Lexaria Corp.: Horizontal Well Delay Due to Weather
November 13 2009 - 3:05PM
Business Wire
Lexaria Corp. (OTC BB: LXRP, CNSX: LXX) (the "Company" or
"Lexaria") Lexaria Corp. announces that its Operator in
Mississippi, Griffin & Griffin Exploration LLC, has declared
force majeure on the Belmont Lake offset wells at this time.
The National Weather Service River Forecast Center projects the
high water levels to gradually recede beginning as soon as
tomorrow, November 13th. However due to the uncertainty inherent in
weather forecasting, field activities are temporarily suspended
until such time as drier conditions permit the safe drilling of the
next well.
About Lexaria Corp.
Lexaria Corp. is an oil & gas company active primarily in
Mississippi, where it holds between 32% and 60% gross working
interests in various gas and oil projects. Lexaria routinely
evaluates additional oil & gas projects and corporate
opportunities.
FORWARD-LOOKING
STATEMENTS
This release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
Statements which are not historical facts are forward-looking
statements. The Company makes forward-looking public statements
concerning its expected future financial position, results of
operations, cash flows, financing plans, business strategy,
products and services, competitive positions, growth opportunities,
plans and objectives of management for future operations, including
statements that include words such as "anticipate," "if,"
"believe," "plan," "estimate," "expect," "intend," "may," "could,"
"should," "will," and other similar expressions are forward-looking
statements. Such forward-looking statements include but are not
limited to the drier weather conditions needed to recommence field
operations. Such forward-looking statements are estimates
reflecting the Company's best judgment based upon current
information and involve a number of risks and uncertainties, and
there can be no assurance that other factors will not affect the
accuracy of such forward-looking statements. It is impossible to
identify all such factors but they include and are not limited to
the existence of underground deposits of commercial quantities of
oil and gas; cessation or delays in exploration because of
mechanical, weather, operating, financial or other problems;
capital expenditures that are higher than anticipated; or
exploration opportunities being fewer than currently anticipated.
There can be no assurance that expected oil and gas production will
actually materialize; and thus no assurance that expected revenue
will actually occur. There is no assurance the Company will have
sufficient funds to drill additional wells, or to complete
acquisitions or other business transactions. Such forward looking
statements also include estimated cash flows, revenue and current
and/or future rates of production of oil and natural gas, which can
and will fluctuate for a variety of reasons; oil and gas reserve
quantities produced by third parties; and intentions to participate
in future exploration drilling. Adverse weather conditions can
delay operations, impact production, and cause reductions in
revenue. The Company may not have sufficient expertise to
thoroughly exploit its oil and gas properties. The Company may not
have sufficient funding to thoroughly explore, drill or develop its
properties. Access to capital, or lack thereof, is a major risk.
Current oil and gas production rates may not be sustainable and
targeted production rates may not occur. Factors which could cause
actual results to differ materially from those estimated by the
Company include, but are not limited to, government regulation,
managing and maintaining growth, the effect of adverse publicity,
litigation, competition and other factors which may be identified
from time to time in the Company's public announcements and
filings.
Lexaria Bioscience (CSE:LXX)
Historical Stock Chart
From Jan 2025 to Feb 2025
Lexaria Bioscience (CSE:LXX)
Historical Stock Chart
From Feb 2024 to Feb 2025