LGX Oil + Gas Inc ROAOF

Shelley

[TO1]

“The only data we know, is that the first 8 legs were drilled on an approximate 7 sq. km structure, with one leg testing about 3k bopd, from only 34 feet of pay. 31 degree API, which won't trade at a premium to Brent.” The 34 feet of pay, in the Phase 1 drilling, at Shelley was on the edge of the prospect. It was never flow tested at the thickest section of the SUCCESSFUL phase 1 Shelley drilling. As for the 31 degree API. Who gives a sh@t if it trades at a premium to Brent. Look at oil prices. So what if Shelley trades at a US$4 discount to Brent. I’ll take $86/bo for Shelley and any other field production any day! Shelley will still be a CF machine. For someone obsessed with trying to put down Shelley at all costs, you haven’t said anything yet on Huntington. If I were you, that is the one I would worry about considering it’s potential size and news coming out soon. “There is a chance that the few top feet of Balmorals' reservoir may be extracted, no appraisals yet, and nothing in the drilling schedule.” “few top feet may be extracted?” I like how you chose your words. You really have no idea how many feet are left to be extracted at Balmoral so drop the cr@p. I’ll take the word of management that has already seen and produced from the reservoir as opposed to someone that hopes there is only a few feet remaining and posts it as if it’s a fact. You've never seen it so how can you comment on the feet remaining? The deal for the Balmoral facilities and the field itself have not been finalized yet. So how can you create a drill schedule for something that you are not the operator of? When they deal gets finalized they get to drill Balmoral and they also get the 1,800 bod it is already producing. Oilexco will tell you this if you get off you’re lazy a$S and phone them like I did. The drilling will happen soon after they become operator of Balmoral, so a lot sooner than when Shelley comes online. But first the deal has to close. Also, Talisman is tying in the Burghley field into Balmoral at 10k/d and they will pay Oilexco a tariff of 8 pounds/bo or about CAD$30 million in the initial year to process their crude. Looks like the Blenheim and Bladon field redevelopments are going to be connected into Balmoral for more tariffs as well. Just more CF to the bottom line! “Imo, they first have to reach 30k bopd, before they can average 30k bopd.” Read the Q3 report. The “Operations” section clearly states that Brenda did hit rates over 30k/d during the quarter. “Checking the DTI field production, it shows Brenda as around 21,144 bopd and Nicol around 3,385 bopd, of which 30% is owned by JV's.” These numbers have already been implied in the Q3 numbers through the average production values. How is this any new information? This is the average monthly flow for August. If you don’t know when the Forties pipeline problems and the Balmoral maintenance timelines in Q3 were then the production numbers mean nothing b/c you can’t know how and when they were effected in % terms by the infrastructure issues.