Guildhall, operating as Edge Resources, has completed drilling the Company's second Edmonton Sands well. The well was drilled vertically and conventionally without incident and encountered multiple zones within the Edmonton Sands group. The Company utilized the same "Super-Single" Automatic Drilling Rig (ADR), which continues to perform very well and has now moved to the third location in this recently expanded Edmonton Sands drilling program.
The Company recently doubled the size of this current Edmonton Sands drilling program and is aggressively pursuing "five star" additions to its existing Edmonton Sands land-base, either through acquisitions or farm-in deals.
Drilling on the third well commenced on Tuesday, July 21 and the Company anticipates drilling to be completed before the end of the week.
The Company's fourth and final well of this program is planned be drilled early next week and the Company intends on utilizing the same ADR and crew for the entire four well drilling program.
The Company intends to perforate all four wells after the entire drilling program is completed, in a continued effort to maximize the efficiency from its operations.
Brad Nichol, the Company's President and CEO commented, "We are very pleased with how well things have gone with the current program and are especially pleased with Champion Drilling's (a division of Ensign Drilling Partnership) ADR equipment and personnel. Additionally, Barlon Engineering has done an exceptional job with engineering and supervision. In an industry facing difficult times, it is great to see high calibre people continually raising the performance bar to new levels. This will undoubtedly translate into value creation for our shareholders."
The Company also reports that, at its recently completed annual general and special meeting, the shareholders of Edge Resources unanimously approved the official change of name of the Company from "Guildhall Minerals Inc." to "Edge Resources Inc." in order to better reflect its current business and resolved to continue the Company into the province of Alberta, the location of its current drilling opportunities.
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