LGX Oil + Gas Inc ROAOF

RE: ONSL for sale or..

[Karmanow]

ONSL is for sale, not Oilexco Inc.
IMO, the assets of Oilexco North Sea (ONSL) is for sale by EandY (we are in creditors protection and not bankruptcy) and it is my belief that their assets will fetch a very good amount. That being said, enough to settle bank debts and other debts. Now that Oilexco Inc, is in the canadian version of Admin, there will be time for the Admin in the UK allow the due dilligence process and sale to occur. It should be complete by the end of March. I have a very large interest in this company and in my own due dilligence I remain confident that we will be ok after the sale. The Oil Inc. will get the procedes after debts and remember they have a percentage in 10 new oil leases in the North Sea. We are going to have to be patient and watch the drama and politics unfold here. Oil Inc. is very good at finding oil and when all is said and done, you will have a chance to sell your shares or stay invested in the restructured company that comes out of the admin in canada. Some people are not so optimistic as I am, but if the share price drops I will be buying more. This process has scared alot of people, but imo where we are now based on how aggressive RBS has been is ok with me..

We have had some "Notable Bids" come in from some major oil players, so I hope they want our oil and assets as much as we want their money.

hope this helps

Karma