Lexam
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| Lexam Explorations Inc. | |
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| Type | Public (TSXV-NEX:LEX.H) |
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| Founded | November 12, 1993 (Spinout)(Goldcorp) |
| Headquarters | Toronto, ON, Canada |
| Key people | Rob McEwen, CEO & Chairman |
| Industry | Oil and Gas |
| Website | www.Lexamexplorations.com |
Lexam Explorations is a North America oil and gas exploration Company. The Company's most significant property is the Baca project located in a frontier basin in southern Colorado. 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.
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[edit] Baca Project
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 19,900 acre 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.
[edit] Management
Robert R. McEwen is the Chief Executive Officer, Gilles Filion. the former head of exploration for Goldcorp Inc. is Vice President, Exploration. Ian J. Ball , formerly by Goldcorp Inc. is Vice President, Corporate Development, and Stefan M. Spears, also formerly with Goldcorp Inc. is Vice President, Strategic Development, and Perry Y. Ing, the Chief Financial Officer
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