LEXAM BEGINS 3D SEISMIC SURVEY IN COLORADO;
TO FURTHER REFINE DEEP OIL & GAS TARGETS!
(All amounts are expressed in Canadian dollars.)
Toronto, Ontario – February 1, 2007 Lexam Explorations Inc. (TSX-V: LEX)
is pleased to announce that its 25 square mile 3D seismic survey began on
January 15th at the Baca Oil and Gas project in south-central Colorado. The
survey is expected to cost a total of $1.8 million. The Baca project is located
approximately 72km southwest of the Florence Field and 175km northeast of
the San Juan Basin.
The 3D seismic survey is designed to help Lexam confirm and refine the deep
targets that have been identified through the extensive use of 2D seismic and
to explore the potential for finding gas in the lower Tertiary section of the San
Luis Basin.
The Dakota Sandstone of Cretaceous age is the primary target of Lexam’s oil
and gas exploration in the San Luis Basin. Regional well data from adjacent
basins suggests that the expected thickness of the Dakota in the targeted
area ranges from 50 ft to 120 ft, with porosities of 15 to 21%.
This is the first time that a 3D seismic survey has been performed on the Baca
Oil and Gas project and it is anticipated that the results will enhance the
Company’s geological knowledge and aid potential drilling. Lexam anticipates
the survey, along with data processing and analysis, will take 120 days to
complete.
About Lexam
Lexam Explorations is a North American based energy exploration company.
Lexam's shares are publicly traded on the TSX-Venture Exchange under the
symbol LEX. The company is advancing the Baca Oil & Gas Project located
in south-central Colorado, USA, which is 75% owned by Lexam and 25%
ConocoPhillips and has an option to earn 50% interest in Golden Valley Mines
Otish Basin region uranium projects located in Quebec, Canada.
Ana E. Aguirre
Manager, Investor Relations
Toll Free: (866) 441-0690
Tel: (647) 258-0395
Fax: (647) 258-0408
E-mail: info@lexamexplorations.com
Web: www.lexamexplorations.com |
Corporate Head Office
Lexam Explorations Inc.
99 George Street, 3rd Floor
Toronto, Ontario M5A 2N4 |
