Info about Lexam's oil and gas propertySome infos about Lexam's oil and gas property (taken from the Nov 12th news release):
Oil and gas property status
During the first quarter of 2004, it was announced that an agreement was entered into with a joint venture partner, Petro-Hunt LLC of Dallas, Tex., to conduct additional exploration of Lexam's 100,000-plus-acre oil and gas property located in south-central Colorado over the next two years. During the second and third quarter of 2004, Petro-Hunt conducted a program of two-dimensional seismic data acquisition focusing on processing 60 line miles (97 kilometres) of the newly acquired two-dimensional seismic data and incorporating the data with the 60 miles (97 kilometres) of existing Lexam data regarding the prospect. Currently, over $350,000 (U.S.) has been expended by Petro-Hunt on this program during 2004. Lexam is awaiting an assessment and analysis of the project by Petro-Hunt to determine whether a drilling program on the Colorado property will be undertaken.