LGX Oil + Gas Inc ROAOF

RE: where is RR ?

[Bigbadoil]

Hey folks: My guess is that they have done the N sea component of the reserve report already and they are using that to go to the DTI right now. However Oilexco is a Canadian listed company with Canadian assets which also have to be reported under the regs. My buddy is a engineer in town (Calgary) and he says everybody and their dog are doing this right now (the rules are very complicated) and there is much tooing and frowing between the evaluation comapny and Oil company. i.e. it takes time and remember there are lots of new startups on the scene. The upshot of all this is that Oilexco have to report "all" their reserves (UK and Canadian) under the regs at one time. Old Art may be a little canny here and want to delay this to the last possible moment..why? Good question!So he can argue that the RR has not been completed yet. The cynics amoungst us may suggest that this indicates that the RR will be conservative.. Art is delaying until the rig has drilled a brand new "Brenda" so as to not hit the stock too much..... Another possibilty is that the reserves are TOO F..KING BIG and he doesnt want the big boys to get a look so early...Think takeover my Friends! these are just ideas.. Bigbadun'