HOUSTON, March 28 /PRNewswire-FirstCall/ -- Edge Petroleum Corporation (NASDAQ:EPEX) announced the declaration of a dividend on its 5.75% Series A Cumulative Convertible Perpetual Preferred Stock ("Preferred Stock"). The Board of Directors declared a cash dividend of $0.59896 per share, or $1,722,010.00, on the outstanding Preferred Stock, payable April 15, 2007, to stockholders of record at the close of business on April 1, 2007.
The first dividend for the Company's Preferred Stock represents the partial period from the original issuance date through April 15, 2007.
Edge Petroleum Corporation is a Houston-based independent energy company that focuses its exploration, production and marketing activities in selected onshore basins of the United States. Edge common stock and preferred stock are listed on the NASDAQ Global Select Market under the symbols "EPEX" and "EPEXP," respectively.
Statements regarding production volumes, drilling activity, price weakness, hedging levels, increased production, future and continuing growth, cash flow, funding of capital needs, production rates, future oil and gas prices, debt levels, production and earnings, and other statements that are not historical facts contain predictions, estimates and other forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although the Company believes that its expectations are based on reasonable assumptions, it can give no assurance that its goals will be achieved. Important factors that could cause actual results to differ materially from those included in the forward-looking statements include the timing and extent of changes in commodity prices for oil and gas, the need to develop and replace reserves, environmental risks, drilling and operating risks, risks related to exploration and development, uncertainties about the estimates of reserves, competition, increased costs and delays attributable to oilfield services and equipment, government regulation, effects and risks of acquisitions, and the ability of the company to meet its stated business goals. DATASOURCE: Edge Petroleum Corporation CONTACT: Michael G. Long, Chief Financial Officer of Edge Petroleum Corporation, +1-713-654-8960 Web site: http://www.edgepet.com/
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