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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