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LGX Oil + Gas Inc. Message Board

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  • mutinycapital mutinycapital Mar 21, 2012 9:28 PM Flag

    From Legacy Q4 report

    Legacy actually talks more about the SAB play in their latest investor presentation that went up yesterday. It used to barely get a mention. The one thing I can't get over is the price. The land value alone should be worth more than $.50/sh based on current rates. Murphy and Argosy have both hit big wells nearby. This should be a slam dunk sale, yet the stock price keeps going down. I don't get it.

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    • Our great and "technical expirienced" JV partner spent 12M per well for much science and testing two cores Bakken ( Exshaw ) and Second White Specks, but latest positive results from DTX, MUR and Argosy show us that the real target isn´t Exshaw and Second White, but Big Valley ( Three Forks equivalent).
      IMHO LEG hasn´t unlock SK Bakken, hasn´t unlock Manitoba Spearfish, they only aquired succesful operators in these plays (Connaught Energy, Renegade, Bonavista, Molopo). I think the best partner for BWD would be Torc. - they have real technical skills and great track record from SK Bakken with Tristar Oil and gas, aquired in 2009 by PBK.

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