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June 25, 2007 VANCOUVER, BC — Lexaria Corp. (OTC BB: LXRA) (the "Company" or "Lexaria") is pleased to announce it has negotiated the acquisition of an additional 10% interest in 10 oil and gas wells previously drilled as our Phase I drilling program in Mississippi. As a result of this acquisition, Lexaria now holds a 30% gross interest in these 10 drilled wells, many of which are already connected to pipe and producing cash flow. Lexaria’s previous interest in this Phase I program was 20%. The acquisition was from a private non-related party. The acquisition will be paid for in cash payments over a roughly one-year period. Lexaria presently expects that all of these 10 wells will be connected and productive, while 2 additional wells that were drilled as part of the Phase I program, were not productive and previously abandoned. At this time, Lexaria now owns a 30% gross interest in the Phase I, 12-well program (already drilled); a 40% gross interest in the next 7 wells which are also already drilled; and a 50% gross interest in the next 43 wells, which have not yet been drilled. Lexaria is pleased to continue working to add shareholder value. About Lexaria Corp. Lexaria Corp. is an oil & gas company active in Mississippi, Oklahoma and in Alberta, Canada. The main focus currently is Mississippi, where it holds between 30% and 50% gross interests in various gas and oil projects. Lexaria routinely evaluates additional oil & gas projects and corporate opportunities. Contact: Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. 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, operating, financial or other problems; capital expenditures that are higher than anticipated; or exploration opportunities being fewer than currently anticipated. The Company has no official gas or oil reserves at this time and may not have sufficient funding to thoroughly explore, drill or develop its properties. 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. |