LGX Oil + Gas Inc. reported unaudited consolidated earnings and production results for the first quarter ended March 31, 2016. For the quarter, the company reported Petroleum and natural gas sales, net of royalties of CAD 931,223 against CAD 2,774,557 a year ago. Funds used in operations were CAD 43,493 against funds generated by operations of CAD 117,808 a year ago. Net loss was CAD 2,357,921 or CAD 0.03 per basic and diluted share against CAD 2,445,766 or CAD 0.03 per basic and diluted share a year ago. Capital expenditures - exploration and development was CAD 1,320 saga CAD 651,357 a year ago. Net debt and working capital deficit was CAD 31,431,283 against CAD 30,864,791 a year ago.

For the quarter, the company reported production of crude oil and natural gas liquids of 263 Bbls per day against 609 Bbls per day a year ago. Natural gas was 985 Mcf per day against 1,278 Mcf per day a year ago. Barrels of oil equivalent were 427 Boe per day against 822 Boe per day a year ago.