange will be suspended and the listing will be moved to the NEX Exchange. Separate Note: NEX is a separate board of TSX Venture Exchange. It provides a trading forum for listed companies that have fallen below TSX Venture's ongoing listing standards. Going forward, companies that have low levels of business activity or have ceased to carry on active business will trade on the NEX board, while companies that are actively carrying on business and pursuing growth and shareholder value will remain with the main stock list of TSX Venture Exchange. |
Posted at 06/4/2016 18:03 by andy did everyone miss this RNS yesterday?------- 05 April 2016 TSX Venture Exchange Symbol: EDE AIM Exchange Symbol: EDG April 5, 2016 EDGE RESOURCES INC. Calgary, Alberta Edge Resources Announces Demand by Lender to Repay Outstanding Indebtedness and Notice of Intention to Enforce Security Edge Resources Inc. ("Edge" or the "Company") announces that its lender, Alberta Treasury Branch ("ATB"), has made demand upon Edge for payment in full of Edge's outstanding indebtedness in the aggregate amount of approximately $8.4 million plus interest, costs and fees by Monday, April 11, 2016 at 5:00 p.m. In addition, ATB has provided Edge with a Notice of Intention to Enforce Security pursuant to subsection 244(1) of the Bankruptcy and Insolvency Act (Canada). The Company is in continued discussions with its subordinated lender to acquire the debt from ATB. While the Company is hopeful and encouraged that its subordinated lender will acquire the debt, which would allow the Company to continue operating, there are no guarantees this will happen before the deadline imposed by ATB. As announced on March 4(th) and 15(th) 2016, trading in the Company's shares on AIM is currently suspended as the Company does not have an AIM nominated adviser appointed. The Company's admission to AIM will be cancelled on April 15(th) , 2016, as it does not intend to appoint a new nominated adviser. ------- That all looks a bit terminal, IMHO. let's hope the subordinated lender can come to the rescue! |
Posted at 01/4/2016 19:27 by carpadium Spot on adverse. Their friendly 'road builder' shareholder, due total repayment in 2017 could only ever get any value in EDG, if at all possible, by swapping debt for equity ... he has even 'donated' a further CAD$ 600K to assist survival, maybe round the number up to a whole. Problem of course is he's not an oil man, he's got $12m wrapped up in an industry he has no understanding of but he's taken this course because there's no other possible route to, at best, get repaid.Why would anyone invest now in a company 93% owned by a chap who's clearly trying to recoup a duff investment!? EDG still remain indebted to their bankers, and with re-payment on demand, always at their mercy to the tune of approx $8m. The further loan of $600K will barely result in a break even quarter. Their income from drilling is only going to decrease without fresh investment and Canadian capital markets are tightly closed. Wouldn't like to guess how they're going to emerge from this mess, if in deed they can but, even though I've lost a life-changing amount, I bear BN no malice whatsoever. It remains my poorly-thought-throu |
Posted at 01/4/2016 18:16 by adverse Oh dear! I'm finding it painful to watch you, mark10101, as you search for reasons to be cheerful about what has just happened. You don't seem to have understood the documents at all.Two things are in the pipeline: consolidation and dilution. Consolidation is irrelevant to your shareholding. If it's 20 to 1 then the price of the share multiplies by 20 but your holding is divided by 20. So no change whatsoever. 20 shares at 1p (say) becomes one share at 20p. Because EDG is currently trading at half a cent ($0.005) the new shares will, assuming no change in market cap, trade initially at twenty times that amount, or ten cents ($0.10). But remember, you are holding twenty times fewer of them! EDG is in serious trouble with debts, but mainly to the tune of $12m to one person. He appears to be exercising his right to swap the debt for equity. So he wants $12m in shares. The new shares are assumed to be worth ten cents, so he wants 120 million new shares. As of now there are 160 million "old" shares in existence. After consolidation, they become 160/20 = 8 million new shares. Those 8 million new shares, which account for the entire company, will be ADDED TO by the 120 million created for the person mentioned above. So your shareholding, your part-ownership of the entire company, which was a fraction of 8 million, at a stroke becomes a fraction of 128 million. Whatever assets the company has now have to be shared out over a MASSIVELY increased number of shares. Your holding has been diluted by 128/8 = 16 times. Except that the company has negative net assets anyway, so there's nothing to share out except more debt. But the oil price may recover, then the assets would be worth something again... |
Posted at 06/3/2016 22:59 by jumbone I can see from the number of replies and the silence on the things I post here and on Twitter that you all must think that I must either be out of my mind or must have an enormous amount at stake in EDG.I can assure you that I am not out of my mind I am not obsessed with EDG I do not hold a lot of stocks of EDG... But what I value my analysis... Before the Friday Morning's RNS we were on a very steep recovery.. But Brad with his uncanny timing hijacked that reversal... Another one is on or about to be on tomorrow. Do me a favour and let that reversal form and mature.. Don't kill it off by selling off cheap... If you do... it will only delay the reversal... not stifle it... So why not hang on to your EDG shares and let the reversal take place before dumping your stock for pittance? |
Posted at 06/3/2016 15:44 by mark10101 I must admit it was always my fear and I did not average down until the day before the delisting RNS, I felt the volume may have suggested somthing going on and it did, it was allowing people out again my fear after we failed to rise much when there was such large buying volume on Thursday. AIM is utterly failing to deliver for CEOs in terms of reliable and cheap funding so AIM seems to be in its death throws. It makes complete sense to delist from AIM for EDG and could be the catalyst for change.So far this year of a portfolio of 6 EDG will be the 4th to delist from AIM with me as a holder, Jungmana TRIN is the last of my portfolio that I have not cashed in that has not delisted... I seem to have a knack for it, the good news is only one of them delisted due to insolvency. The other 3 all could and hopefully will come back on different markets at higher levels than we left, it is just going to be a year before that happens. At least EDG should be tradable by late spring all be it on TSX. Fingers crossed we get some positive signs for EDG next week. |
Posted at 04/3/2016 11:32 by mark10101 Jungmana, I am with you, the more I think about this the better I feel it is for EDG holders. I am not recommending anyone back up the truck but the move to TSX could be just what we needed. We know that there is no money swishing around London for oil stocks. Brad does not want to dilute at this level as it would be futile. Holding dual listing is an unecessary expense so although currently the trading volume is higher here in the UK when listed on the TSX the volume will increase there, certainly if accompanied by news. Brad is far more likely to pull off finacing in Canada than the UK so it is a logical step, the current situation for EDG was gridlock and collapsing share price. When we have been through this event it will likely to be the catalyst for the turn around we have all been waiting for. |
Posted at 15/12/2015 19:06 by carpadium In an email to Brad I mentioned my surprise at Twin Butte's situation, his comment in reply worthy of posting ..I’ve been ranting about these large juniors that decided to pay dividends in order to attract investment that they all had an expiry date – Twin Butte and Spyglass Resources are just two examples that have proved dividend payers cannot also be large growth companies. It was great for management, who got a bunch of stock in the early days on the cheap – they’re all millionaires now because they’ve paid themselves tens of millions of dollars in dividends. I’m sure none of them are as upset as their shareholders who paid up to 100x more for their stock than management did, meaning their shareholders likely took home up to 100x less in dividend payments over the years. It was never sustainable and there are many people on fixed incomes that have lost significantly, due to this completely flawed and doomed dividend strategy for a junior company. It’s a shame. Unlike others and to his credit his approach is to deliver share value equally to all holders. All he has to do, as Laz points out, is make sure we stay in the game! |
Posted at 07/11/2015 21:01 by carpadium Understandable for EDG holders to feel down and losing patience what with the state of oil, Keystone, Trudeau, BN's silence etc etc. But since the above frustrated post I've been in touch with Brad asking if there's any chance of a rare UK visit to meet shareholders, put a face to the name and basically bring us up to date.His reply was that he didn't have a solid plan to visit prior to Christmas but if he was to close a major event that he'd been working on for some time he would likely make a trip over as there would be plenty to discuss. Whilst it's common knowledge that Edge, together with the strategic investor group, are engaged in seeking acquisitions it's nonetheless encouraging to hear that they've been and still are working on a target that could be a game-changer for shareholders .. and additionally it was confirmed that 'several irons in several fires' existed too. This massive industry downturn we're seeing, which could go on for much longer (who knows?) is, as stated by Brad earlier this year producing 'opportunities rarely seen in a lifetime'. If Edge can raise the backing to take advantage then that route to shareholder value is infinitely more rapid and practical than sinking a couple of wells each year. GLA A reminder of the last para. RNS 28/7.... Brad Nichol, Edge's President and CEO commented, "Being able to raise new capital in this very challenging market is an accomplishment that few have been able to demonstrate. We have consistently proven it to be one of our core strengths and it is an absolutely critical competitive advantage in our industry; and one that is currently enjoyed by few. To have a new capital partner commit now, as we embark on an aggressive growth strategy through consolidation of medium and heavy oil assets, signifies a major kick-start to Edge becoming one of Canada's high-growth E&P companies. I am especially excited that the Investor Group, combined with the support of our current lenders and major shareholders, should allow us to expand our existing production and growth profile as acquisition prices approach historical lows. We aim to become one of the largest E&P companies focused on medium and heavy oil, for the sole benefit of our existing and new shareholders, and today's news is a significant step in that direction. |
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