The article stated the following:

Benchmark crude for April delivery gained $1.58 to $47.10 a barrel on the New York Mercantile Exchange. Prices reached as high as $48.83 earlier in the day. A barrel of oil last cost more than $50 in early January.

Oil has been ready for a recovery, and historically it's hard to find a 30-day window kinder to the market than about March 15 through April 15, said Tom Kloza, publisher and chief oil analyst at Oil Price Information Service.

Gasoline prices are sure to follow that rough trajectory upward as the U.S. heads into driving season.

Kloza said prices seem to be heading toward the $50 threshold.

To read the article in its entirety simply click on the following link:

http://www.google.com/hostednews/ap/...

AGORACOM is pleased to have brought you this Industry Report pertaining to the oil and gas industry and how it may affect Lexaria. Feel free to comment on this report or any other facet of the company's business. We encourage constructive dialogue pertaining to the business ventures of Lexaria

AGORACOM Investor Relations

The article stated:

In 1999, the price of oil hovered around $16 a barrel. In July 2008, it reached a peak of $147 a barrel. By the end of the year, as most of the world fell into recession, prices plunged to below $49 a barrel, a roller coaster ride that left both producers and consumers confused and wrung out. Prices were still far higher than they had been at the beginning of the decade, but oil-producing countries that had reshaped their economies around the huge influx of revenues faced a suddenly altered landscape.

The New York Times article also has links to helpful industry related sites and can help people with their due diligence regarding investing in the oil sector. To read the article in its entirety, you can access it through the following link:

http://topics.nytimes.com/topics/ref...

AGORACOM encourages constructive dialogue regarding Lexaria. Feel free to comment on this discussion forum either about this piece or any other facet of the company's business.

AGORACOM Investor Relations

Since Lexaria has interests in oil and gas in Oklahoma, AGORACOM is providing you a link to "Tulsa World". This link outlines the recent drilling activity for oil and gas within the state of Oklahoma.

http://www.tulsaworld.com/business/a...

AGORACOM encourages constructive dialogue regarding Lexaria. Feel free to comment on this or any other aspect of the business pertaining to the company.

AGORACOM Investor Relations

AGORACOM encourages constructive dialogue regarding Lexaria. Feel free to comment on this story or any other facet of Lexaria's business on this dicussion forum.

AGORACOM Investor Relations

Feel free to comment on this interview or any other facet of the company's business on this discussion forum.

AGORACOM encourages constructive dialogue pertaining to Lexaria. We also suggest you continue to monitor this site for further news and updates.

AGORACOM Investor Relations

Production rates have not yet fully stabilized and have at times been both higher and lower than this average rate. During 2008 and 2009 Lexaria expects to complete development of the Belmont Lake oil field with between 3-12 additional wells. The Company expects to be able to drill all or most of these wells from its existing and anticipated cash flows and its existing cash position depending upon the drilling schedule.

Lexaria’s operator is currently conducting workover operations on the PP F-52 well, located some 9 miles north of Belmont Lake oil field and hopes to have this smaller well on production soon.
Lexaria is attempting to discover as-yet unidentified oil fields in the region that may have characteristics similar to our Belmont Lake discovery, and believes that pursuing this strategy could produce significant shareholder value.

Lexaria is also pleased to announce it has successfully completed re-financed existing loans to the company under a new loan agreement. The Company expects that its existing cash flow from the Belmont Lake oil wells will be more than adequate to service its existing debt of approximately one million dollars. Under the terms of the new agreement, the Company has the ability to raise additional funds, which at this time is not needed. Lexaria currently has sufficient cash and cash flow to meet its needs.

Lexaria would also like to take this opportunity to acknowledge the challenging global investment market conditions, and thank all our stakeholders for their support as we build both our production and our company. The Company also points out that its President has loaned CDN $700,000 to the Company under the terms of the new debt agreement. “I want people to know that I believe strongly in this company’s business plan of developing its domestic oil and gas production, which I think will deliver great value to our shareholders,” said Chris Bunka, President.

Lexaria currently has a 30% working interest in the Belmont Lake oil field and in the PP F-52 well mentioned above, as well as additional producing gas wells. Lexaria also holds a 50% working interest in future exploration wells to be drilled on lands surrounding Belmont Lake in all directions.

Investors are invited to visit the Lexaria Corp.IR Hub at www.agoracom.com/IR/Lexaria where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to LXRA@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.

About Lexaria Corp.
Lexaria Corp. is an oil & gas company active primarily in Mississippi, where it holds between 30% and 50% gross interests in various gas and oil projects. Lexaria routinely evaluates additional oil & gas projects and corporate opportunities.

Contact:
Leonard MacMillan, 1-800-287-2885
www.lexariaenergy.com

Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration because of mechanical, weather, operating, financial or other problems; capital expenditures that are higher than anticipated; or exploration opportunities being fewer than currently anticipated. There can be no assurance that expected oil and gas production will actually materialize; and thus no assurance that expected revenue will actually occur. There is no assurance the Company will have sufficient funds to drill additional wells, or to complete acquisitions or other business transactions. Such forward looking statements also include estimated cash flows, revenue and current and/or future rates of production of oil and natural gas, which can and will fluctuate for a variety of reasons; oil and gas reserve quantities produced by third parties; and intentions to participate in future exploration drilling. Adverse weather conditions can delay operations, impact production, and cause reductions in revenue. The Company may not have sufficient expertise to thoroughly exploit its oil and gas properties. The Company may not have sufficient funding to thoroughly explore, drill or develop its properties. Access to capital, or lack thereof, is a major risk. Current oil and gas production rates may not be sustainable and targeted production rates may not occur. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.

In an effort to bring the latest news and events in the Canadian natural gas market the following link gives the monthly and yearly production/consumption data up to August 2008.

http://www2.nrcan.gc.ca/es/erb/CMFil...

Work completed recently includes rebuilding of access roads and drill pads and workovers of the two existing wells at Belmont Lake. This included assessments of the wells; removal of the paraffin blockages; treatment of the oil field with chemicals designed to reduce future paraffin buildup; and installation of down-hole pumps driven by natural gas pressure that do not require electricity or mechanical power at the well locations.

The PP F-12 well originally went into production on October 2, 2007. It produced intermittently until Feb 14, 2008, when a down-hole screen was blocked by paraffin buildup. During that time it produced roughly 10,000 barrels of oil and production was limited both by paraffin buildup and by lack of artificial lift. We were not able to perform the simple procedures to deal with paraffin buildup at the time, due to the flooding of the Mississippi River which had prevented surface access. As a result, production was interrupted from Feb 14.

Stepout well PP F-12-3 is also expected back into production next week, with pump. This well produced intermittently from Nov 11, 2007 until May 25, 2008. During that time the well produced roughly 11,000 barrels of oil with no pump. It also suffered from paraffin buildup which had limited production rates. Lexaria expects the production rates of both of these Belmont Lake wells to stabilize in the weeks to come.

During 2008 and 2009 Lexaria expects to complete development of the Belmont Lake oil field with between 3-12 additional wells. Each new successful well that is drilled will be immediately commissioned with pumps; and the necessary chemical treatment to help ensure maximized stable production. The Company expects to be able to drill all or most of these wells from its existing cash flow.
With the successful installation of down-hole injection lines and the non-mechanical pumps, we believe we have removed to the fullest extent possible, the probability of extended future production shut-downs due to paraffin build up or lack of access to the wellhead due to difficult surface conditions.

Subject to acceptable weather conditions, Lexaria expects to conduct similar workover operations on the PP F-52 well, located some 9 miles north of Belmont Lake oil field. Although the PP F-52 well was completed as a gas discovery, it also began producing oil from Oct 23, 2007, until Feb 15, 2008 during which time it produced approximately 5,500 barrels. Although the production rate from the PP F-52 well is expected to be lower than from the Belmont Lake oil field wells, the Company believes it to be significant because it demonstrates our success in finding repeat occurrences of oil production within our exploration areas in Southern Mississippi.

Lexaria is attempting to discover as-yet unidentified oil fields in the region that may have characteristics similar to our Belmont Lake discovery, and believes that pursuing this strategy could produce significant shareholder value.
There was no known damage to any of Lexaria’s wells or production facility from the recent Hurricane Gustav. Typical damage in the area consisted of fallen trees. The latest reports on Hurricane Ike project it to not come closer than 200-300 miles of our Belmont Lake oil field.

Lexaria currently has a 30% working interest in the Belmont Lake oil field and in the PP F-52 well mentioned above, as well as additional producing gas wells. Lexaria also holds a 50% working interest in future exploration wells to be drilled on lands surrounding Belmont Lake in all directions.
Investors are invited to visit the Lexaria Corp.IR Hub at www.agoracom.com/IR/Lexaria where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to LXRA@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.

About Lexaria Corp.

Lexaria Corp. is an oil & gas company active primarily in Mississippi, where it holds between 30% and 50% gross interests in various gas and oil projects. Lexaria routinely evaluates additional oil & gas projects and corporate opportunities.

Contact:
Leonard MacMillan, 1-800-287-2885

www.lexariaenergy.com

Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration because of mechanical, weather, operating, financial or other problems; capital expenditures that are higher than anticipated; or exploration opportunities being fewer than currently anticipated. There can be no assurance that expected oil and gas production will actually materialize; and thus no assurance that expected revenue will actually occur. There is no assurance the Company will have sufficient funds to drill additional wells, or to complete acquisitions or other business transactions. Such forward looking statements also include estimated cash flows, revenue and current and/or future rates of production of oil and natural gas, which can and will fluctuate for a variety of reasons; oil and gas reserve quantities produced by third parties; and intentions to participate in future exploration drilling. Adverse weather conditions can delay operations, impact production, and cause reductions in revenue. The Company may not have sufficient expertise to thoroughly exploit its oil and gas properties. The Company may not have sufficient funding to thoroughly explore, drill or develop its properties. Access to capital, or lack thereof, is a major risk. Current oil and gas production rates may not be sustainable and targeted production rates may not occur. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.

Oil and the seven myths

9 Jun, 2008, Ruchir Sharma,

It is one of the most powerful momentum markets in history. Across the globe, almost all stocks that have outperformed the benchmarks over the past year belong to the just one group.

Six out of the world’s 10 largest companies by market value are drawn from this sector. Pension plans and hedge funds have been pouring record sums of money into the space. Conversations around office water coolers and living rooms revolve around the same financial topic.

It is fashionable to throw about forecasts of much higher prices, which are already up 100% over the past year and are pasted on every other magazine cover.

So is this early 2000 or mid-2008? The parallels are indeed striking between the late stages of the tech mania and the current oil boom. Both mega trends were rooted in a powerful economic shift; while the tech boom was associated with several technological breakthroughs and new ‘killer applications’ for mass use, the oil-led commodity boom is attributed to the rapid industrialisation of emerging markets.

At some point, however, investor imagination begins to overstate reality. With oil prices doubling since mid-2007, without any major corresponding change in the supply-demand dynamic, there are now widespread signs that the myth has again transcended the truth.

While it’s hard to predict exactly when the deeply entrenched uptrend will reverse, it’s important to be fully aware that psychology rather than fundamentals is currently spurring oil prices. Here are some of the most popular misconceptions that come through in any discussion about oil.

Myth 1: The oil price surge is due to a drop in output growth. While there is some reason to be genuinely concerned about long-term supply constraints in oil, growth in production has not hit a wall as yet. Global oil supplies have been increasing 2% annually over the past five years and supply of crude is more than adequate to meet demand this year as well.

Still, the market is worried that the dependence on OPEC supply has recently been growing as estimates for North Sea and Russian crude production have been steadily declining. In addition, global spare capacity has fallen to 2% of production from a historical average of 3% to 5%. But this hardly justifies the doubling in oil prices over the past year. The last time prices rose at such a meteoric pace was in the 1970s when there were actual supply disruptions.

Myth 2: Emerging market demand is main determinant of oil prices. Unlike most other commodities, where China is indeed the price-setter, OECD demand is still the most relevant factor when it comes to oil. The US consumes 25% of global oil compared to 9% for China.

US oil demand has contracted by 5% so far this year, as demand destruction is in the works. While it is hard to get a fix on latest Chinese demand, growth in oil demand is unlikely to be as high as the 5% annual run-rate of the past five years, given the marginal slowdown in China’s economy.

Myth 3: Emerging market demand is price inelastic. For every commodity, demand destruction sets in at some point. In the 1960s and ’70s, the re-industrialisation of Japan and Europe propelled commodity prices higher, but at a certain juncture, the demand for commodities recoiled.

Copper consumption peaked at 0.45% of global economy in the mid-1960s while the demand for nickel started to fall in the 1970s after reaching 0.2% of global GDP. For the previous oil price boom, the breaking point was in late 1979 when the total spend on that commodity exceeded 7% of global GDP.

Over just the past ten years, the weight of oil in the global economy has moved from a low of 1.5% of GDP to over 7% of GDP again. The experience of the 1980s could be instructive in the current context as well. Even as Japan and Europe continued to grow strongly in the 1980s, oil consumption remained essentially flat through that decade as both the regions strived to achieve better fuel efficiency and switched to alternative sources of energy, such as nuclear power.

With governments in many emerging markets finally raising oil prices at the retail level this year, oil demand is bound to decrease. As a case in point, the Indonesian government is budgeting a 10% decline in volume growth for 2008 on the back of a 30% adjustment in oil prices.

Myth 4: Better standards of living in developing countries will only increase oil consumption. As the demand patterns of the 1980s show, when oil gets too expensive consumers look for different sources of energy and succeed in finding them. A similar move has been underway with nearly 90% of the growth since 2004 in new ‘oil’ capacity coming from bio-fuels, synthetic oil and natural gas liquids.

Furthermore, higher per capita incomes are often associated with greater energy efficiency and the increased urbanisation projected for emerging markets could even translate into lower per capita oil consumption with the greater use of mass transportation.

Myth 5: The tidal fund flow into oil and other commodity products will keep raising their prices in financial markets. Asset allocation into commodity funds has risen dramatically over the past year, with the total influx in the first quarter of 2008 exceeding the total inflow of 2007.

Many commentators argue that this trend has a long way to go as total allocation to commodity-related assets is still below 5% of total financial assets. Late last year, during the heady months of the emerging market boom, similar arguments were bandied about with regard to a potential re-rating of emerging markets stocks.

Yet, the reality is that while momentum can drive markets for a while, flows can quickly reverse once it becomes apparent that the underlying fundamentals are deteriorating; indeed this is the case with the Indian and Chinese equity markets this year. Even if pension plans keep increasing their strategic allocation to commodities, the process is likely to be gradual and spread over time.

Myth 6: Retail gasoline and diesel prices in emerging markets such as India are too low by global standards. The retail prices of petrol and diesel vary greatly across the world, reflecting the very different tax structures implemented by each country.

Venezuela reportedly sells gasoline at a mere 3 cents per litre while Turkey charges $2.80 for a litre. India’s latest price for petrol is in line with the global average, although it is lower by 30% for diesel. Still, at $0.85 per litre, India is selling diesel at a more expensive price than China.

The key difference between China and India is that the latter cannot afford to keep subsiding oil prices or further cutting taxes on oil products due to the large fiscal deficit. China doesn’t face the same compulsion to raise prices as it is running a fiscal surplus amounting to nearly 1% of GDP.

If the incumbent government had been more sensible in spending the revenue windfall from the runaway growth of the past four years, then it would be in a much better shape to absorb the global oil price shock.

Myth 7: A 1970s-style decade lies ahead for the global economy. Until late 2007, the rise in oil prices did not pose a problem for the global economy. In contrast to the 1970s when the oil price increase largely represented a supply shock, in this decade it is mainly a reflection of booming economic demand in the developing world and till last year any major inflationary impact was offset by high productivity growth in the global economy.

Over the past six months, the price of oil has risen at its fastest pace in recent history even as global economic demand has slowed due to fears of supply shortages, which is why it is now leading to fears of a 1970s redux.

But the situation today is more analogous to late 1979, the oil price shock has already happened with prices again rising by 900% over the past decade. The global economy is at a point similar to 1979 when demand and the price of oil started to decline.

Over the past 30 years, every major oil price setback has been demand-, not supply-led. Now with evidence mounting to suggest that demand is eroding, from the collapse in SUV sales in the US to a change in the subsidy regime in many developing countries, it’s only a matter of time before the psychology of ever-rising oil prices breaks on the marketplace.

(The author is head of emerging markets at Morgan Stanley Investment Management)

Please find below the Short-Term Energy Outlook which was published by The Energy Information Administration (EIA),

Published : March 11, 2008

Regards,

AGORACOM Investor Relations

About EIA

Highlights | Global Petroleum | U.S. Petroleum | Natural Gas | Electricity | Coal

Highlights

· The slowing economy combined with high petroleum prices is expected to constrain growth in U.S. consumption of liquid fuels and other petroleum products to just 40,000 barrels per day (bbl/d) in 2008. After accounting for increased ethanol use, U.S. petroleum consumption falls by 90,000 bbl/d. U.S. real gross domestic product is expected to decline slightly in the first half of the year and then start growing again, with growth for 2008 as a whole at 1.3 percent, the slowest annual rate since 2001.

· Tight fundamentals, reflected by low available crude oil surplus production capacity, combined with supply concerns in several oil exporting countries, have continued to put upward pressure on world crude oil prices. The outlook over the next 2 years points to some easing of the oil market balance due to increased production outside of the Organization of the Petroleum Exporting Countries (OPEC) and planned additions to OPEC capacity. However, delays to capacity additions in both OPEC and non-OPEC nations could alter the outlook, as could OPEC production decisions.

· WTI averaged $95 per barrel in February and is expected to average $102 in March (the spot price of WTI closed at nearly $108 per barrel on March 10, 2008 but is expected to decrease over the second half of the month). The annual average WTI price, which was $72 per barrel in 2007, is projected to average $94 per barrel in 2008, but ease somewhat to about $86 per barrel in 2009.

· The projected higher costs for crude oil in 2008 are likely to be passed on to all petroleum products. Retail prices for motor gasoline are expected to average $3.21 per gallon or 40 cents above the 2007 price. The monthly average gasoline price is projected to peak near $3.50 per gallon this spring. It is important to note, however, that even if the national average monthly gasoline price peaks near that level, there is a significant possibility that prices during some shorter time period, or in some region or sub-region, will cross the $4 per gallon threshold.

· Diesel prices are projected to show larger gains in 2008, averaging $3.45 per gallon, or 57 cents above the 2007 average price. The monthly average gasoline price is projected to peak near $3.50 per gallon this spring, while diesel prices are expected average close to $3.70 per gallon for March and April.

· The Henry Hub natural gas spot price averaged $7.17 per thousand cubic feet (Mcf) in 2007 and is expected to average $8.18 per Mcf in 2008 and $7.95 per Mcf in 2009.

Global Petroleum

Tight fundamentals, evidenced by low available surplus capacity and Organization for Economic Cooperation and Development (OECD) inventories that are below 5-year average levels, continue to put upward pressure on oil prices. In addition, recent events such as Turkey’s incursion into northern Iraq against Kurdish rebels, militant attacks against Nigeria’s oil infrastructure, and Venezuela’s threat to disrupt exports to the United States over its dispute with ExxonMobil have contributed to upward price pressure. Despite high prices, OPEC left production targets unchanged at its March 5 meeting.

Looking beyond 2008, market conditions will depend on trends in consumption and production capacity. If, as EIA projects, planned increases in non-OPEC production capacity outpace oil consumption growth and OPEC countries complete planned expansion projects on time, global surplus capacity could reach 4 million bbl/d or higher by the end of 2009, so prices should ease (OPEC Surplus Oil Production Capacity). EIA recognizes, however, the possibility that prices would be higher if the economic slowdown is short-lived and consumption remains robust, or if oil production capacity expansion levels turn out to be lower than expected.

Consumption. World oil consumption is expected to grow by 1.3 million bbl/d in both 2008 and 2009, slightly lower than projected in last month’s report, in response to higher projected oil prices and increased risks of a global economic slowdown. Non-OECD countries are expected to account for 1.1 million bbl/d of world consumption growth in 2008, with gains concentrated in China, the Middle East oil-producing countries, India, and other Asian countries. OECD countries are expected to register a gain of over 0.2 million bbl/d in consumption in 2008, compared with a decline of 0.2 million bbl/d in 2007, reflecting both weather factors and increased demand for oil in Japan for power generation caused by nuclear facility outages. Japan’s oil input at electric utilities in January 2008 was up by 225,000 bbl/d compared with year-earlier levels (World Oil Consumption).

Non-OPEC Supply. About 0.7 million bbl/d of non-OPEC supply growth is projected in 2008, revised down by 0.2 million bbl/d from the last Outlook. This change represents a revision to expected project schedules as well as a re-evaluation of decline rates at existing fields. Brazil is expected to account for about half of the expected gain in non-OPEC supply in 2008. Azerbaijan, Sudan, and Russia are also expected to record net additions to capacity, while the United Kingdom, Mexico, and Norway are among countries expected to experience declines. The pace and timing of non-OPEC supply growth will continue to be subject to possible delays in key projects. EIA’s Outlook incorporates an expectation of some further delays. As a result, uncertainty about non-OPEC supply growth introduces both upside and downside risk to our price outlook.

OPEC Supply. EIA projects that OPEC crude oil production will average about 32.2 million bbl/d during the first quarter of 2008, or about 0.6 million bbl/d above fourth quarter 2007 levels. The increase mainly reflects higher production from Saudi Arabia, Angola, and the United Arab Emirates. Based on EIA projections of consumption and non-OPEC supply, OPEC crude production is expected to average slightly above first quarter levels for the remainder of the year. If consumption rises more slowly than expected and OECD inventories climb relative to the 5-year average, OPEC members would be likely to consider holding their output below our projected level. Based on country plans, EIA expects OPEC crude production capacity to rise in 2008 by 1.2 million bbl/d and by 0.8 million bbl/d in 2009. OPEC’s non-crude liquids production is also expected to increase by about 0.3 million bbl/d in 2008 and by 0.8 million bbl/d in 2009.

Inventories. OECD commercial inventories declined by 136 million barrels in 2007, an average of 0.4 million bbl/d, in response to higher consumption and OPEC production restraint. OECD commercial inventories stood at 2.54 billion barrels at the end of 2007, 20 million barrels below the previous 5-year average, compared with 127 million barrels above the 5-year average at the end of 2006 (Days of Supply of OECD Commercial Stocks). Preliminary 2008 data for the U.S. and Japan indicate current inventory trends are mixed, improving in the United States but declining relative to the 5-year average in Japan. Expected oil production and oil consumption levels should keep total OECD inventories below the 5-year average at the end of March, before rising to the 5-year average by the end of the year.

U.S. Petroleum

Consumption. Total petroleum consumption of liquid fuels and other petroleum products averaged 20.7 million bbl/d in 2007, up only 10,000 bbl/d from 2006 (U.S. Petroleum Products Consumption Growth). Consumption of liquid fuels and other petroleum products is projected to grow by 40,000 bbl/d in 2008, a downward revision of 100,000 bbl/d from the previous Outlook. After accounting for projected increases in ethanol use, U.S. petroleum consumption falls by 90,000 bbl/d. Based on the forecast of declining real GDP during the first half of this year as well as record high motor gasoline prices, gasoline consumption, having increased only 0.4 percent last year, is projected to increase only 0.3 percent this year and 0.7 percent in 2009. Distillate fuel consumption growth is projected to slow from 1.2 percent in 2007 to 0.7 percent this year before rising slightly to 1.0 percent in 2009.

Production. In 2007, domestic crude oil output is estimated to have averaged 5.1 million bbl/d, unchanged from 2006 (U.S. Crude Oil Production), but is projected to decline slightly in 2008. Output in the Federal Gulf of Mexico, where the Atlantis deepwater platform began production in late 2007, is projected to grow this year, but Alaska and the Lower-48 States are expected to see declines. In 2009, output is projected to grow by 5.1 percent, or about 260,000 bbl/d, mainly because of the start-up of the Thunder Horse and Tahiti platforms in the Gulf of Mexico.

Prices. WTI crude oil prices, which averaged $72.32 per barrel in 2007, are projected to average $94.11 and $85.92 per barrel, respectively, in 2008 and 2009 (Crude Oil Prices). Regular grade gasoline retail prices, which averaged $2.81 per gallon in 2007, are projected to average $3.21 and $3.06 per gallon, respectively, in 2008 and 2009. Diesel fuel prices, which averaged $2.88 per gallon last year, are projected to average $3.45 and $3.22 per gallon, respectively, in 2008 and 2009. The monthly average gasoline price is projected to peak at just under $3.50 per gallon this spring, while diesel prices are expected to average around $3.70 per gallon in March and April.

Inventories. At the onset of the peak driving season (April 1), total gasoline stocks are projected to be 224 million barrels, 22.3 million barrels above last year and 18.6 million barrels above the 5-year average (U.S. Gasoline and Distillate Inventories). Although distillate fuel (diesel fuel and heating oil) inventories ended February about 6 million barrels below the same time last year, they are at the 5-year average and are projected to stay close to the average over the forecast period.

Natural Gas

Consumption. Growth in total natural gas consumption is expected to slow from 6.4 percent in 2007 to 0.7 percent in 2008 and 0.8 percent in 2009 (Total U.S. Natural Gas Consumption Growth). In 2009 total natural gas consumption is expected to reach a record 23.4 trillion cubic feet. Natural gas consumption in the electric power sector, which makes up about 30 percent of total natural gas consumption, grew by over 10 percent in 2007 but is expected to decline slightly in 2008 because of the projected milder summer temperatures. Natural gas consumption in the industrial sector is also projected to decline by 0.2 percent in 2008 because of slowing economic growth.

Production and Imports. Total U.S. marketed natural gas production is expected to increase by 2.9 percent in 2008 and by 0.3 percent in 2009. New deepwater supply infrastructure, which came online at the end of 2007, is expected to drive growth of 5.8 percent in the Gulf of Mexico in 2008. In addition, production from the Lower-48 onshore region is expected to increase by 2.5 percent in 2008 led by the development of unconventional supply sources.

Imports of liquefied natural gas (LNG) are projected to be about 770 billion cubic feet (Bcf) for 2008, or about the same amount imported in 2007. Trinidad and Tobago is expected to remain the primary source of U.S. LNG imports through the forecast period. New liquefaction capacity under construction in Qatar and recent startups in Equatorial Guinea, Nigeria, and Norway are expected to boost the global supply of LNG and contribute to an increase in LNG shipments to the United States later this year and in 2009. Next year, volumes are projected to total 995 Bcf.

Inventories. On February 29, 2008, working natural gas in storage was 1,484 Bcf (U.S. Working Natural Gas in Storage). Current inventories are now 63 Bcf above the 5-year average (2003-2007) and 169 Bcf below the level during the corresponding week last year.

Prices. The Henry Hub spot price averaged $8.76 per Mcf in February, $0.51 per Mcf more than the average January spot price. Cold weather so far in the first quarter has kept pressure on prices, which are expected to decline as space heating demand begins to wane in April. On an annual basis, the Henry Hub spot price is expected to average about $8.18 per Mcf in 2008 and $7.95 per Mcf in 2009.

Electricity

Consumption. Total electricity consumption is expected to grow by only 0.4 percent in 2008, then return to a growth rate of 1.5 percent in 2009 (U.S. Total Electricity Consumption). Growth in natural-gas-fired generation is expected to be relatively flat this year due to the assumption that summer temperatures will fall back to near-normal levels. On the other hand, generation by wind power is expected to grow by 37 percent in 2008. Power generators have responded to renewable portfolio standards by rapidly installing wind turbines, which accounted for 25 percent of new electric generating capacity in 2007.

Prices. Residential electricity prices are expected to increase by 2.4 percent this year, slightly higher than the 2008 growth projection in last month’s Outlook, and then grow by 2.9 percent in 2009 (U.S. Residential Electricity Prices).

Coal

Consumption. Electric-power-sector coal consumption grew by 1.9 percent in 2007. Slow growth in electricity consumption, combined with increases in hydroelectric generation, will dampen growth in electric-power-sector coal consumption to 0.3 percent in 2008. Electric-power-sector coal consumption is projected to increase by an additional 0.4 percent in 2009 (U.S. Coal Consumption Growth).

Production and Inventories. U.S. coal production (U.S. Coal Production) is estimated to have fallen by 1.3 percent in 2007. Projected weak demand for coal in 2008 and 2009 will result in only a 0.1-percent increase in coal production in 2008 followed by 0.2-percent growth in 2009. In the Western region, the Nation’s largest coal-producing region, production is expected to increase by 0.7 percent in 2008, but decrease by 0.6 percent in 2009. Total coal stocks are estimated to have grown by 1.6 percent in 2007 to 190 million short tons. Total coal stocks are expected to rise by 1.1 percent in 2008 and remain at that level (192 million short tons) in 2009.

VANCOUVER, BC, Mar 06, 2008 -- Lexaria Corp. (OTCBB: LXRA) (the "Company" or "Lexaria") is pleased to announce an increase in revenues for the first fiscal quarter ending January 31, 2008 and has for the first time generated positive cash flow.

For the three months ending January 31, 2008, Lexaria recorded revenue of $354,340 compared to just $21,127 in the quarter ending January 21, 2007. The increase in revenue is due to increased oil and natural gas production and is evidence of Lexaria's sensible business plan that has concentrated on building a sustainable business and operating company.

President Chris Bunka said, "While our absolute numbers are still small, I've always been confident that we would turn cash flow positive and begin to generate a gross profit. Lexaria is growing rapidly and I expect to exit 2008 at far higher production and revenue rates than we began the year. This is the year that we grow our cash flows to a sufficient degree to allow us to reinvest and accelerate our growth."

During the rest of 2008, Lexaria's focus will be first on the low-risk development of the Belmont Lake oil field, where it believes much larger increases in oil production are possible. The Company believes this will build production and cash flow rapidly and with the least risk possible. Additional exploration wells will also be drilled on and near the 32,000 acre Palmetto Point area.

During the quarter the Company produced from three oil wells in Mississippi; one oil & gas well in Oklahoma; and about nine gas wells in Mississippi. Production from most of the Mississippi wells has still not reached normalized rates and so variances in current and future production should be expected. Operations are underway to install pumps at the two Belmont Lake oil wells, which when complete should normalize production at average rates that are higher than current rates.

Lexaria has filed its Form 10QSB at the SEC Edgar website.

Investors are invited to visit the Lexaria Corp. IR Hub at www.agoracom.com/IR/Lexaria where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to LXRA@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.

About Lexaria Corp.

Lexaria Corp. is an oil & gas company active in Mississippi, Oklahoma and in Alberta, Canada. The main focus currently is Mississippi, where it holds between 30% and 50% gross interests in various gas and oil projects. Lexaria routinely evaluates additional oil & gas projects and corporate opportunities.

Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration because of mechanical, operating, financial or other problems; capital expenditures that are higher than anticipated; or exploration opportunities being fewer than currently anticipated. There can be no assurance that expected oil and gas production will actually materialize; and thus no assurance that expected revenue will actually occur. Such forward looking statements also include estimated cash flows, revenue and current and/or future rates of production of oil and natural gas, which can and will fluctuate for a variety of reasons; oil and gas reserve quantities produced by third parties; and intentions to participate in future exploration drilling. The Company may not have sufficient expertise to thoroughly exploit its oil and gas properties. The Company may not have sufficient funding to thoroughly explore, drill or develop its properties. Access to capital, or lack thereof, is a major risk. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.

Contact:

Leonard MacMillan

1-800-287-2885

 www.lexariaenergy.com

Dr. DeMartini has prepared customized software and is applying it to existing seismic data, to help better differentiate certain structures to assist the Company as it continues to prioritize its many oil and gas targets in the region. Prior to being appointed Chief Scientific Advisor, Dr. DeMartini had been engaged as a consultant to Lexaria.

Dr. DeMartini is a recognized expert in several geophysical fields including seismic "bright spot" data analysis. He held various senior positions at the Shell Bellaire Research Center in Houston Texas from 1980 through 1998. He was inducted to the Offshore Energy Center Hall of Fame as a Technology Pioneer last year and was for several years a member of the Dean's Advisory Council of the College of Mathematical and Physical Sciences at The Ohio State University from which he received a PhD in Physics following his B.S. in Physics cum laude from the University of Notre Dame.

Dr. DeMartini is a thorough investigator and prolific author, having contributed to 19 public-domain publications and many more proprietary to Shell.

"Lexaria is building its knowledge base of previously overlooked structures in Louisiana and Mississippi and Dr. DeMartini is spearheading our efforts in this regard," said Chris Bunka, CEO of Lexaria Corp.

Investors are invited to visit the Lexaria Corp. IR Hub at www.agoracom.com/IR/Lexaria where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to LXRA@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.

About Lexaria Corp.

Lexaria Corp. is an oil & gas company active in Mississippi, Oklahoma and in Alberta, Canada. The main focus currently is Mississippi, where it holds between 30% and 50% gross interests in various gas and oil projects. Lexaria routinely evaluates additional oil & gas projects and corporate opportunities.

Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration because of mechanical, operating, financial or other problems; capital expenditures that are higher than anticipated; or exploration opportunities being fewer than currently anticipated. Such forward looking statements also include estimated cash flows and current and/or future rates of production of oil and natural gas, which can and will fluctuate for a variety of reasons; oil and gas reserve quantities produced by third parties; and intentions to participate in future exploration drilling. The Company may not have sufficient expertise to thoroughly exploit its oil and gas properties. The Company may not have sufficient funding to thoroughly explore, drill or develop its properties. Access to capital, or lack thereof, is a major risk. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.

Contact:

Contact:

Leonard MacMillan

1-800-287-2885

http://www.lexariaenergy.com

VANCOUVER, BC, Jan 03, 2008 -- Lexaria Corp. (OTCBB: LXRA) (the "Company" or "Lexaria") announces an increase in oil and gas production and discusses plans for 2008.

PP F 52 BEGINS OIL PRODUCTION

Lexaria Corp. is pleased to announce that a third well in Mississippi has begun production of oil. The well, acquired in 2006 as part of the 12-well Phase I drill program, was earlier completed as a gas well and began producing gas in mid-October, 2007. Small amounts of oil production began two weeks later and by mid-December the well was producing an average of over 100 mcf/d of natural gas and an average of 55 barrels of oil per day.

This newly producing oil well, the PP -F52, is located some 12 miles from the Company's Belmont Lake oil field. At this time the Company cannot project the potential oil reserves or production from this well, which were assigned a valuation of zero in its most recent proved reserves report. Lexaria has a 30% gross working interest in this well and all other wells under the Phase I agreement.

SALT-WATER DISPOSAL WELL ALLOWS FOR INCREASED GAS PRODUCTION

In the greater Palmetto Point area, Lexaria notes that its operator has recently completed a salt-water disposal well, which is beginning to be used to dispose of excess water produced as a by-product of certain of its gas wells. This new salt-water disposal well will decrease operational costs and is expected to improve the operational productivity of several existing gas wells. Additional existing nearby gas wells will be connected to this disposal well as quickly as possible, thereby increasing field gas production.

CAPITAL PLAN FOR BELMONT LAKE OIL FIELD FOR 2008

Lexaria and its operator currently plan to drill a horizontal development well in mid-2008, to more fully exploit the Belmont Lake oil field. While precise details are not yet finalized, Lexaria expects this proposed new well to offer the possibility of a substantial increase in oil production and cash flow. Under the current planned scenario, this proposed horizontal well has the ability to have a material impact on the Company's operational performance in 2008.

The Company continues to analyze different exploration and development scenarios for 2008. However as a corporate goal, Lexaria expects to between double and triple its production by the end of December, 2008 based on expected cash flows from existing producing wells.

Lexaria notes that its current cash position combined with cash flow from operations is expected to be roughly sufficient to meet all current obligations and expenses throughout most or all of 2008, including the drilling of the above-mentioned horizontal development well.

Separately, Lexaria notes that a recent exploration well, the PP F-6A, was abandoned due to encountering only non-commercial quantities of gas.

Investors are invited to visit the Lexaria Corp.IR Hub at www.agoracom.com/IR/Lexaria where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to LXRA@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.

About Lexaria Corp.

Lexaria Corp. is an oil & gas company active in Mississippi, Oklahoma and in Alberta, Canada. The main focus currently is Mississippi, where it holds between 30% and 50% gross interests in various gas and oil projects. Lexaria routinely evaluates additional oil & gas projects and corporate opportunities.

Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration because of mechanical, operating, financial or other problems; capital expenditures that are higher than anticipated; or exploration opportunities being fewer than currently anticipated. Such forward looking statements also include estimated cash flows and current and/or future rates of production of oil and natural gas, which can and will fluctuate for a variety of reasons; oil and gas reserve quantities produced by third parties; and intentions to participate in future exploration drilling. The Company may not have sufficient funding to thoroughly explore, drill or develop its properties. Access to capital, or lack thereof, is a major risk. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.

Contact: Leonard MacMillan 1-800-287-2885

 www.lexariaenergy.com

http://www.lexariaenergy.com

In the 12 months ending October 31, 2007, the Company increased its gas reserves by 638%. It increased its net oil reserves to 78,698 barrels compared to none one year earlier. Future net income after expenses and royalty tax increased by 3,467%. The present value of future net income, discounted by 10%, increased by 3,443%.

-***-

---------------------------------------------------------------------------

NET          Hydrocarbon   Natural Gas (Mcf) Future NET    Present Worth of

RESERVES as  Liquids (Bbl)                   Income After Future Net Income

of Oct 31,                                   Expenses and   Discounted at

                                             Royalty Tax,$     10%/yr.

---------------------------------------------------------------------------

Proved Developed

Producing       40,158          401,881        4,643,682      3,741,877

---------------------------------------------------------------------------

Proved Developed

Non-Producing     0                0                0              0

---------------------------------------------------------------------------

Proved

Undeveloped     38,540             0           2,516,550      1,969,420

---------------------------------------------------------------------------

TOTAL PROVED    78,698          401,881       $7,160,232     $5,711,297

---------------------------------------------------------------------------

-****-

(All figures based on third-party Licensed Professional Engineer proved reserve reports as of 31/10/07.)

The Company's policy is to only report proved reserves and is therefore not reporting on probable reserves. The proved reserves reported herein reflect Lexaria's Net interests. The Future Net Income category is after estimated operating expenses and royalty taxes have been deducted.

The reserve figures from one year ago are shown below for comparison:

-***-

---------------------------------------------------------------------------

NET          Hydrocarbon   Natural Gas (Mcf) Future NET    Present Worth of

RESERVES as  Liquids (Bbl)                   Income After Future Net Income

of Oct 31,                                   Expenses and   Discounted at

                                             Royalty Tax,$     10%/yr.

---------------------------------------------------------------------------

Proved Developed

Producing         0             62,960          206,510         165,860

---------------------------------------------------------------------------

Proved Developed

Non-Producing     0               0                0               0

---------------------------------------------------------------------------

Proved

Undeveloped       0               0                0               0

---------------------------------------------------------------------------

TOTAL PROVED      0             62,960         $206,510        $165,860

---------------------------------------------------------------------------

-****-

(All figures based on third-party Licensed Professional Engineer proved reserve report as of 31/10/06.)

Approximately 78% of the Company's reserves, by value, are oil; and 22% are natural gas. All of the increases in oil reserves are the result of successful exploration programmes, as are the vast majority of the increases in natural gas reserves. Lexaria plans to continue the development of the Belmont Lake oil field in 2008, as well as explore for additional new oil and natural gas fields in its Mississippi projects.

President Chris Bunka said, "I'm pleased that in our first full year as a public company, we've created real value through our exploration and development programs in Mississippi and Oklahoma. I'm confident that we can continue to add value through further development of our existing Belmont Lake oil field, and through additional exploration drilling. We're also considering the opportunities in additional properties."

The Company is currently producing oil from 3 wells; and is producing natural gas from 11 wells. An additional 4 natural gas wells are either waiting to be connected or temporarily shut-in. Current total gross monthly cash flow is estimated at approximately $150,000 per month and is expected to result in positive net cash flow for the first quarter of fiscal 2008 ending January 31, 2008.

Separately, the Company also announces it has recently entered into a debt financing agreement of a total of $500,000, of which $250,000 was provided by the President of the Company. These funds will primarily be used for drilling and completion operations.

Investors are invited to visit the Lexaria Corp.IR Hub at www.agoracom.com/IR/Lexaria where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to LXRA@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.

About Lexaria Corp.

Lexaria Corp. is an oil & gas company active in Mississippi, Oklahoma and in Alberta, Canada. The main focus currently is Mississippi, where it holds between 30% and 50% gross interests in various gas and oil projects. Lexaria routinely evaluates additional oil & gas projects and corporate opportunities.

Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration because of mechanical, operating, financial or other problems; capital expenditures that are higher than anticipated; or exploration opportunities being fewer than currently anticipated. Such forward-looking statements also include estimated cash flow of approximately $150,000 per month, oil and gas reserve quantities produced by third parties, and intentions to participate in future exploration drilling. The Company may not have sufficient funding to thoroughly explore, drill or develop its properties. Access to capital, or lack thereof, is a major risk. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.

Contact:

     Contact:

     Leonard MacMillan

     1-800-287-2885

     http://www.lexariaenergy.com

NEW WELLS.

Lexaria expects to participate in the drilling of two more exploration wells in the Palmetto Point area of Southwestern Mississippi prior to Christmas shutdowns, subject to acceptable field conditions. The new drill locations have been reviewed by an independent third party geophysicist and confirmed by Lexaria's Operator. Although all exploration wells should be considered high-risk, Lexaria has a high degree of confidence in these proposed well locations. Lexaria owns a 50% gross interest in these two wells as well as future wells in this area.

BELMONT LAKE OIL FIELD UPDATE.

The Company previously announced an important oil discovery at Belmont Lake. The original oil discovery well in the Belmont Lake oil field was the PP F-12 which began production on Oct 2 and is currently producing approx. 110 barrels of oil per day. This well intersected 26-feet of oil pay. The second well in this field, the PP F-12-3, intersected 32-feet of oil pay and is now producing at a rate higher than 115 barrels of oil per day. Both these wells are flowing unassisted and are producing at rates higher than the Company had expected. Lexaria Corp. has a 30% gross interest in these wells and in the development wells expected to be drilled in this oil field. The Company expects that there could ultimately be as many as 6-8 wells eventually producing from this Belmont Lake oil field.

The Company expects the production from the existing oil wells to substantially contribute towards an immediate goal of achieving positive cash flow. Meanwhile Lexaria also continues its review of seismic and other data to prioritize additional exploration targets as it attempts to replicate the Belmont Lake success.

MISSISSIPPI GAS PRODUCTION.

Lexaria continues to produce natural gas in previously-drilled gas wells. Currently Lexaria is producing natural gas from 8 wells, and has another 4 gas wells temporarily shut-in but expected to begin or resume production during the current fiscal quarter.

OKLAHOMA OIL PRODUCTION.

Lexaria Corp also has one producing oil well in Oklahoma. The Isbill #2-36 well continues to produce at an average rate of between 40-45 barrels of oil per day, with slightly more than 10Mcf/d natural gas. Lexaria owns a 7.5% interest in this well and subsequent wells to be drilled on this lease. The more recently drilled Isbill #3-36 did not encounter commercial quantities of hydrocarbons and was plugged and abandoned.

SUMMARY.

Lexaria Corp holds a gross 30% working interest in the wells of the Belmont Lake Oil Field. Lexaria also holds a gross 50% working interest in future wells in the Palmetto Point area, which surrounds on all sides the Belmont Lake lease. All 32,000 acres of the Palmetto Point area have been shot with 3D seismic. Palmetto Point is one area of focus within the larger roughly 200,000 acre area in which the Company is working within a 50-well area of mutual interest.

Investors are invited to visit the Lexaria Corp. IR Hub at www.agoracom.com/IR/Lexaria where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to LXRA@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.

About Lexaria Corp.

Lexaria Corp. is an oil & gas company active in Mississippi, Oklahoma and in Alberta, Canada. The main focus currently is Mississippi, where it holds between 30% and 50% gross interests in various gas and oil projects. Lexaria routinely evaluates additional oil & gas projects and corporate opportunities.

Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration because of mechanical, operating, financial or other problems; capital expenditures that are higher than anticipated; or exploration opportunities being fewer than currently anticipated. The Company may not have sufficient funding to thoroughly explore, drill or develop its properties. Access to capital, or lack thereof, is a major risk. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
Contact:

     Contact:

     Leonard MacMillan

     1-800-287-2885

     http://www.lexariaenergy.com

The PP F-12-3 well has been tested at 116 bopd on a 13/64 choke. No formation water has been encountered during the test. The well is presently being connected to local facilities for production, which is expected within several days.

The PP F-12-3 is the first well drilled into the field after the PP F-12-1 discovery well. The operator is evaluating all relevant data, including down-hole pressure; flow rates; etc, before determining exactly when the next well will be drilled.

The original PP F-12-1 discovery well has been producing since October 2. Production appears to have stabilized at slightly over 110 bopd on a 11/64 choke with no formation water and no gas production.

These wells will contribute to the understanding of this oil field as more complete field development is expected in 2008. Lexaria Corp. is also trying to isolate, through seismic and other data review, whether the characteristics of Frio Oil deposits such as Belmont Lake are identifiable in other currently prioritized Bright Spot seismic targets.

Lexaria Corp holds a gross 30% working interest in the Belmont Lake Oil Field. Lexaria also holds a gross 50% working interest in future wells in the Palmetto Point area, which surrounds on all sides the Belmont Lake lease. All 32,000 acres of the Palmetto Point area have been shot with 3D seismic.

Investors are invited to visit the Lexaria Corp. IR Hub at www.agoracom.com/IR/Lexaria where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to LXRA@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.

About Lexaria Corp.

Lexaria Corp. is an oil & gas company active in Mississippi, Oklahoma and in Alberta, Canada. The main focus currently is Mississippi, where it holds between 30% and 50% gross interests in various gas and oil projects. Lexaria routinely evaluates additional oil & gas projects and corporate opportunities.

Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration because of mechanical, operating, financial or other problems; capital expenditures that are higher than anticipated; or exploration opportunities being fewer than currently anticipated. The Company may not have sufficient funding to thoroughly explore, drill or develop its properties. Access to capital, or lack thereof, is a major risk. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.

Contact:

     Contact:

     Leonard MacMillan

     1-800-287-2885

     http://www.lexariaenergy.com

Since September, Dr. DeMartini has been writing customized software to use in this effort for Lexaria Corp. and is applying it to existing seismic data, to help better understand the structures of the area and assist the Company as it tries to prioritize its many oil and gas targets in the region.

Dr. DeMartini is a recognized expert in several geophysical fields including seismic "bright spot" data analysis. He held various senior positions at the Shell Bellaire Research Center in Houston Texas from 1980 through 1998. He was inducted to the Offshore Energy Center Hall of Fame as a Technology Pioneer last year and was for several years a member of the Dean's Advisory Council of the College of Mathematical and Physical Sciences at The Ohio State University from which he received a PhD in Physics following his B.S. in Physics cum laude from the University of Notre Dame.

Dr. DeMartini is a thorough investigator and prolific author, having contributed to 19 public-domain publications and many more proprietary to Shell.

"Lexaria is fortunate to have been able to attract a geophysicist of Dr. DeMartini's caliber. I whole-heartedly welcome David to our team," said Chris Bunka, CEO of Lexaria Corp.

About Lexaria Corp.

Lexaria Corp. is an oil & gas company active in Mississippi, Oklahoma and in Alberta, Canada. The main focus currently is Mississippi, where it holds between 30% and 50% gross interests in various gas and oil projects. Lexaria routinely evaluates additional oil & gas projects and corporate opportunities.

Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration because of mechanical, operating, financial or other problems; capital expenditures that are higher than anticipated; or exploration opportunities being fewer than currently anticipated. The Company may not have sufficient funding to thoroughly explore, drill or develop its properties. Access to capital or lack thereof, is a major risk. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.

Contact:

Contact:

Leonard MacMillan

1-800-287-2885

http://www.lexariaenergy.com

Please find below a link to an article which was published by Lloyds List, a London newspaper that attended Lexaria's Institutional Presentation in London recently.

Link : http://www.agoracom.com/executive/Le...

ABOUT LLOYD’S LIST

SINCE its birth in Edward Lloyd’s London coffee shop in 1734, Lloyd’s List has been informing and guiding the thinking of business leaders and decision-makers the world over. Two and a half centuries later, the culture that spawned the provision of expert, authoritative coverage of the global shipping markets is as strong as ever.

But Lloyd’s List is not solely about shipping. On the internet site and in the pages of the daily newspaper you will also find in-depth coverage of marine insurance, offshore energy, logistics, global trade and law.

Lloyd’s Coffee House in 1798: the world centre of marine insurance and the hub of the intelligence and news gathering operations of Lloyd’s List.

Lloyd’s writers generate an unrivalled daily source of news and comment, acting not just as the voice of the shipping industry but sometimes its conscience too. A dedicated newsroom and staff in London are mirrored by a network of correspondents sited strategically in the world’s crucial shipping centres, ensuring that our coverage is up-the-minute as well as global.

In addition to five daily editions a week and web presence, Lloyd’s List produces hundreds of supplements and special reports every year targeted at specific markets in the maritime sector and related industries. It publishes the industry’s first and best shipmanagement magazine, LSM and Maritime Asia, written and produced in the local market.

Lloyd’s List is the flagship of the Maritime and Transport division of London-listed Informa plc, a leading international provider of specialist information services to the professional, commercial, academic and scientific business communities

Regards,
AGORACOM Investor Relations