LGX Oil & Gas, Inc. (ROAOF)

[Pennybuster]

From Legacy Q4 report.
Legacy, as operator, drilled and completed two strat to horizontal wells in the Big Valley (Three Forks) formation in the southern Alberta Bakken light oil play. Results have been encouraging but in line with an exploratory, early stage play. Both strat wells encountered multiple oil saturated horizons and the horizontal laterals were drilled into a light oil bearing, overpressured reservoir. Technical work continues on analyzing the geological and reservoir model based on the data gathered from these two wells and will be integrated with recent successes other operators have announced in immediate proximity to Legacy's land. Together, all the information will be used to determine the pace of development in 2012.