Edge Petroleum Corp. announces sale of stock on exercise of underwriter's over-allotment option

Business Wire, March 17, 1997

HOUSTON--(BUSINESS WIRE)--March 17, 1997--Edge Petroleum Corp. (NASDAQ:EPEX) today announced it has completed the sale of an additional 360,000 shares of common stock in accordance with the exercise by the underwriters of their over-allotment option in Edge Petroleum's recent initial public offering.

The underwriting syndicate, managed by Raymond James & Associates, Jefferies and Co. Inc., and Principal Financial Securities Inc., priced the sale of 2.4 million common shares at $16.50 on Feb. 25, 1997.

The additional $5,524,200 in net proceeds from the offering will be used to fund the company's capital expenditure program, which includes an advanced 3-D seismic program along the onshore Gulf Coast, its exploration drilling program and development of its natural gas and oil resources.

Edge Petroleum Corp. is a Houston-based independent energy company that emphasizes the integrated application of advanced data visualization and interpretation techniques to increase its ability to explore for natural gas and oil along the Gulf Coast of the United States.

CONTACT: Edge Petroleum Corp., Houston

Michael G. Long, 713/654-8960