Lexam
Encyclopedia
Lexam VG Gold is a North America gold exploration Company formed by the merger of Lexam Explorations, Inc. and VG Gold Corp. Principle prospects are in Canada, notably near the Dome Mine in northern Ontario
near Timmons
The Company, during gold exploration in the San Luis Valley
, discovered an oil and gas prospect, the Baca project located in a frontier basin in southern Colorado.
to which they have mineral rights. Lexam is proposing to drill two exploratory wells on the property to test the natural gas targets that have been identified. Lexam owns 75% of the oil and natural gas rights on the Baca project, with the remaining 25% being owned by ConocoPhillips
. Lexam is subsidiary of McEwen Capital, a private company that provides funding in the natural resource, medical and technology sectors.
Lexam's discovery of a new Cretaceous sub-basin, containing rocks that are prolific producers of oil and gas in the Rocky Mountain region, comes at a time when the area is rapidly becoming the focus of natural gas exploration in the . Lexam's highest priority exploration target, the 19900 acres (80.5 km²) Crestone Prospect, is a large, anticlinal structure that has been mapped with seismic and gravity data. In addition, potential exists for the discovery of a basin-centered accumulation of gas in the deep portions of the basin located adjacent to the Crestone Prospect.
Ontario
Ontario is a province of Canada, located in east-central Canada. It is Canada's most populous province and second largest in total area. It is home to the nation's most populous city, Toronto, and the nation's capital, Ottawa....
near Timmons
Timmons
Timmons is a surname, and may refer to:Persons*Andy Timmons , American rock guitarist*Bob Timmons , American college basketball coach*Bobby Timmons , American jazz pianist and composer...
The Company, during gold exploration in the San Luis Valley
San Luis Valley
The San Luis Valley is an extensive alpine valley in the U.S. states of Colorado and New Mexico covering approximately and sitting at an average elevation of above sea level. The valley sits atop the Rio Grande Rift and is drained to the south by the Rio Grande River, which rises in the San Juan...
, discovered an oil and gas prospect, the Baca project located in a frontier basin in southern Colorado.
Baca Project
Lexam's Baca Project is an oil and gas prospect located on the Baca National Wildlife RefugeBaca National Wildlife Refuge
The Baca National Wildlife Refuge is a United States National Wildlife Refuge located in southern Colorado. It is located on the lands of the Luis Maria Baca Grant No. 4 near Crestone, Colorado in the San Luis Valley in southern Saguache and northern Alamosa counties, about northeast of the town...
to which they have mineral rights. Lexam is proposing to drill two exploratory wells on the property to test the natural gas targets that have been identified. Lexam owns 75% of the oil and natural gas rights on the Baca project, with the remaining 25% being owned by ConocoPhillips
ConocoPhillips
ConocoPhillips Company is an American multinational energy corporation with its headquarters located in the Energy Corridor district of Houston, Texas in the United States...
. Lexam is subsidiary of McEwen Capital, a private company that provides funding in the natural resource, medical and technology sectors.
Lexam's discovery of a new Cretaceous sub-basin, containing rocks that are prolific producers of oil and gas in the Rocky Mountain region, comes at a time when the area is rapidly becoming the focus of natural gas exploration in the . Lexam's highest priority exploration target, the 19900 acres (80.5 km²) Crestone Prospect, is a large, anticlinal structure that has been mapped with seismic and gravity data. In addition, potential exists for the discovery of a basin-centered accumulation of gas in the deep portions of the basin located adjacent to the Crestone Prospect.