Stock Guru LXES Profile
Energy Services Businesses have been called the ultimate business because the upside is so dependable. Energy Services support the drilling industry and this industry is drilling for 174 billion barrels of oil in the oil Sands of Canada.
“Judging by the companies who have released their 2007 budgets it appears spending on oilsands projects will increase considerably in 2007 compared to 2006,” noted Nickle’s Canadian Oil Register.
Nickle’s is a respected publisher in the Oil and Gas Industry. They routinely survey Oil and Gas Companies located in the Alberta Oil Sands. At the time of their latest review eleven companies indicated a rise in their budgets of approximately $14.70 billion over 2006’s estimated $11.66 billion – a difference of $3.04 billion or 26%.
The good news is that as long as oil and gas companies continue to spend on projects to support drilling there will be demand for Lexington Energy Services.
The Alberta Energy and Utilities Board estimates Canadian oil sands reserves at 174 billion bbl. and Lexington Energy Services is producing the cutting edge equipment needed to support the drilling process.
Stay tuned: IEA Report Indicates Continued Strong Demand. This is the ULTIMATE Business in the ULTIMATE Industry!
Source: Lexington Energy Services Inc. Nickles Energy and CAPP
CONTACT: Lexington Energy Services Inc., Mark Procknow, Investor Relations, Calgary, 1-877-279-4550
About Lexington Energy Services Inc.: Lexington Energy Services Inc. manufactures and leases innovatively designed oilfield service equipment. Through their wholly owned subsidiary, Lexcore Services Inc., we also provide a range of drilling services to meet the growing needs of the oil and gas industry, including Alberta’s oil sands.
Forward-Looking Statements: Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See Lexington’s filings with the Securities and Exchange Commission which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
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