Stock Guru LXES Profile
On February 28, 2007, Lexcore entered into an agreement to provide drilling equipment and personnel to Japan Canada Oil Sands Limited (”JACOS“) for a drilling program in Alberta, Canada.
Lexcore and JACOS have agreed that each well within the drilling program shall be drilled to a depth of approximately 400 meters, or to the Devonian formation, whichever is deeper, but Lexcore shall not be required to drill any well below a maximum depth of 500 meters.
Coring at intervals specified by GPS location by the exploration company provides the exploration company the best information to determine the quality of the oil sands for drilling. The information provided from the coring is crucial in determining where Steam Assisted Gravity Drainage operation will be most effective.
JACOS employs SAGD (Steam Assisted Gravity Drainage) operations and operates the 10,000 barrels per day Hangingstone project, 50km south of Fort McMurray.
In addition to our current operations, JACOS holds the rights to leases covering approximately 40,000 ha in the Athabasca region for future development. These leases include the Hangingstone, Chard, Corner and Thornbury areas which are expected to contain approximately 2 billion barrels of recoverable oil sands resource.
Source: Lexington Energy Services Inc
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.
Disclosure: Pentony Enterprises LLC has been compensated $48,000 and expects to be approximately 130,000 freetrading shares and $32,000 by noncontrolling third party Alliance World Limited for profile coverage. Pentony Enterprises LLC is not a registered investment advisers or broker/dealers. Pentony Enterprises LLC makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person or that an investment such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk.StockGuru.com is owned and operated by Pentony Enterprises LLC, 9555 Lebanon Road, Suite 103, Frisco, Texas 75035. Telephone: (214) 458-4258. Web: StockGuru.com. Email: Publisher@stockguru.com .