Edge Resources (LON:EDG) has hired a drill rig for its planned multi-well programme at the Eye Hill project in Saskatchewan.
Work is expected to get underway this month. It will comprise at least three back-to-back wells.
The company has a high degree of confidence in the programme because the drill locations are within a few hundred metres from a prior well that exceeded management’s expectations.
"I am impressed with our team's ability to move so quickly and get a rig mobilised, wells licensed, locations constructed and equipment ordered all on a moment's notice.
“Their agility should allow us to get at least three wells drilled - and hopefully producing - before Christmas,” said chief executive Brad Nichol.
“I am equally excited about the prospect of drilling three more wells that produce just like our latest vertical in Eye Hill East.
“We are drilling these three wells very near the existing producer that exceeded our expectations so we're hoping for a nice surprise on these next three, as well. We expect to update our shareholders on these three wells in January."