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 Karmanowon Feb 04, 2009 9:22pm

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Post# 15753342

RE: RE: Jessc.Why do u think they have backing?

Hi Jess, pls relook at the debt, I see 1.1 billion?
The article says $547 american + $100 million pound predevelopment credit facility? and $200 million for other known debts plus lets say $30 million for E&Y .
I get 1.1 billion can debt - 1.7 can sale = $600 mill can / 227 million shares = $2.65 canadian
less any tax implications.
Comments pls.
I also read in the 3rd Q report that there was $23 mill on hand plus Oil pumped for 3 months at 15000 barrels x $10 per barrel x 90 days(jan 1-mar 31) = $ 13 million more or .6 cents per share

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