LGX Oil + Gas Inc ROAOF

7tapas

[REAPER]

OK i'll call you paraniod. as a rule of thumb most companies out of common courtesy to other companies in the area put out press releases when they have drilled a highly speculative dry hole offsetting upcoming land sales. this practice has been done for years. unfortunately cheryl was proved unecomomic with the drilling of the first location using their much touted seismic and avo interpretations. my thoughts about the economics of brenda 1 is a max.value of $24.3 million US as per the sproule report. if Brenda 1 was any bigger it would have taken OIL about a week to commission a new report from sproule to support any claims that B1 had proved up any additional reserves.meanwhile the whipstock is chewing up the remaining cash and i would be concerned that there won't be enough cash to drill a fourth well (this current operation we'll call well #3)if the side track is uneconomic I am convinced that OIL will suspend NS drilling operations and preserve whatever cash is left to use in their domestic operations for the next 5 years (like toto said cc has made 10's of millions on this play already). these are my predictions, not bashing just looking into the crystal ball if cheryl is uneconomic.