LGX Oil + Gas Inc. announced unaudited consolidated earnings and operating results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported petroleum and natural gas sales, net of royalties was CAD 4.33 million against CAD 4.819 million a year ago. Funds generated by operations was CAD 1.148 million or CAD 0.01 diluted per share against CAD 0.582 million or CAD 0.01 diluted per share a year ago. Net loss was CAD 1.074 million or CAD 0.01 diluted per share against CAD 8.27 million or CAD 0.09 diluted per share a year ago. Capital expenditures - exploration and development was CAD 5.87 million against CAD 1.697 million a year ago.

For the nine months, the company reported petroleum and natural gas sales, net of royalties was CAD 16.24 million against CAD 12.87 million a year ago. Funds generated by operations was CAD 6.09 million or CAD 0.07 diluted per share against CAD 3.31 million or CAD 0.04 diluted per share a year ago. Net loss was CAD 1.62 million or CAD 0.02 diluted per share against CAD 12.551 million or CAD 0.14 diluted per share a year ago. Capital expenditures - exploration and development was CAD 8.3 million against CAD 2.538 million a year ago. Net debt and working capital deficit was CAD 21.84 million against CAD 9.19 million a year ago.

For the quarter, the company reported crude oil and natural gas liquids production were 537 bbls per day against 567 bbls per day a year ago. Natural gas production was 1,360 mcf per day against 1,677 mcf per day a year ago. Barrels of oil equivalent production were 764 boe per day against 847 boe per day a year ago. Crude oil and natural gas liquids average realized price was CAD 92.22 per bbl against CAD 102.23 per bbl a year ago. Natural gas average realized price was CAD 4.03 per mcf against CAD 2.37 per mcf a year ago. Barrels of oil equivalent average realized price were CAD 71.99 per boe against CAD 73.13 per boe a year ago. Petroleum and natural gas sales netback was CAD 71.99 per boe against CAD 73.13 per boe a year ago. Royalties' netback was CAD 10.36 per boe against CAD 11.28 per boe a year ago. Operating netback was CAD 27.98 per boe against CAD 15.76 per boe a year ago.

For the nine months, the company reported crude oil and natural gas liquids production were 638 bbls per day against 586 bbls per day a year ago. Natural gas production was 1,318 mcf per day against 1,736 mcf per day a year ago. Barrels of oil equivalent production were 858 boe per day against 875 boe per day a year ago. Crude oil and natural gas liquids average realized price was CAD 94.57 per bbl against CAD 87.17 per bbl a year ago. Natural gas average realized price was CAD 4.77 per mcf against CAD 2.93 per mcf a year ago. Barrels of oil equivalent average realized price were CAD 78.81 per boe against CAD 64.19 per boe a year ago. Petroleum and natural gas sales netback was CAD 78.81 per boe against CAD 64.19 per boe a year ago. Royalties' netback was CAD 9.47 per boe against CAD 10.32 per boe a year ago. Operating netback was CAD 37.34 per boe against CAD 23.07 per boe a year ago.