LGX Oil + Gas Inc ROAOF

Energy Oil & Gas E&P

LGX Oil & Gas Inc is a junior oil and gas company. The company is engaged in the acquisition, exploration, development, and production of oil and gas properties. Its projects are in Southern Alberta. The company invests in all types of energy business-related assets, including petroleum and natural gas-related assets, gathering, processing, and transportation assets located in Western Canada. LGX is dedicated to delivering growth in reserves and production for its investors through land acquisition, exploration, and development of oil and natural gas resources.

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LGX Oil + Gas Inc

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Comment by DaycareKid007on Oct 24, 2008 2:15am

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Post# 15545148

RE: RE: OPEC

The hardest member to control will be Saudi Arabia. A 2 million barrel per day represents about a 6.2% cut in total OPECproduction. If they are able to control Saudi Arabia's over productionon top of this cut the effective decrease in OPEC output would be about 7.7% or over 2.5 million barrels. Since the Saudis can't be trusted OPEC might have to do what Iran says and do a cut of 2.65 million barrels to really get a hold of this oversupply . Unfortunately when economies recover there will be another runup in oil prices as there are a lot of projects being shelved that were supposed to be bringing on new supply online to help with rising future demand which will be felt once the world resumes growth.

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