FINANCING - SPEC 15 / Lexxor Energy raises Exploration Funds
CALGARY, Jan. 7 /CNW/ - LEXXOR ENERGY INC. has raised a total of $2.04
million through the private placement of flow through shares prior to year
end. The Company sold 1.77 million Class 'A' flow through shares at a price
of $1.15 per share. At December 31, 1997, Lexxor had 8.88 million Class 'A'
shares issued and outstanding.
Proceeds from the offering will be applied to Lexxor's active 1998
drilling program including a multiwell natural gas exploration project on an
8,000 acre farm-in recently acquired in northwestern Alberta. Drilling is
also planned at Conroy, Little Bow, Mikwan, Altario, Oyen and at Cardiff,
where Lexxor, with a 50% working interest, recently cased a dual zone oil and
gas discovery.
Lexxor Energy Inc. is a Calgary-based oil and gas exploration company
which trades on The Alberta Stock Exchange, symbol LXX.A. |
