LGX Oil + Gas Inc. began considering several strategic alternatives to enhance shareholder value, as it believes its current share price is not reflective of the long-term value of its asset base, the company said Feb. 1.

Alternatives include selling all or some assets; selling the company or merging with a third party; carrying out another transaction with a third party or alternative financing.

Sayer Energy Advisors was retained for the review and strategic alternatives analysis, Calgary, Alberta-based LGX said.