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 06, 2009 5:11am

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Post# 15757343

RE: Silly little question

Hi thinice, it would be way to dilutive to existing share holders to issue shares at .15 cents.
They owe RBS near $700 million and $200 million debts as well. Plus now we owe the Admins and taxes and so on. So I guess the answer is NO.
The shares they were going to issue a couple of months ago were going to be at $2.25 each and the board felt that would even be dilutive to the value of existing shares.
Likely the only way the comapny feels they can deal with the debts is the total sale of the UK assets and all of our producing oil fields.
Hope this helps
Karma

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