LGX Oil & Gas, Inc. (ROAOF)

[LGL8054]

Highlights:

Latest Bowood Corporate Presentation update: January 26, 2012.
Bowood's First two Alberta Bakken horizontal wells have been drilled and are now on production.

Bowood views the early technical data on our wells as positive first steps toward establishing a commercial development on our lands.

Due to the confidential nature of the wells, industry results are coming out slower than we would like, however we remain committed to releasing our own well information as soon as possible to shareholders. Lengthy operations and flowback of large volumes of fracture fluids before meaningful production rates can be established mean that well results in this play will take longer than in conventional plays.

Bowood enjoys a material Alberta Bakken land position; approximately 110,000 net acres (220 gross sections) in the Alberta Bakken prospective fairway, an area in which industry has spent over $239 MM on Crown land acquisitions since April, 2010.

Net land reflects the October 25th, 2010 closing of the Blood First Nations Land Acquisition of 60,600 acres and the December 7, 2010 announced strategic joint venture and farmout with Legacy Oil + Gas Inc. together with continued land acquisitions by Bowood and its partner Legacy Oil + Gas.

Over 60 wells have now been licensed by industry in the play in Alberta and thirty-nine have rig released to date, 22 of which are on production. In Montana, in the same fairway, thirty-eight wells have been licensed and twenty-three have rig released to date, ten of which are now on production.