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LGX Energy Corp

Illinois Basin Oil & Gas Development

LGX Energy Corp. is a U.S. oil and gas exploration and development company focused on the Illinois Basin, with primary operations in Clay County, Indiana and strategic mineral ownership in Michigan. The company's approach centers on applying modern 3D seismic imaging to a historically productive but technologically underdeveloped basin — an approach designed to improve targeting accuracy and reduce drilling risk relative to the 2D methods historically used in the region. Through its wholly owned operating subsidiary, Adler Energy, LGX currently operates 9 producing oil wells and 2 production facilities, controls roughly 6,000 acres of leasehold, and has identified more than 80 undrilled prospects from over 600 miles of proprietary seismic data. Proceeds from this raise are earmarked primarily for leasehold expansion, additional seismic acquisition, and drilling and development of a multi-year, multi-well program. The company's stated long-term objective is a future public offering or strategic sale, though there is no guarantee of if or when a liquidity event occurs.