Building a Sustainable Exploration Company May 2015
LGX Management Objectives Create a company with sustainable cash flow to internally fund an aggressive exploration and development program, targeting light oil in southern Alberta Cost-effective per share growth in reserves,…
Corporate Profile TSXV Trading Symbol OIL Common Shares 88.7 million Warrants 6.0 million Options 7.0 million Insiders Own Basic & Fully Diluted 20% & 25% LEG Share Ownership (included above) 18% Enterprise Value (share price…
Net Asset Value Per Share NAV Calculation December 31, 2014 (MM except share and per share amounts) Proved Plus Probable Reserve Value NPV10 BT 71.7 (incl. future capital) Undeveloped Land (109,393 acres 225/acre) 24.6 Net Debt…
Cash Flow + Development Inventory+ Exploration Upside Stable, concentrated production base in southern Alberta Strategic light oil asset in Manyberries, AB provides cash flow, exploitation and development drilling inventory Completed…
Southern Alberta Big Valley/Banff BANFF WELL BANFF DISCOVERY WELL IP90: 385 BOPD IP90: 530 BOPD SOUTHERN CURR: 270 BOPD R24W4M SOUTHERN ALBERTA CURR: 65 BOPD E ALBERTA Banff/Exshaw/Big Valley oil system - tight oil CUM: 36 MBBL…
Big Valley and Banff Hz Well Performance 8
Manyberries, AB Upside Opportunities Identified: 46 (40.0 net) vertical and horizontal development drilling locations targeting banked oil in existing pools Numerous well reactivations and water injection conversions Offsetting…
Manyberries, AB Potential Horizontal Drilling Target in Swift Formation 10
Right Team + Right Assets Experienced management team with a proven record of aggressively growing oil and natural gas companies on a cost-effective per share basis Strategically focused on predominantly light oil opportunities in…