LGX Oil & Gas, Inc. (ROAOF)

[H8ster]

Its a give/take situation. Good for some, bad for others. There is the '1:10 rights offering' that, if you have extra money, you can ease the sting of the reverse split by having the right to buy more shares at a cheaper price (.12) and average down. For every 10 shares of Bowood, you get the opportunity (the right) to buy 1 share of BWD at .12.

As for the rest of the deal, by getting out of the farm out agreement with Legacy, Bowood regains 100% of all of its assets which will make it easier for them to sell the company to ANYONE! Before, their only option would of been selling to Legacy. Now, with Legacy owning 37% of the common stock, selling to another company is in their best interest as well as ours.

For me, all and all, I think its a decent deal. I think the 20:1 consolidation sucks. I think the 1:10 rights offering is OK. I will exercise the rights and buy what is possible.

Also, I'm glad to see that Bowood's management will be gone. Legacy, being at the controls, will do whats best for their 200 million shares, which in turn will be whats best for us. I hope.