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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.


GREY:ROAOF - Post by User

LGX Oil + Gas Inc
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Comment by nlr2on Feb 04, 2015 11:02pm
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Post# 23397833

RE:RE:RE:RE:RE:ah ha

RE:RE:RE:RE:RE:ah haI had to bail today. The well results were much worse than I had expected. The type curve for these wells to be economic, according to Torc anyways, has an IP30 of 600 boe/d. So when both wells together don't add up to this there is a serious issue. They clearly don't have as good of understanding, or the sweet spot of the play, as Torc. In a normal oil market I would have maybe rode it out.

The larger issue is with the shortfall in production the debt levels become a real concern. So for me, and for peace of mind, I bailed. I will still actively follow the company, as I'm interested to see what sort of drilling plan they cobble together to met their drilling obligation in 2015.

Good luck to everyone who continues to hold.
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Dealroom for high-potential pre-IPO opportunities