| Edge Petroleum Corporation | |||
| Ticker: | EPEX | 1111 Bagby, Suite 2100 | |
| Exchange: | NASDAQ-National Market | Houston, TX 77002 | |
| Industry: | Natural Resources (SIC Code 1311) | (713) 654-8960 | |
| Type of Shares: | Common Shares | Filing Date: | 12/4/96 | |
| U.S. Shares: | 2,400,000 | Offer Date: | 2/25/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $15.00 - $17.00 | |
| Primary Shares: | 2,400,000 | Offer Price: | $16.50 | |
| Secondary Shares: | 0 | Gross Spread: | $1.15 | |
| Offering Amount: | $38,400,000 | Selling: | $0.67 | |
| Expenses: | $1,800,000 | Reallowance: | $0.10 | |
| Shares Out After: | 6,682,000 |
| Manager | Tier | Phone |
| Raymond James & Associates, Inc. | Lead Manager | (813) 573-8108 |
| Jefferies & Company Incorporated | Co-manager | (212) 903-2342 |
| Principal Financial Securities, Inc. | Co-manager | (214) 880-8083 |
| Issuer's Law Firm: | Baker & Botts |
| Bank's Law Firm: | Vinson & Elkins |
Dollar amounts in U.S. millions except for per share data | |||||
| 9 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 9/30/96 | 9/30/95 | 9/30/96 | ||
| Revenue: | $2.04 | $5.11 | $1.38 | Assets: | $18.43 |
| Net Income: | $1.08 | $0.40 | $1.22 | Curr Assets: | |
| EPS: | $0.23 | $0.09 | $0.26 | Liabilities: | $17.02 |
| Prior EPS: | $0.21 | Curr Liabilities: | |||
| Cash Flow/Oper: | Equity: | $1.41 | |||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company explores for oil and natural gas by emphasizing the integrated application of highly advanced data visualization techniques and computerized 3-D seismic data analysis to identify potential hydrocarbon accumulations. The company believes its approach to processing and analyzing geophysical data differentiates it from other independent exploration and production companies and is more effective than conventional 3-D seismic data interpretation methods. The company utilizes a fully integrated, client-server environment including nine workstation nodes with a high performance Silicon Graphics server. This hardware configuration enables the company to utilize advanced interpretation software, including both Earth Cube and Voxel Geo technology. |
| Competition |
| The company encounters competition from other oil and natural gas companies in all areas of its operations, including the acquisition of exploratory prospects and proven properties. The company's competitors include major integrated oil and natural gas companies and numerous independent oil and natural gas companies, individuals and drilling and income programs. Many of its competitors are large, well-established companies with substantially larger operating staffs and greater capital resources than the company's and which, in many instances, have been engaged in the oil and natural gas business for a much longer time than the company. |
| Business Plan |
| The company's business strategy is to expand its reserves, production and cash flow through a disciplined, integrated technology-based program of exploring for oil and natural gas which emphasizes the following key components: 1) focused exploration; 2) technological expertise; 3) sophisticated and experienced technical team; 4) prospects with attractive risk/reward balance; 5) control over critical exploration functions. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay indebtedness, to provide working capital and for general corporate purposes including funding the company's 3-D seismic data acquisition, exploration and development activities. |