Edge Completes Second Saskatchewan Well in Spring Campaign

Edge Resources Inc. has finished drilling the second well of the Company's Spring drilling program in Primate, Saskatchewan. The well was successfully drilled and cased without incident and is now being prepared for production.

The horizontal well was drilled into a new formation and cased with a slotted liner in 1,624 feet (495 meters) of horizontal pay. Completion and equipping operations will commence immediately and continue during breakup. The rig was released to an all-weather rack site as Spring break-up conditions would not allow the rig to be moved to another drilling location.

Brad Nichol, President and CEO of Edge commented, "We are very pleased that the drilling of our first horizontal well in a new horizon has gone so smoothly and quickly. I must credit our operations and drilling team who utilized their many years of experience and planned this operation meticulously. With continuous oil shows throughout the entire 495 meters of horizontal leg, we are very keen to start producing this well. Given that breakup is almost upon us, we are taking the extra step of building a permanent road so that the well can produce without interruption throughout break-up."

"We anticipate that successful production testing will support several additional horizontal drilling locations, specifically targeting the new horizon. We certainly have the undeveloped land-base to support a large program and are eager to get started," Nichol added.

The Company has a 100% working interest in 20 sections (12,800 acres) of land in Primate, Saskatchewan.

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Edge Resources Spuds Saskatchewan Well

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

Resulting from a recently-shot 3D seismic program, 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 program 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 program, which could require up to an additional 80 vertical locations to fully develop the pools.

Brad Nichol, President and CEO of Edge commented, "We are excited to continue upon our initial drilling and seismic successes resulting in the initial pool discoveries. Now the team is focused on the longer-term development of Asset East in Primate. Along those lines, we are also pleased to have received final approval for a water disposal program in Asset East, which fits very nicely into the long-term development plan for these pools."

As a key component to the full development plan for Asset East, the Company is very pleased to have recently received approval to inject produced water, if required, into a nearby existing wellbore on Company-owned lands. If water disposal is required, this approval is anticipated to drastically reduce the cost of water handling as the field is more fully developed.

The Company has a 100 percent working interest in all of their Primate, Saskatchewan properties - a total of 20 gross/net sections (12,800 acres).

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Xtra Energy Wraps Up Core Hole Drilling Program in Saskatchewan

Xtra Energy Corp. successfully completed the drilling of its previously announced three core hole oil shale exploration and drilling program on its unconventional oil shale property located in Pasquia Hills, Saskatchewan, Canada.

The three core holes were drilled across the Xtra Energy's oil shale permit which encompasses a total of 86,533 acres targeting an identified "sweet spot" to examine, optimize information and further delineate the oil shale deposit and to determine the primary mine site for the establishment of a Shale-to-Liquids Production Plant Facility. Detailed geological logging of the three cores holes were conducted and Xtra Energy has been informed by its on-site geologist that oil shale cores have been extracted and recovered from the White Speckled Shale of the late Cretaceous period, the target reservoir from all three of the core holes as result of the oil shale core hole drilling program.

The collected oil shale core samples were shipped and have been received by Core Labs of Calgary where the cores will be cut horizontally and an initial inspection and analysis will be conducted.

The results of the core hole drilling, geological logging and the initial inspection and analysis which will involve visually confirming the amount of meters of core recovered and making a preliminary analysis of hydrocarbon indicators is expected to be completed in the next two weeks.

Xtra Energy's Pasquia Hills oil shale property has undergone two previous successful exploration and development core hole drilling and analysis programs, involving the previous drilling of a total of 13 core holes on the company's oil shale permit. A total of 150 meters of oil shale core samples have been analyzed at a total project cost of over $1.5 million dollars. In addition, water well log data, plus the results of the drilling of an additional thirteen Sun Oil (now "Suncor Energy") core holes located within the mapped area, as well as published Saskatchewan government information have extensively delineated the Company's oil shale resource deposit.

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