LGX Oil & Gas, Inc. (ROAOF)

[Pennybuster]

Chris



We are in the middle of our strategic alternatives review, a highly competitive process, as we want to evaluate the various options to capitalize the development of the play going forward. It is unfortunately too early in the process to know whether or not the outcome could involve a potential acquisitor or whether it will involve a different form of equity injection. We expect to provide shareholders with an update on the process in the next 4 to 6 weeks. Also, our year end 2011 financials will be released in late April, and our AGM will be in late July or early August.



Robert