Full Press Release Details
| June 27, 2012 | Trading Symbols: LXRP: OTCQB |
| Release # 2012-11 | LXX: CNSX |
30-Day Well Production Results
Vancouver, BC Lexaria Corp (LXRP-OTCQB) (LXX-CNSX) (the
"Company" or "Lexaria") is pleased to announce that the 12-1 and 12-3 wells have
now been producing for more than 30 days and have exceeded expectations.
During the first 30 days of production since the well
workovers, the wells have produced as follows:
| 12-1 Well | 12-3 Well | |
| Barrels of Oil | 3,722 | 2,963 |
| Average Per Day | 124.1 | 98.8 |
The production rates from each of the 12-1 and 12-3 wells
remain higher than those of their original production rates in 2007 and 2008,
respectively. All production figures are unaudited and provided by the Operator,
and long term production rates are expected to be lower.
The 12-4 and 12-5 wells are also producing and selling oil at
their normal rates. Lexaria will release overall production results for the
month of June as soon after the end of month as possible.
During the last three weeks additional field infrastructure
work has also been completed, consisting of the installation of a permanent
metering and control assembly which allows for the supply of piped natural gas
purchased from a permanent supply source.
Lexaria s shares are quoted in the USA with symbol LXRP and in
Canada with symbol LXX. The company searches for projects that could provide
potential above-market returns.
To learn more about Lexaria Corp. visit www.lexariaenergy.com.
| FOR FURTHER INFORMATION PLEASE CONTACT: |
| Lexaria Corp. |
| Chris Bunka CEO/Chairman |
| (250) 765-6424 |
FORWARD-LOOKING STATEMENTS
This release includes forward-looking statements. 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 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 road or
site conditions will be favorable for field work; no assurance that well
treatments or workovers will have any effect on oil or gas production; no
assurance that oil field interconnections will have any measurable impact on oil
or gas production or on field operations, and no assurance that any expected new
well(s) will be drilled or have any impact on the Company. 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 including but not limited to surface flooding 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 and there is
no assurance that the Company will be able to raise required working capital.
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.
The CNSX has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release.