Edge Petroleum (EPEX) and Chaparral Energy Terminate Planned Merger

December 17, 2008 9:36 AM EST

Chaparral Energy, Inc. announced today the execution of a merger termination agreement between Chaparral Energy, Inc., and its subsidiary Chaparral Exploration, L.L.C., and Edge Petroleum Corporation (Nasdaq: EPEX). The termination agreement provides for both parties to terminate the previously announced merger agreement dated July 14, 2008.

Chaparral and Edge entered into the merger termination agreement following the parties' conclusion that there was no reasonable expectation that all of the closing conditions set forth in the merger agreement would be met on or prior to December 31, 2008, the date on which either party could terminate the merger agreement unilaterally.

Edge Petroleum Corporation, an independent oil and natural gas company, engages in the exploration, development, acquisition, and production of crude oil and natural gas properties in the United States.

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