Edge Resources Inc. has moved a drilling rig and spudded the first of several planned drilling locations in Primate, Saskatchewan.

Resulting from a recently-shot 3D seismic programme, the Company has discovered what it believes to be three new oil pools in an area the Company calls Asset East. The rig has been brought in to start the development programme of Asset East and is drilling the first of what the Company expects will be many development and delineation wells drilled into these oil pools.

The Company believes these new pools hold a significant amount of reserve value and net present value.

Log and production information from the initial wells can be used to define a much larger developmental drilling programme, which could require up to an additional 80 vertical locations to fully develop the pools.

Tags: Edge Resources