|
Revised 51-101 Report Filed October 9, 2009 VANCOUVER, BC — Lexaria Corp. (LXRP-OTCBB) (the "Company" or "Lexaria") announces that it has filed an updated Form 51-101F1 technical report. As a result of a review by the British Columbia Securities Commission, we are issuing the following press release to clarify our disclosure. On June 24, 2009, the Company, as required under National Instrument 51-101 Standards of Disclosure for Oil & Gas Activities ("NI 51-101"), filed a Statement of Reserves Data and Other Oil and Gas Information on Form 51-101F1, Form 51-101F2 and Form 51-101F3 on SEDAR. On August 12, 2009, the Company filed a non-offering preliminary prospectus with the securities commission in the province of British Columbia (the "BCSC") and as part of the review process associated with the prospectus, the BCSC identified deficiencies with the Form 51-101F1. The Form 51-101F1 did not contain certain disclosures and tables as required by NI 51-101 and Form 51-101F1. As a result, the Company has amended its Statement of Reserves Data and Other Oil and Gas Information on Form 51-101F1 in respect of its fiscal year ended October 31, 2008 and has filed amended Forms 51-101F1, 51-101F2 and 51-101F3. The amended filings contain additional comprehensive information regarding the Company's oil and gas properties and operations in Mississippi, USA, in compliance with National Instrument 51-101. The Forms may be viewed at www.sedar.com. The information within this press release is for dissemination to Canadian residents only and must not be relied upon within the USA where oil and gas reporting standards vary from Canadian standards. About Lexaria Corp. Lexaria Corp. is an oil & gas company active primarily in Mississippi, where it holds between 32% and 60% gross working interests in various gas and oil projects. Lexaria routinely evaluates additional oil & gas projects and corporate opportunities. Contact: Forward-looking Statements 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, weather, operating, financial or other problems; capital expenditures that are higher than anticipated; or exploration opportunities being fewer than currently anticipated. There can be no assurance that expected oil and gas production will actually materialize; and thus no assurance that expected revenue will actually occur. There is no assurance the Company will have sufficient funds to drill additional wells, or to complete acquisitions or other business transactions. Such forward-looking statements also include estimated cash flows, revenue and current and/or future rates of production of oil and natural gas, which can and will fluctuate for a variety of reasons; oil and gas reserve quantities produced by third parties; and intentions to participate in future exploration drilling. Adverse weather conditions can delay operations, impact production, and cause reductions in revenue. The Company may not have sufficient expertise to thoroughly exploit its oil and gas properties. The Company may not have sufficient funding to thoroughly explore, drill or develop its properties. Access to capital, or lack thereof, is a major risk. 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. |