LGX Oil + Gas Inc ROAOF

Oilexco shr value vs replaced depleted reserves

[KeithR39]

good40, very good points in your last comments. I like this one: "Haywood is giving moderate risk for cashflow of $320mm for roughly 4 years using 168mm shares. Brenda would be uneconomical after that point. Their mandate is to replace these depleted reserves" From the Springheel report: "Oct/05 drill Muness 21/4b, Kerr McGee, Oilexco 50%, potentially 20-53MM barrels" Oilexco: 10 - 26MM barrels "Next, Palomino 21/6a, pay 84.21% to earn 50%, $5MM pounds to drill, 40-60MM barrels possible 100MM barrels" Oilexco: 20 - 30MM barrels "Dec/05 Tay, Sterling farmin, cherry picked this one from Sterling’s basket of plays, similar to Brenda, 20-70MM barrels" note: Oilexco interest 65% from Schachter report. Oilexco: 13 - 45MM barrels And dont forget the upside from the coming production Hz drilling on Brenda. TOTAL OILEXCO: Brenda: 30 - 50MM barrels Others: 43 - 101MM barrels TOTAL: 73 - 151MM barrels at $60usd/barrel, we get at least $2cad/shr for every 10MM barrel. So, the reserves figure leads to about... $14 - $30 / shr.