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Regulated Marijuana Production
- Joint Venture signed March 5, 2014 with Enertopia Corp (ENRT-US and TOP-Canada). Enertopia is one of Canada’s leading medical marijuana companies with two recent acquisitions recently announced.
- Enertopia has the capability of putting more than 60,000 sq ft of production space into use in the cultivation of medical marijuana, through its partly owned subsidiaries.
- Developed a business plan wherein company will try to acquire more than one license to produce marijuana in Canada under the MMPR legislation.
- Evaluating potential legal grow locations in those jurisdictions in the USA where they are permitted
Gupta: ‘I am doubling down’ on medical marijuana
Dr. Sanjay Gupta, CNN Cheif Medical Correspondent. We have no affiliation with this well known medical expert, but his latest “Doubling Down” on the medical marijuana sector is worthy of your attention. Reasons such as these convince us we are doing the right thing in entering this market.
Medical marijuana and ‘the entourage effect’
We are no longer your Daddy’s Oil Company
Lexaria Corp. has been in business since 2005 and for nine years explored for and developed oil and gas assets in low-risk areas of North America. Lexaria still owns oil production in Mississippi, producing oil from wells at the Belmont Lake oil field. (You can learn about that in our “Oil Operations” section) During the last three full years combined, revenue was a total of about $3,550,000.
But North American society has changed dramatically, and so have we. Our proved management team has always employed sensible risk management controls in an effort to preserve the capital entrusted by shareholders. After all, its YOUR money!
And today, most Americans and most Canadians support some form of medical use of marijuana, in poll after poll.
Likewise, the legal marijuana industry is and will be heavily regulated, and we support that. We’ve already proven our ability to be transparent with our stakeholders and our ability to work within all applicable government regulations. We promise to deliver that transparency and dedication to the legal marijuana industry where these traits are a vital component towards ultimate success.
The medical marijuana business just might be one of the most recession-proof industry sectors there are. There is no boom and bust cycle that is apparent. The average demographic age in North America continues to increase, with over 44 million people in the USA today at the age of 65 or over. Age-related illnesses will continue to grow, and some fraction of these people looking for an alternative to opiate-based painkillers have a real need for pain-relief choices.
Lexaria also has a history of working with joint venture partners, as we’ve demonstrated over the years in Oklahoma,Mississippi, Alberta and Saskatchewan. We’re changing the sector we’re focused on, but we’re not changing our commitment to best practices; to ethical behavior; and to our investors and shareholders.
Oil and Gas Operations
Belmont Lake Oilfield
The Belmont Lake Oil Field is a significant oil discovery for a company our size, and one the Company intends to develop to it to its maximum value. It is within the Frio formation.
Lexaria currently owns 13% – 50% interests in the five existing oil wells in the Belmont Lake oil discovery, which was identified using 3-D Bright Spot technology. At the time of discovery the Company owned only a 20% interest. The Company’s most recent reserve report indicates that eight (8) productive oil wells could be located at Belmont Lake.
This is low-risk development opportunity at Belmont Lake offering superb returns, 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 installed a remote tank farm and separation facility, pipelines, and various mechanical connections. Most important of all, lifting devices were utilized that use compressed natural gas to lift the oil to the surface, allowing our wells to produce at all times.
An important goal for the Company is to unlock the secret of being able to distinguish, in advance of drilling, between Frio Oil targets and Frio Gas targets. We have begun some internal research towards this goal. The Company welcomes any research or information from outside experts towards this goal and invites your contact.
Lexaria has built significant value through our analysis of 3-D seismic covering 130,000 nearby acres. Though we do not currently have an interest in these lands, we have previously generated many drilling targets.
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