Edge Begins Summer Drilling Program

- Edge Begins Summer Drilling Program

Tuesday, August 16, 2011
Edge Resources Inc.

Edge Resources has moved a drilling rig to the first of six wells that will be drilled as part of Edge's summer drilling program.

The first well has been spud and should be drilled, logged and cased within the next 48 hours before moving to the next location. Wet weather continues to be an issue in the area and may delay one or more of the subsequent rig moves; however, the Company has taken all necessary steps to minimize disruptions due to weather and complete a successful drilling program on or under budget.

Brad Nichol, President and CEO of Edge commented, "We are pleased to be moving a drilling rig and kicking off our summer drilling program. Work on the tie-in of additional production will continue throughout the summer, as well." Nichol added, "This drilling program means we will continue to add land and value through the drill bit but, in this low-priced natural gas environment, we are also continuing our acquisition efforts, which we hope will result in additions to the land and production base in the near future."

The Company also is pleased to announce that, as planned, Ian Thomson has stepped down as the Company's CFO and has been replaced by Nathan Steinke, effective August 1, 2011. Mr. Thomson will remain as a consultant to the Company for the foreseeable future. The Board was very pleased with Mr. Thomson's performance and is glad to support him in the future.

Nathan Steinke was formerly the CFO of Milestone Exploration Inc., a private junior oil and gas exploration, development and production company focused on growth opportunities and recently achieved production of approximately 2,800 boe/day. Mr. Steinke is a Chartered Accountant and articled in Calgary with a well known accounting firm. Mr. Steinke also worked as a field operator with Husky Energy, prior to pursuing his accounting designation.

Nichol added, "We were very pleased with Ian's work and are glad to continue our working relationship with him. Nathan is an excellent, full-time replacement that I am confident will provide shareholder value well into the future. He is pragmatic and experienced - and it is exceptional that he has hands-on field experience that is very rare for most people in his position. He is a great fit with our existing team and has contributed very quickly by playing a key role in securing our recently increased debt facilities."

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Key Completes Acquisition of Edge, Summit Oilfield Services

- Key Completes Acquisition of Edge, Summit Oilfield Services

Monday, August 08, 2011
Key Energy Services Inc.

Key Energy completed the previously announced acquisition of Edge Oilfield Services and Summit Oilfield Services. Total consideration for the transaction was $307.6 million, consisting of approximately 7.5 million shares of Key common stock and $189.7 million in cash, which includes $26.3 million to reimburse Edge capital expenditures, net of working capital adjustments.

Edge primarily rents frack stack equipment used to support hydraulic fracturing operations and the associated flow back of frack fluids, proppants, drilling and completion fluids, and oil and natural gas. It also provides well testing services, rental equipment such as pumps and power swivels, and oilfield fishing services.

Key's Chairman, President, and CEO, Dick Alario, stated, "We are excited to complete this transaction and welcome the Edge employees to Key. We expect Edge to increase our exposure to the horizontal well completion markets, and we hope to leverage our broad U.S. infrastructure to facilitate expansion of this high quality business in the coming years. We anticipate Edge's business will be accretive to Key's margins and earnings beginning this year, and we will provide additional guidance for Key's full-year 2011 results including Edge at a later date."

Edge's CEO, Darrell Brewer, stated, "We are happy to have reached this milestone in our company's history and become a part of Key. Our employees and I look forward to continued strong growth as part of the Key family."

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Edge's Drilling Program Delayed Due to Wet Weather

- Edge's Drilling Program Delayed Due to Wet Weather

Wednesday, July 20, 2011
Edge Resources Inc.

Edge Resources provided the following operational update in response to the recent flooding and extremely wet weather in the area of Eckville, Alberta, where the Company currently operates the majority of its producing natural gas wells.

Eckville has recently made news headlines because of heavy rains and flooding in and around the town. While the Company is disheartened by the loss and damage to property in and around Eckville, Edge is pleased to announce that none of its production or current operations have been adversely affected by the flooding.

The Company had hoped to initiate its summer 2011 drilling program this week; however, the extremely wet conditions have delayed the initiation of this program as well as delayed additional completion and tie-in activities in the area. The Company expects that it will be in a position to move a drilling rig into the area in August, with the help of warmer, drier weather.

In the meantime, the Company will continue with preparatory, regulatory and pre-construction administrative work for these and additional projects.

Brad Nichol, President and CEO of Edge commented, "It is devastating what has happened to the residents in the Eckville area. Edge has always employed a strategy of utilizing local contractors and supporting the local economy in its operations, so the flooding is more than just a newspaper headline to us. Some residents have reported that this was the worst storm in 45 years, which resulted in the closure of highways and bridges."

Edge's main producing natural gas property is approximately 30 km west of Eckville, near the town of Leslieville, Alberta.

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Commodity Corner: Oil, Natural Gas Edge Upward

- Commodity Corner: Oil, Natural Gas Edge Upward

Tuesday, June 21, 2011
Rigzone Staff
by Matthew V. Veazey

Crude oil for July delivery settled higher Tuesday on optimism that Greece's parliament would vote in favor of the country's existing government, paving the way for an austerity program and bailout.

Oil ended the day at $93.40 a barrel, a 14-cent gain, as investors speculated about the outcome of a pending confidence vote in Greek Prime Minister's George Papandreou's government. The country's parliament was set to begin voting at midnight local time.

Surviving the confidence vote would give the Papandreou government momentum to pass a slate of austerity measures through parliament that are key for Greece to obtain debt restructuring loans from the European Union and International Monetary Fund. The austerity program includes tax increases, spending cuts, and privatization measures.

July crude traded within a range from $92.50 to $94.74 Tuesday.

Thanks to new weather forecast models predicting hotter-than-normal temperatures from the Southwest to the Northeast, front-month natural gas gained seven cents Tuesday to settle at $4.39 per thousand cubic feet.

July natural gas futures peaked at $4.41 and bottomed out at $4.305. Gasoline lost three cents to end the day at $2.88 a gallon. The July contract price fluctuated from $2.85 to $2.94.

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Edge Boosts Production, Drills 3 Wells

Edge Boosts Production, Drills 3 Wells

Wednesday, March 30, 2011

Edge Resources Inc.

Edge has completed the first three wells of a multi-well drilling program. Additionally, the Company has increased production by fracturing and tying two wells into its 100% owned and operated, dedicated shallow-gas infrastructure.

The drilling rig, on contract from Ensign Energy Services, moved to the Company's location directly from northern Alberta on March 14, 2011. The rig drilled the first of at least eight licensed locations, with several others soon to be licensed and drilled. The rig was released because of "spring breakup", a period during which the winter frost comes out of the ground and the various counties restrict the movement of large equipment over the roads.

Brad Nichol, President and CEO of Edge commented, "I'm pleased with the operational team's ability to have squeezed this rig into our drilling plan prior to break-up versus waiting until break-up is over and competing with many other companies for the rigs. I am equally impressed with how quickly my team reacted to the availability of fracturing equipment.

On notice that the equipment was coming available, we immediately moved to put that equipment to work on our wells, and already have two of those wells producing into our own pipeline."

The Company commenced fracturing operations on several wells, after waiting since December 2010 for equipment to come available. The Company has successfully fractured two wells, both of which were immediately tied-into 100% owned and operated, existing shallow-gas infrastructure. Other wells will be fractured as part of this program but will not be tied-into pipeline until after spring breakup.

These two wells are flowing over 1,000 mcf/day (167 boe/day) on initial production, which adds significantly to the Company's total production mix. The Company is now generating significant revenue and positive cash flow on a monthly basis.

The Company has very low operating and F&D costs, and expects to be profitable at a natural gas price of less than $2.00/mcf.

Edge has now earned or acquired a total of 23 sections of Edmonton Sands natural gas property, each containing one drilled Edmonton Sands well. The Company has executed agreements that allow for up to another 27 sections of prospective Edmonton Sands land to be earned by drilling 1 well on each respective section.