The Belmont Lake Oil Field is a significant oil discovery for a company our size, and one we intend to develop to its maximum value. It is within the Frio formation.
We currently own 32% - 40% interests in the four existing oil wells in the Belmont Lake oil discovery, which was identified using the above-noted Bright Spot technology. We do not know for certain how many wells we might be able to drill in this field, but as of September 2010 we believe that there may be a total potential for 7-10 wells at Belmont Lake.

This is our lowest-risk development opportunity. The Belmont Lake oil wells offer superb investment payouts, despite the location in the seasonal floodplain of the Mississippi River which has presented us with challenges. Seasonal flooding of the oil field forced Lexaria and its partners to devise ways to safely and reliably produce oil 12-months per year, even if the surface location was flooded with river water.
The Company has worked hard to install a remote tank farm and separation facility, pipelines, and various mechanical connections. All of this has taken time, resources, and tenacity.

An important goal for our Company is to unlock the secret of being able to identify, in advance, between Frio Oil targets and Frio Gas targets. If we can do so, we believe we can build significant shareholder value through our 60% gross interest in exploration lands surrounding the Belmont Lake discovery.

An important goal for our Company is to unlock the secret of being able to identify, in advance, between Frio Oil targets and Frio Gas targets. If we can do so, we believe we can build significant shareholder value through our 60% gross interest in exploration lands surrounding the Belmont Lake discovery.