Based in Alberta and Saskatchewan, the company announced that its pre-tax loss had narrowed to $1.8m (£1.1m) for the year ending 31 March, from $6.8m a year earlier, as revenue increased 19 per cent to $10m, from $6.8m.
Total expenses fell 34 per cent to $9.5m, from $14.3m last year.
President and chief executive Brad Nichol said: “The last year has been an exceptional period for the company with oil production leading to record revenue levels as a result of a very successful drilling programme that utilised the proceeds from our over-subscribed November 2013 share offering.
“The decision taken in 2012 to focus on increasing oil exploration and production is paying dividends – and it is a direction and policy we intend to follow with increasing vigour going forward.”
Despite the results, Edge Resources shares closed down 13 per cent to 11.59p yesterday.