LGX Oil + Gas Inc ROAOF

Field capable of 35,000 boe/day

[TheOilBaron]

Thanks NorthSea. Couldn't have said it better myself. You missed the part where Oilexco begins PRODUCTION of 35,000 barrels in 30 days or less .There is the fundamental difference between both companies Oilexco vs Steling. The Brenda manifold-subsea pump-control package and the Nicol control package have been installed on the seafloor. Subsea pipelining from the Nicol Field to the Brenda manifold (10km), and from the Brenda manifold to the Balmoral production facility (8 km) has been completed. Divers will now complete all the necessary hook-ups of the subsea equipment. The news from 21/23 itself isn't awful. Oil was discovered close to 1.3 km's from there previous well.Of course those fixated only on big flow rates would be disappointed, which is flawed thinking . Why do i say it's flawed thinking ? Simply think back . Before Oilexco took over ownership of the 15/25b block they was a well previous drilled by ConocoPhillips that only flow only 2400 bbls per day . Oilexco's first well at 15/25 Brenda wasnt a huge flower . January: “Brenda” oil find announced. The 15/25b-6 well (“Brenda”) tested 40° API oil at an average rate of 2,980 bbl/d through a 40/64” choke We now see that the field is capable of flowing over 55,000++++ barrels per day .Those 2000 to 3000 barrel a day original flow tests turned out capable of flowing 10,000 to 20,000 barrels per day when the field was developed . I say let them digest there info at 21/23 and don't fixate on flow rates . When they decide to develop it , they will production flow test then you will see much higher rates ala Brenda . You would think some people would have learned this by now.Funny to see people time ands time again fall for the same old tricks .