http://www.edgeres.com/

Edge Resources starts trading on AIM on the 5th July 2012
Western Canada-focused oil and gas explorer and producer Edge Resources has started trading on AIM. Edge will continue to be listed and traded on the TSX Venture Exchange.Edge Resources is an oil and gas exploration, development & production company currently focusing on exceptionally high reserves-in-place. The Company is focused on shallow, conventional, vertical, low-risk, low-cost formations in Alberta and Saskatchewan, Canada. The Company's strategy is to aggressively add to its land and reserves base when the cost of such additions are extremely favorable.

Projects
http://www.edgeres.com/projects/primate

27 Nov SP Angel 16.00 Buy
27 Nov Sanlam... 10.00 Buy

Edge Resources chief has "nothing but confidence" despite lower oil prices

By Jamie Ashcroft

November 27 2014, 1:57pm
Edge Resources chief has 'nothing but confidence' despite lower oil prices

Onshore Canadian oil firm Edge Resources (LON:EDG) revealed a 19% rise in first half oil and gas sales, bringing in $5.8mln in the six months to September 30.

Despite the falling oil price, Edge chief executive Brad Nichol told investors the company has "nothing but confidence in the path forward."

In this morning's interim results statement, he said: "We are very pleased with our half-yearly results, as we held our own despite a falling oil price - which started the quarter at $105/bbl and ended the quarter at $91/bbl - and a temporary production issue that occurred and was resolved during the second quarter.

"Even with these challenges, we exited the first half of our financial year with a Netback above $40/bbl and with more cash and a higher production rate than when we started the quarter."

Nichol added that, in hindsight, the group's "wait and see" approach to capital spending was an excellent choice even if it meant less drilling activity.

Nevertheless, he says the company remains very excited about the significant number of wells that can be drilled at the flagship Eye Hill project.

"This view has been reassured by the robust production from the wells we drilled last year and that are still producing at roughly the same -or better - levels than almost one year ago."

Among the group's forward plans will be the construction of a water disposal facility which will enable a scaling up of longer term drilling, it will also allow an increase in production from existing wells. The programme is described as an important step in establishing a "bigger blueprint" for Eye Hill. The work will be funded through an agreed bank facility.

Edge told investors it generated $1.24mln of cash from operating activities in the six month reporting period, up from $850,000 in the same period of 2013.

It banked a net income of $170,000 versus a $246,000 net loss last year.

Operating costs were down to US$18.52 per barrel versus $20.42 in 2013, whilst at the same time net back from oil sales increased to $45.37 per barrel from $44.42 - it received $2.54mln in H1 2014 versus $2.06mln last year.

"With oil prices at current levels, a supportive credit provider, the company’s focus on cost control and higher return drilling programmes means that Edge is better able to face the next period," said Zac Philips, analyst at SP Angel.

The City broker repeated a 'buy' recommendation, but reduced the target price to 16p from 19p - current price: 6.2p.

Completion of New Facility & Operational Update

http://www.moneyam.com/action/news/showArticle?id=4966280
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28 Jan SP Angel 12.00 Buy