Edge Petroleum Announces Yearend 1997 Reserve Volumes

Business Wire, Jan 27, 1998

HOUSTON--(BUSINESS WIRE)--Jan. 27, 1998--EDGE PETROLEUM CORPORATION (NASDAQ: EPEX) today reported that Ryder Scott & Co. has estimated its year-end 1997 proved reserve volumes to be 34.3 Bcfe. Total production for 1997, now estimated to be 5.2 Bcfe due to the inclusion of some previously unrecorded natural gas liquids was replaced 5 times by 1997 reserve additions

Edge CEO, John E. Calaway said, "Our record of reserve additions validates our strategy of science- driven, drill bit growth. "Calaway will be speaking about Edge's use of technology Tuesday, January 27 in New York City and Wednesday in Boston at the Jefferies & Company, Inc., Independent Producers Conference."

Edge Petroleum Corporation is a Houston-based independent energy company that emphasizes the integrated application of advance 3-D seismic data integration and visualization techniques to improve its ability to effectively explore for natural gas and oil along the onshore Gulf Coast of the United States.

Statements in this news release, including but not limited to those relating to reserve volumes, per well production rates, other statements that are not historical facts are forward looking statements that are based upon current expectations. Although Edge believes that its expectations are based upon reasonable assumptions, it can give no assurance that these expectations will prove correct. Factors and risks that could cause actual results to differ from expectations are described in the Company's filings with the Securities and Exchange Commission.

CONTACT: Edge Petroleum Corp.

Michael G. Long, 713/654-8960