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 zagorskon Mar 24, 2014 12:21pm

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Post# 22359386

RE:someone desperate to get out?

RJ was a big player when they issued shares at 86 cents to buy Manyberries (54M shares) and later when they issued 6M at $1.00. I think RJ likely has a bunch of shares in storage that they could not sell when the deal was done. How much more might they have is open to guessing.

I am not happy to see that we could not get a little bump from the reserve report. (in fact a loss) but I suppose the Sage Grouse issue weighs on the stock along with the brokerages who underwrote the deal and have been looking to get out for some time now. Typically underwriters will take a loss and move on to other deals rather than become an investor.

I am still pretty comfortable holding LGX because of the good report and the high NAV. Having LEGACY as a large shareholder I also view as a positive.

Bullboard Posts

From now on, dynaCERT instead of Bitcoin or NVIDIA?