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Wall Street Grand Report
Company: Lux Energy (OTC BB: LUXE)
Alert PPS: $0.77
If anyone missed our original alert on LUXE this is the time to pay attention and make a move! LUXE is starting to breakout and looks poised to head higher in the near future! LUXE which we alerted the club at a initial PPS of $0.77 is currently at $0.91 by $0.94 and starting to breakout! Don’t waste any time and put this on your radar RIGHT NOW!
As everyone is aware oil has been strong recently heading back to $80+ and towards our prediction of $100 a barrel. I believe a lot of virgin oil Company’s like LUXE may capitalize on this oil run and we could see many of them make substantial gains in the near future. Research LUXE and don’t miss out on this potential run!
Take a look at the chart. As you can see LUXE has found a bottom and has been inching up since our alert and looks ready to finally to potentially breakout again! Congrats if you were able to get in after our initial alert! If you have been on the sidelines check it out:
Also, LUXE just had breaking news recently that I hope everyone took a look at-
LUXE reported that it has signed a Letter of Intent with Dejour Alberta Energy Ltd. "DEAL", a subsidiary of Dejour Enterprises (TSX, NYSE: DEJ ), for a 1.5% working interest in DEAL’s producing Woodrush and Drake properties in Northern British Columbia.
Woodrush and Drake are key producing properties in northern British Columbia, 60 miles due north of Ft. St John. The properties comprise five separate leases totaling 4,000 acres, on which three separate reservoirs are produced through six wells. In addition to the wells, DEAL owns and operates the production gathering system and a state-of-the-art sour oil and gas production facility sized to handle more than 1000 BOPD and 3 MMCFD.
Shane Broesky President and CEO of Lux Energy commented, "We are very pleased to enter into a working partnership on such a promising project as Woodrush and Drake, with successful operators like Dejour. Management believes that this acquisition will increase the Company’s value and strengthen future revenues. This is another step in Lux’s ongoing strategy of building a robust Company through the acquisition of profitable, producing oil and gas properties."
Investment in the production facility at start up was in excess of CAD$ 6.5 MM and it is sized to handle the full development of the gas and oil pools located under the umbrella of DEAL properties. Production facility at Woodrush began in April of 2008 and is currently yielding restricted flows of net 400 BOE/d.
A new oil well will be spudded early in December, 2009, slated for production by January, 2010 and a state of the art 3D seismic program is currently being conducted by Dejour prior to the drilling of up to 2 additional wells in March 2010, targeting April 2010 production close to 800BOE/d. Three future gas and 3 addition oil wells are planned for the 2010-11-12 drilling season.
Dejour is targeting $20MM in gross revenues from this project in 2010. With a successful three well drilling program in 2009/10 NPV-10 values are expected to double to $40MM by the end of the current drill season.
Remember, this is just the beginnig for LUXE and we could see a lot more potential news like this in the near future!
What is also impressive is the fact that LUXE is capitalizing from their Natural gas production! Just recently, LUXE stated their production improved by 75%!
Also, another factor that I found interesting is the fact the Company announced that on Dec. 1st they will be doing a 3 for 1 split! This could mean double the gains potentially and Dec. 1st is right around the corner! There could be a rush into the issue before Dec. 1st!
Lux Energy Corp. is an oil and gas production and exploration company focusing on developing oil and gas resources in North America. Further information and news releases are available at www.luxenergycorp.com.
More Updates To Come …
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