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The relationship between Lexaria Corp. and Griffin & Griffin Exploration, LLC began in 2005, through a meeting of the minds between Chris Bunka, Lexaria’s Chairman; and William Griffin, III, President of Griffin & Griffin, LLC. (G&G) A symbiotic relationship has since developed between the specific technical and local expertise offered by G&G, combined with the access to public capital markets offered through Lexaria. Since 2005, Lexaria was the first public company to participate in drilling Frio wells with G&G, and today, it holds a larger interest in these wells than any other public company. The Mississippi interests are administered through a structure shared with the other property participants, achieving management synergies and savings. In this manner, Lexaria and the other participants have contracted an exclusive interest in a 50-well drill program covering all the Frio, Tecumseh, and Wilcox formations underlying the G&G lands. G&G currently has approximately 200,000 acres under lease or option. Lexaria could choose to expand its involvement in additional acreage over and above those already under lease or option. Core operating areas are SouthWest Mississippi and the Florida Parishes of Eastern/Central Louisiana. G&G has actively participated in far more than 100 wells in the region, developing strong relationships with property owners for more than 20 years, which today offers a strong competitive advantage. Just as G&G offers synergies to Lexaria, so too G&G enjoys synergies from landowners, contractors, and others, having established itself as the leading independent E&P company in Mississippi. Lexaria’s relationship with G&G delivers full access to the delivery infrastructure including pipelines, compression and metering. We share proportionately in the compression, pipelines, oil storage facilities and two main pipeline tie-ins in place for natural gas sales. Lexaria relies on expert knowledge. Some of the people who contribute to our success as part of our operations team are listed below. William Griffin: CEO, G&G William K. Griffin, III Mr. Griffin has 30 years experience in the oil and gas Industry and is extremely familiar with oil and gas plays in Mississippi and Louisiana, particularly in the Lower Tuscaloosa, Frio, Wilcox, Sparta, Cotton Valley, and Smackover formations. Mr. Griffin was born and raised in Southwestern Mississippi and is a graduate of the University of Mississippi. He has bought and sold oil, gas, and mineral leases, overriding royalties, mineral rights and properties throughout Southwestern USA. He has worked to secure drilling contracts, acquired pipeline rights-of-way, generated prospects, and raised funds to drill and complete prospects. He has negotiated a variety of energy deals with Exxon, Shell, Texaco, Mobil, Amoco, Anadarko, Arkla, Energen, Unocal, Patterson Drilling, Koch Hydrocarbons, Tenneco, and many others. Mr. Griffin is a member of various professional and civic activities in the Jackson, Mississippi, community including such organizations as Mid Continent Oil and Gas association and the Mississippi Association of Petroleum Landmen, among others. John Andrew Griffin Mr. Griffin oversees day-to-day operations including land leases, geological and geophysical work programs. He also serves as president of Tunica Pipeline, LLC, and Eastfork Pipeline, LLC. Mr. Griffin is amply experienced in the acquisition of leases, and has leased large land positions in Louisiana and Mississippi. Mr. Griffin has had hands-on experience as a roughneck and on pipelines. He also has extensive knowledge in the acquisition and divestiture of oil and gas properties. Mr. Griffin is an active member in various professional and civic activities, and is a graduate of Louisiana State University. Raymond Lewand, Jr Mr. Lewand is an independent consulting geologist who brings over 30 years of experience in the oil and gas sector, with numerous successful finds as a geologist. Mr. Lewand has an M.S. Geology from Baylor University, Texas and has extensive knowledge of Frio formations. He was responsible for discoveries in North Louisiana, and for the discoveries in the South Alabama Smackover Play and the Norphlet at Goodwater Field, Mississippi. In addition, he was responsible for the discoveries of Chavers Creek, Ala. and field extensions in Holiday Creek, Oakvale, and West Raymond, Mississippi. He has been responsible for five significant Frio gas discoveries. Mr. Lewand developed unique geophysical signature keys that led to templates that were applied to the Frio and Lower Tuscaloosa trends. His interpretations led to the discoveries of S.E. Mauriceville and Little Cypress Fields of Orange County Texas (75BCF). He also participated in the interpretation of the complex structural evolution of Orange Dome Field, which led to another new Frio pool discovery. Mr. Lewand is a member of the American Association of Petroleum Geologists, the Mississippi Geological Society, and the East Texas Geological Society. S. Pittman Calhoun Mr. Calhoun is a graduate of the University of Southern Mississippi and has operated as Griffin & Griffin’s Chief Geophysicist. Mr. Calhoun has over 30 years of experience as a seismic interpreter, including 3-D interpretation, and has been responsible for over 35 field discoveries and/or significant field extension in the onshore and offshore Gulf of Mexico region. Mr. Calhoun was formerly a Geophysicist with Nuevo Energy Company/Paramount Petroleum, where he served as the Exploration/Development Geophysicist. At Nuevo Energy, Mr. Calhoun was responsible for all geophysical functions including interpretation of 3-D and 2-D seismic. He has also served as the Chief Geophysicist for Hughes Eastern Corporation; Inexco Oil Company; and Pelto Oil Company; and has worked as a geophysicist for the General Crude Oil Company. He is a member of the Society of Exploration Geophysicists, Jackson Geophysical Society, and the Mississippi Geological Society. Bob Boyett Mr. Boyett has over 40 years experience in the oil and gas industry, and after becoming an independent consultant in 1996, has worked with Patterson Drilling Co., Basin Drilling Co., and, since 2005, has been the Drilling Manager with Griffin & Griffin Exploration. Formerly, he worked for 19 years with Dresser Industries of Houston, Texas, where he held various positions including Worldwide Vice President of Marketing. He was then Vice President and General Manager of Transcontinental Drilling of Jackson, Mississippi. He was president of Mid-South Drilling from 1985 through 1993, then joined Robertson On-Shore Drilling Co.
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