SOURCE: Lexaria Corporation

November 14, 2007 09:00 ET

New Oil Well Confirmed

VANCOUVER, BC--(Marketwire - November 14, 2007) - Lexaria Corp. (OTCBB: LXRA) (the "Company" or "Lexaria") Lexaria is pleased to announce that the Belmont Lake Oil Field discovery is exceeding expectations through the successful production of the new PP F-12-3 step-out oil well.

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.

Press Release #200725

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