10-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-K

(Mark One)

[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended October 31, 2013

[  ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from [  ] to [  ]

Commission file number 000-52138

LEXARIA CORP.
(Exact name of registrant as specified in its charter)

Nevada	20-2000871
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
#950-1130 WEST PENDER STREET, VANCOUVER, BRITISH
COLUMBIA, CANADA	V6E 4A4
(Address of principal executive offices)	(Zip Code)

Registrant's telephone number, including area code: 604-602-1675

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class	Name of Each Exchange On Which Registered
N/A	N/A

Securities registered pursuant to Section 12(g) of the Act:

Common Stock, Par Value $0.001
(Title of class)

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 the Securities Act.

Yes [_]    No X

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act

Yes [_]    No X

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the last 90 days.

Yes X    No [   ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-K (§229.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes X    No  [   ]

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definition of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer [   ]	Accelerated filer [   ]
Non-accelerated filer [   ]	Smaller reporting company X

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes [_]   No X

The aggregate market value of Common Stock held by non-affiliates of the Registrant on April 30, 2013 was $570,547 based on the average of the high and low bid and asked price of the Registrant’s shares of common stock on the OTC Bulletin Board or $0.07 on April 30, 2013. For purposes of this computation, all executive officers and directors have been deemed to be affiliates. Such determination should not be deemed to be an admission that such executive officers and directors are, in fact, affiliates of the Registrant.

Indicate the number of shares outstanding of each of the registrant’s classes of common stock as of the latest practicable date.

16,931,452 common shares as of January 24, 2014

DOCUMENTS INCORPORATED BY REFERENCE

None.

TABLE OF CONTENTS

Item 1.	Business	4
Item 1A.	Risk Factors	8
Item 1B.	Unresolved Staff Comments	13
Item 2.	Properties	13
Item 3.	Legal Proceedings	23
Item 4.	Removed and Reserved	23
Item 5.	Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	23
Item 6.	Selected Financial Data	25
Item 7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	26
Item 7A.	Quantitative and Qualitative Disclosures About Market Risk	31
Item 8.	Financial Statements and Supplementary Data	31
Item 9.	Changes in and Disagreements With Accountants on Accounting and Financial Disclosure	60
Item 9A.	Controls and Procedures	60
Item 9B.	Other Information	61
Item 10.	Directors, Executive Officers and Corporate Governance	61
Item 11.	Executive Compensation	65
Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	68
Item 13.	Certain Relationships and Related Transactions, and Director Independence	69
Item 14.	Principal Accounting Fees and Services	69
Item 15.	Exhibits, Financial Statement Schedules	71

PART I

Item 1. Business

This annual report contains forward-looking statements. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, including the risks in the section entitled “Risk Factors” that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.

Our financial statements are stated in United States Dollars (US$) and are prepared in accordance with United States Generally Accepted Accounting Principles.

In this annual report, unless otherwise specified, all dollar amounts are expressed in United States dollars and all references to “common shares” refer to the shares in our common stock. References to “CAD$” refers to Canadian dollars.

As used in this current report and unless otherwise indicated, the terms "we", "us", "our" and "our company" mean Lexaria Corp.

General Overview

We were incorporated in the State of Nevada on December 9, 2004. We are an exploration and development oil and gas company currently engaged in the exploration for and development of petroleum and natural gas in North America. We maintain our registered agent's office and our U.S. business office at Nevada Agency and Transfer Company, 50 West Liberty, Suite 880, Reno, Nevada 89501. Our telephone number is (755) 322-0626.

The address of our principal executive office is Suite 950, 1130 West Pender Street, Vancouver, British Columbia V6E 4A4. Our telephone number is (604) 602-1675. We have an additional office located in Kelowna. British Columbia.

Our common stock is quoted on the OTC Bulletin Board under the symbol "LXRP" and on the Canadian National Stock Exchange under the symbol “LXX”.

We are an oil and gas company engaged in the exploration for oil and natural gas in Canada and the United States. Our company is currently generating revenues from our business operations in Mississippi. Our company’s business plan is to focus on development of the Belmont Lake oil field, in which we have working interests, in order to maximize cash flow and use excess cash flow to pay debt and conduct additional development well drilling. Eventually our company will seek a balance between exploration, development and exploitation drilling. To achieve sustainable and profitable growth, our company intends to control the timing and costs of our projects wherever possible. Our company is not currently the operator of any of our properties and will consider becoming the operator only when financial conditions have improved sufficiently.

Overview of Business over the Last Five Years

Since we began operations in 2005, we have been focused exclusively on the exploration for and development of oil and gas assets located in North America. We participated in the drilling of a single well in Strachan Hills Alberta and eventually wrote down the value of that well to $nil. We participated in the drilling of wells in Oklahoma where we successfully produced and sold oil and gas prior to selling our interest in the Oklahoma properties. We have participated in the drilling of oil and gas wells in Mississippi and remain focused there as our key area of interest with all our current assets within Amite and Wilkinson Counties, Mississippi.

On June 21, 2007, we acquired an assignment of a 10% gross working interest in an Area of Mutual Interest (AMI) formerly held by Brinx Resources Ltd, a non-related company, in up to 50 oil & gas wells to be drilled, and any future development prospects thereof associated, located in Mississippi, USA. Interests in seven wells previously drilled under the conditions of the AMI remain the property of Brinx Resources Ltd. and we are not a party to Brinx’s interest in these wells, while the right to assume the 10% gross working interest in the remaining 43 wells and any future development prospects thereof, now belongs to our company. Because we already had a 40% gross working interest in this AMI, as a result of this transaction, we had a 50% gross working interest in the AMI.

On June 23, 2007, we acquired an assignment of a 10% gross working interest in 12 previously drilled oil & gas wells and any future development prospects thereof, formerly held by 0743868 BC Ltd., a non-related company. Since we already had a 20% gross working interest in these same 12 oil and gas wells and development prospects, as a result of this transaction we then had a 30% gross working interest in the 12 oil & gas wells and development prospects. We were obligated to make cash payments of US$520,000 over approximately a one-year period to complete this transaction ($200,000 paid as of October 31, 2007). Our company had made total of $350,000 repayment and accrued $18,016 interest expense since June 23, 2007 with ending balance of $169,938 as at October 31, 2012.

On May 13, 2008 our company entered into an Assignment of Debt between 0743868 BC Ltd. (the “Assignor”) and our president and shareholder of our company (collectively the “Assignees”). The Assignor agreed to accept US$46,000 from our company in satisfaction of the outstanding amount and agreed to assign the Assignees all of the Assignor’s right, title and interest in and to the US$124,000 balance of the outstanding amount. As a result, the Assignor no longer has any claim against our company.

On May 14, 2008 our company entered into an unsecured Loan Agreement with each of our president and a shareholder of our company for $62,000. The purpose of this Loan Agreement was to set out terms of the arrangement by which our company agreed to make a Loan of US$124,000 at an interest rate of 16.8% and no set principal payments for one year available to our company. The purpose of the Loan Agreement was to provide our company with capital funds for oil and gas exploration and/or general corporate purposes. On October 27, 2008, the loan from the President in the amount of US$62,000 was terminated in favour of an updated debt agreement.

On August 29, 2008, our company sold all of our working interests in our Owl Creek Project, located in Garvin County, Oklahoma, to an unrelated third party for net proceeds of $206,021. The property sold included our company’s 7.5% working interest in Isbill #2.

On October 27, 2008, our company entered into a Purchase Agreement with CAB Financial Services Ltd., Chris Bunka, and another shareholder of our company (“Purchasers”) for an aggregate amount of nine hundred thousand Canadian dollars CAD $900,000. The Purchasers agreed to purchase an 18% interest bearing Promissory Note of our company subject to and upon the terms and conditions of the Purchase Agreement.

Our company’s obligations to repay the Promissory Note are secured by certain specified assets of our company pursuant to a Security Agreement. Also, as long as the Promissory Note is outstanding, the Purchasers may voluntarily convert the Promissory Note to shares of common stock of our company at the conversion price of $0.45 per share. Additionally, in consideration for the Purchasers agreeing to purchase the Promissory Notes, our company agrees to issue Warrants to the Purchasers.

Each Warrant entitles the Purchaser to acquire shares of common stock of our company, and the number of Series A and B Warrants issuable shall be determined by the Purchase Amount divided by $0.45, which Warrants shall have the following terms:

1.	each Series A Warrant entitling the holder to purchase one-half of one Warrant Share for a term of one year from issuance and an exercise price of US $0.45 per whole Warrant Share (the exercise price is subject to adjustment pursuant to the loan agreement);
2.	each Series B Warrant entitling the holder to purchase one-half of one Warrant Share for a term of two years from issuance and exercise price of US $0.90 per whole Warrant Share (the exercise price is subject to adjustment pursuant to the loan agreement); and
3.	Mandatory conversion of the Warrants at the option of the Company upon the Company’s Common Stock closing at 200% of the applicable exercise price for twenty consecutive Trading Days.
4.	Two whole Warrants and the exercise price are required to purchase one share of the Company.

On April 3, 2009, our company entered into an Asset Purchase Agreement with Delta Oil & Gas, Inc. and The Stallion Group to acquire additional interests in its existing core producing Mississippi oil and gas properties. Our company paid $40,073 to acquire an additional two percent (2%) working interest in the proven Belmont Lake oil and gas field and an additional 10% working interest in potential nearby exploration wells, bringing our total gross working interest in the Belmont Lake oil and gas field to 32% and bringing our total gross working interest to 60% in the 38 wells that remain to be drilled of this original 50-well option with Griffin & Griffin Exploration in over 140,000 acres surrounding Belmont Lake in all directions.

On August 28, 2009, our company entered into four separate assignment agreements with Enertopia Corp., 0743608 BC Ltd., David DeMartini, and Murrayfield Ltd., three of which are people or companies with related management. Our company received from these four parties proceeds of $371,609 to fund additional interests in a new well. As a result, our company has a 25.84% perpetual gross interest in the well (18.0% net revenue interest); as well as a 5.2% net revenue interest in the non-consent interest. The non-consent interest remains valid until such time as the well produces 500% of all costs and expenses back to the participants in the form of revenue, at which time the non-consent interest ends. Enertopia Corp, a company with related management, acquired from our company a 6.16% perpetual gross interest in the 12-4 well; David DeMartini, a director of our company, acquired from our company a 5% gross interest in the non-consent interest in the 12-4 well; and 0743608 BC Ltd. a company owned by our president, acquired from our company a 11.6% gross interest in the non-consent interest in the 12-4 well.

Effective June 23, 2009, we amended our Articles of Incorporation to effect a one (1) for four (4) share consolidation of our authorized and issued and outstanding common stock. As a result, our company’s authorized capital decreased from 75,000,000 shares of common stock with a par value of $0.001 to 18,750,000 shares of common stock with a par value of $0.001 and our issued and outstanding shares decreased from 24,369,500 shares of common stock to 6,092,370 shares of common stock.

Effective at the opening of trading on October 28, 2009, our shares of common stock began trading on Canadian National Stock Exchange under the trading symbol “LXX”.

On November 13, 2009, our company announced that our Operator in Mississippi, Griffin & Griffin Exploration LLC, had declared force majeure on the Belmont Lake offset wells.

On December 21, 2009, our board of directors amended and restated our bylaws. The purpose of the amendment and restatement of the bylaws was for, among other things, removing certain outdated and redundant provisions that existed in our prior bylaws with respect to corporate governance, shareholder and director meeting procedures, and indemnification procedures. The changes to our prior bylaws include: (i) expanding certain provisions with respect to shareholders’ meetings including change of quorum requirements; (ii) amending certain provisions respecting appointment of directors, corporate governance and committees, and directors’ meetings; (iii) expanding certain provisions with respect to officers and their duties; (iv) changing certain provisions with respect to share certificates; and (vi) adding certain indemnification provisions.

On March 17, 2010, we increased our authorized share capital from 18,750,000 common shares to 200,000,000 common shares.

On May 31, 2010, we issued 499,893 units at at a price of $0.12 per share for a Settlement Agreement valued at $59,987. Each unit consist one share of common stock and one share purchase warrant exercisable at $0.20 per share for a period of two years.

On June 16, 2010, we signed a Settlement Agreement with a third party, who had originally participated in the August 28, 2009 opportunity in the non-consent interest for Belmont Lake 12-4. We returned $144,063 to the third party and cancelled its participation.

On July 29, 2010, we agreed with our operators at Belmont Lake not to proceed to drill a horizontal 12-4 well. Rather, two of the three proposed vertical wells 12-2, 12-4, or 12-5 were proposed to be drilled in August 2010. To take best advantage of this opportunity, our company cancelled all previous agreements relating to August 28, 2009 with respect to Belmont Lake horizontal well 12-4 and entered into three separate assignment agreements, of which all three were with people or companies with related management. Our company received total proceeds of $324,677 to fund additional interests in these wells. As a result, our company has a 32% perpetual gross interest in the wells (24.0% net revenue interest); as well as a 8% gross interest (6% net revenue interest) in the non-consent interest. The non-consent interest remains valid until such time as the well produces 500% of all costs and expenses back to the participants in the form of revenue, at which time the non-consent interest ends. Emerald Atlantic LLC, a company owned by a director of our company, has acquired from our company a 8.74% gross interest in the non-consent interest in two of the three vertical wells; and 0743608 BC Ltd. a company owned by our president, has acquired from our company a 20.79% gross interest in the non-consent interest in the two of the three vertical wells; an advisor to our company has acquired from our company 2.46% gross interest in the non-consent interest in two of the three vertical wells.

On September 13, 2010, we entered into three separate assignment agreements with 0743608 BC Ltd, a company solely owned by a director of our company, Emerald Atlantic LLC, a company solely owned by a director of our company, and our Senior VP Business Development. (the “Assignees”), whereby the Assignees have paid a fee of US$408,116 to earn a 24% share of our company’s gross non-perpetual 32% interest in the three oil wells being drilled in Wilkinson County, Mississippi. This agreement replaces the one signed on August 28, 2009. As a result of the three assignment agreements, we receive at no cost to our company, a carried interest of 8% in these same rights and benefits. Our company assigns, transfers and sets over to the Assignees, all proportionate rights, interest and benefits in the Assigned Non Perpetual Interest held by or granted to the Assignor in and to the Participation Agreement between our company and Griffin but limited to a gross 500% revenue payout based on the total amount paid under the Initial Consideration and the Subsequent Consideration after which all rights, interests and benefits cease.

On October 21, 2010, we settled a portion of the debt in the amount of $1,625 with CAB Financial Services by converting 65,000 warrants into 32,500 shares of common stock of our company pursuant to a Purchase Agreement dated October 27, 2008 at a price of $0.05 per share.

On October 21, 2010, we settled a portion of the debt, in th amount of $2,166.65 with Christopher Bunka, our president by converting 86,667 warrants into 43,333 shares of common stock of our company pursuant to a Purchase Agreement dated October 27, 2008 at a price of $0.05 per share.

In September and October, 2010, new wells 12-2; 12-4 and 12-5 were drilled at the Belmont Lake oil field.

On November 16, 2010, we settled the debt incurred as a result of a consulting agreement, in the amount of $9,376, to Mr. Tom Ihrke by issuing 40,761 restricted shares of common stock of our company at a price of $0.23 per share.

On November 30, 2010, we closed the first tranche of a private placement offering of convertible debentures in the aggregate amount of $450,000. The convertible debentures mature on November 30, 2012, subject to forced conversion as set out in the convertible debenture certificate. The convertible debentures pay an interest rate of 12% per annum (on a simple basis) and are convertible at $0.35 per unit. Each unit is comprised of one share of our common stock and one share purchase warrant. Each warrant entitles the holder thereof to purchase one share of common stock at a price of $0.40 per share from the earlier of the maturity date of the convertible debenture or one year from conversion of the convertible debenture. We also entered into a general security agreement with the subscribers, whereby the obligations to repay the convertible debenture are secured by certain of our assets.

On December 16, 2010, we closed the second tranche of a private placement offering of convertible debentures in the aggregate amount of $170,000. The convertible debentures mature on November 30, 2012, subject to forced conversion as set out in the convertible debenture certificate. The convertible debentures pay an interest rate of 12% per annum (on a simple basis) and are convertible at $0.35 per unit. Each unit is comprised of one share of our common stock and one share purchase warrant. Each warrant entitles the holder thereof to purchase one share of common stock at a price of $0.40 per share from the earlier of the maturity date of the convertible debenture or one year from conversion of the convertible debenture. We also entered into a general security agreement with the subscribers, whereby the obligations to repay the convertible debenture are secured by certain of our assets.

On December 16, 2010, we entered into an assignment agreement with Emerald Atlantic LLC, a company solely owned by a director of our company (the Assignee”), whereby the Assignee has paid a fee of $30,076 to earn 18% of a 4.423% share of our company’s net revenue interest after field operating expenses for a well to be drilled in Wilkinson County.

On January 4, 2011, 132,600 warrants were exercised and we issued 66,300 shares of common stock of our company at an exercise price of CAD$0.22 per share for total proceeds of CAD$14,586. Of the 132,600 warrants exercised, 100,000 warrants were exercised by a director of our company.

On March 6, 2011, we accepted and received gross proceeds of $21,250 for the exercise of 106,250 stock options by a director of our company at an exercise price of $0.20 per stock option into 106,250 shares of our common stock.

On June 8, 2011, 1,500,000 warrants were exercised and we issued 1,500,000 shares of our common stock at an exercise price of $0.20 per share for total proceeds of $300,000. The warrants were exercised by a director of our company.

On June 28, 2011, 500,000 warrants were exercised and we issued 500,000 shares of our common stock at an exercise price of $0.20 per share for total proceeds of $100,000. The warrants were exercised by a director of our company.

On October 27, 2008, we made a secured loan agreement in the amount of CAD$300,000 with CAB Financial. On July 10, 2009, $40,000 of the debt was converted to equity. On October 21, 2010, we settled a portion of the debt in the amount of CAD $1,625 with CAB Financial by converting 65,000 warrants into 32,500 shares of our common stock pursuant to a Purchase Agreement dated October 27, 2008 at a price of CAD$0.05 per share. On June 28, 2011, we paid down CAD$100,000 of the debt.

On July 11, 2011, we granted 700,000 stock options to directors and officers of our company at an exercise price of $0.35 per share, which options vest immediately and expire on July 11, 2016.

On July 13, 2011, 173,043 warrants were exercised and we issued 173,043 shares of our common stock at a price of $0.20 per share for total proceeds of $34,608.

On July 13, 2011, we completed an equity financing and issued 200,000 units at $0.35 per unit, for gross proceeds of $70,000. Each unit consists of one share of common stock and one share purchase warrant which entitles a holder to purchase an additional share of common stock at an exercise price of $0.50 per share for a period of two years. All shares and warrants issued were restricted under applicable securities rules.

On July 15, 2011, we accepted and received gross proceeds of $23,750 for the exercise of 118,750 stock options at an exercise price of $0.20 per stock option and issued 118,750 shares of common stock of our company. All of the stock options were exercised by directors and/or officers of our company.

Lexaria entered into an Asset Purchase Agreement dated August 12, 2011, with Brinx Resources Ltd. to acquire 100% of its 10% gross working interest in the oil and gas interests located in Mississippi, USA. By acquiring the additional 10% working interest in Belmont Lake oil and gas field, Lexaria then had 42% working interest in Belmont Lake and retains its existing 60% working interest in the exploration wells on approximately 130,000 acres surrounding Belmont Lake in all directions. Lexaria has agreed to pay a total of US $400,000 and issue 800,000 common shares of the Company at $0.30 per share. A total of $430,000 in cash was paid.

On December 1, 2011, the Company closed a private placement offering of convertible debentures in the aggregate amount of $200,000. The convertible debentures mature on December 1, 2012, subject to forced conversion as set out in the convertible debenture certificate. The convertible debentures pay an interest rate of 12% per annum (on a simple basis) and are convertible at $0.35 per unit. Each unit is comprised of one share of our common share and one share purchase warrant. Each warrant entitles the holder thereof to purchase one share at a price of $0.40 per share up to the earlier of the maturity date of the convertible debenture or one year from conversion of the convertible debenture. We also entered into a general security agreement with the subscribers, whereby the obligations to repay the convertible debenture are secured by the Company’s working interest and production in and only in two oil wells located at Belmont Lake, Mississippi, with carrying value of $1M as of July 31, 2012. Two directors of the Company, David DeMartini and CAB Financial Services Ltd, solely owned by a director, subscribed to the convertible debentures with the amount of $200,000.

On March 30, 2012, the Company entered into a loan agreement with Christopher Bunka, our President, Chief Executive Officer and Director, (“Lender”) for a non-secured promissory note in the amount of $50,000 (the “Promissory Note”). The Lender agreed to purchase a non-secured 12% interest bearing Promissory Note of our company subject to and upon the terms and conditions of the agreement. The Promissory Note has a month to month term.

On April 30, 2012, at 11 am PDT, Lexaria Corp. (“Lexaria” or the “Company”) held its Annual and Special Meeting of Shareholders for the following purposes:

1.	To elect Chris Bunka, Bal Bhullar, and David DeMartini, Nicolas Baxter, and Dustin Elford as directors of the Company for the ensuing year and until their successors are elected;
2.	To ratify MNP LLP our independent registered public accounting firm for the fiscal year ending October 31, 2012 and to allow directors to set the remuneration; and
3.	To transact such other business as may properly come before the Meeting or any adjournment of the postponement thereof.

All proposals were approved by the shareholders. The proposals are described in detail in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on March 26, 2012.

On July 20, 2012, the Company entered into a loan agreement with Christopher Bunka, our President, Chief Executive Officer and Director, (“Lender”) for a non-secured promissory note in the amount of $50,000 (the “Promissory Note”). The Company promises to pay to Lender at the end of every month $4,166 to be applied against the principal amount outstanding from the date of the Loan Agreement for twelve months, plus interest at the rate of 12% per annum on the outstanding balance.

Our Current Business

We are an oil and gas company engaged in the exploration for oil and natural gas in Canada and the United States. We are currently generating revenues from our business operations in Mississippi.

We have acquired working interests in various oil and gas properties in Mississippi USA. All of our current oil and gas assets are located in Wilkinson and Amite counties, Mississippi, where we have between 42% gross working interest and 60% gross working interests in producing oil and/or gas wells and in exploration wells yet to be drilled. Our Belmont Lake oil field discovered in December 2006 is located within the Palmetto Point area of Wilkinson county, Mississippi.

Our company’s business plan is to focus on development of the Belmont Lake oil field, in which we have working interests, in order to maximize cash flow and use excess cash flow to pay debt and conduct additional development well drilling. Eventually our company will seek a balance between exploration, development and exploitation drilling. To achieve sustainable and profitable growth, our company intends to control the timing and costs of our projects wherever possible. We are not currently the operator of any of our properties and will consider becoming the operator only when our financial conditions have improved sufficiently.

During the past fiscal year we experienced the following significant corporate developments:

• On November 22, 2012 the Company entered into an Amendment to existing debt agreements totaling $930,000, with maturity dates of month to month and December 1, 2012 with CAB Financial Services Ltd., David DeMartini, Emerald Atlantic LLC, and other debt holders of the Company, whereby the various lenders have agreed to modify various terms of the earlier agreements and provide for a final debt repayment schedule ending in December 2013. The Company will repay the debt in twelve equal monthly principal payment, plus interest on the monthly declining balances. The interest rates of the amendment debt are the same as the existing debt agreement.
• On April 17, 2013, the Company had its Annual General Meeting. Certain motions were approved and adopted:
  Re-Election of Chris Bunka, Bal Bhullar, David DeMartini, Nicholas Baxter and Dustin Elford as directors, approved with the following:

Nominee	For	Against	Withheld
Chris Bunka	3,684,042	NIL	4,675
Bal Bhullar	3,684,542	NIL	4,175
David DeMartini	3,684,542	NIL	4,175
Nicolas Baxter	3,687,042	NIL	1,675
Dustin Elford	3,687,042	NIL	1,675

Ratification of MNP LLP our independent registered public accounting firm for the fiscal year ending October 31, 2013 and to allow directors to set the remuneration, approved with 4,582,651 votes for, 219,509 votes against and 1 vote absent.
• On June 18, 2013, based on this original 2010 Stock Option Plan, the Company has granted additional 500,000 stock options to Directors and Officers, and a consultant of the Company. The exercise price of the stock options were US$0.10, vested immediately and expire on June 18, 2018.

Our company plans to continue our current business of acquiring interests in potentially high-impact oil and gas property interests that offer a high probability of being able to drill without significant time delays. We will endeavor to try to choose North American properties where, if drilling is successful, the wells could be quickly connected to infrastructure and thus, with success, brought into production and able to generate cash flow as quickly as possible.

Our business plan does not anticipate that we will hire a large number of employees or that we will require extensive office space. Our company has, to date, and plans to continue to acquire most of the industry and geological expertise we require through third party contractual relationships with consulting experts and with operating companies which will act as operators of our company’s various interests. Although this exposes our company to certain risks on behalf of those operators, it also allows our company to participate in the often unique experience and knowledge that local persons have related to certain properties. This strategy allows our company to participate in a wider variety of oil and gas opportunities than if all of our geological expertise were in-house and confined to a single geographical area. From a business operations perspective, this strategy also enables our company to minimize our ongoing fixed in-house costs for geological or geophysical analytical expenses while still allowing it to contract for that expertise when and as needed. This business strategy has been successful during a time of declining oil and gas prices, when many companies with high internal overheads and cost structures due to large numbers of highly expensive in-house professionals cannot be sustained due to declining revenues. Our company will hire third-party consulting geophysicists and geologists on an as-needed basis to evaluate oil and gas properties that may be of interest, and to reinforce and double-check the technical work and abilities of its third-party operators. This provides our company with the required expertise we need, when its needed, whilst avoiding high fixed long-term costs.

Our company relies on the business experience of our existing management, on the technical abilities of consulting experts, and on the technical and operational abilities of its operating partner companies to evaluate business opportunities.

Competition

We are in the business of acquisition and exploration of oil and gas properties. The petroleum industry is competitive in all its phases. We compete with numerous other participants in the search for and the acquisition of oil and natural gas properties, and in the marketing of oil and natural gas. Our competitors include oil and natural gas companies that have substantially greater financial resources, staff and facilities than ours. Our ability to obtain or increase reserves in the future will depend not only on our ability to explore and develop our present properties, but also on our ability to select and acquire suitable producing properties or prospects for exploratory drilling. Competitive factors in the distribution and marketing of oil and natural gas include price and methods and reliability of delivery.

Compliance with Government Regulation

The exploration and development of oil and gas properties is subject to various United States federal, state and local and foreign governmental regulations. We may from time to time, be required to obtain licenses and permits from various governmental authorities in regards to the exploration of our property interests.

Employees

We primarily use the services of sub-contractors and consultants for manual labour exploration work and drilling on our properties. Our Director, Mr. David DeMartini is our technical advisor.

On May 12, 2009, we entered into a six month consulting agreement with BKB Management Ltd., a British Columbia company for a consideration of CAD$4,500 per month plus applicable taxes. Effective January 1, 2011, the consideration was increased to CAD$5,500 plus applicable taxes. BKB Management is a consulting company controlled by our chief financial officer.

On November 27, 2008, we entered into a consulting agreement with CAB Financial Services Ltd., a British Columbia company. The consulting services provided by CAB Financial are on a continuing basis for a consideration of CAD$8,000 per month plus applicable taxes. CAB Financial is a consulting company controlled by our president.

On August 5, 2010 the Company entered into a three month consulting agreement with Tom Ihrke to act as the Company’s Senior Vice President, Business Development for consideration of US$3,125 per month and 150,000 stock options granted at $0.20. On December 2, 2010, the Company entered into a month to month management agreement with Tom Ihrke, where by Mr. Ihrke will continue to act as the Senior Vice-President Business Development for the Company. The Company paid a monthly consulting fee of $3,125. Effective January 15, 2012, the consulting agreement has been decreased to $10 a month.

Research and Development

We have incurred $Nil in research and development expenditures over the last two fiscal years.

Item 1A. Risk Factors

Our business operations are subject to a number of risks and uncertainties, including, but not limited to those set forth below:

We have a limited operating history and as a result there is no assurance we can operate on a profitable basis.

We have a limited operating history. Our company's operations will be subject to all the uncertainties arising from the absence of a significant operating history. Potential investors should be aware of the difficulties normally encountered by resource exploration companies and the high rate of failure of such enterprises. The likelihood of success must be considered in light of the problems, expenses, difficulties, complications and delays encountered in connection with the exploration of the properties that we plan to undertake. These potential problems include, but are not limited to, unanticipated problems relating to exploration, and additional costs and expenses that may exceed current estimates. The expenditures to be made by us in the exploration of our properties may not result in the discovery of reserves. Problems such as unusual or unexpected formations of rock or land and other conditions are involved in resource exploration and often result in unsuccessful exploration efforts. If the results of our exploration do not reveal viable commercial reserves, we may decide to abandon our claims and acquire new claims for new exploration or cease operations. The acquisition of additional claims will be dependent upon us possessing capital resources at the time in order to purchase such claims. If no funding is available, we may be forced to abandon our operations. There can be no assurance that we will be able to operate on a profitable basis.

If we do not obtain additional financing, our business will fail and our investors could lose their investment.

We had cash in the amount of $65,542 and working capital deficiency of $1,268,937 as of our year ended October 31, 2013. Any direct acquisition of a claim under lease or option is subject to our ability to obtain the financing necessary for us to fund and carry out exploration programs on potential properties. The requirements are substantial. Obtaining additional financing would be subject to a number of factors, including market prices for resources, investor acceptance of our properties and investor sentiment. These factors may negatively affect the timing, amount, terms or conditions of any additional financing available to us. The most likely source of future funds presently available to us is through the sale of equity capital and loans. Any sale of share capital will result in dilution to existing shareholders.

Because there is no assurance that we will generate material revenues, we face a high risk of business failure.

For the fiscal year 2013, we have earned revenues of $1,097,455. We currently have only modest oil or gas reserves that are deemed proved, probable or possible pursuant to American standards of disclosure for oil and gas activities. All of our existing wells are in Mississippi, USA.

There can be no assurance that our current or future drilling activities will be successful, and we cannot be sure that our overall drilling success rate or our production operations within a particular area will ever come to fruition, and if they do, will not decline over time. We may not recover all or any portion of our capital investment in the wells or the underlying leaseholds. Unsuccessful drilling activities would have a material adverse effect upon our results of operations and financial condition. The cost of drilling, completing and operating wells is often uncertain, and a number of factors can delay or prevent drilling operations, including: (i) unexpected drilling conditions; (ii) pressure or irregularities in geological formation; (iii) equipment failures or accidents; (iv) adverse weather conditions; and (v) shortages or delays in the availability of drilling rigs and the delivery of equipment.

In addition, our exploration and development plans may be curtailed, delayed or cancelled as a result of lack of adequate capital and other factors, such as weather, compliance with governmental regulations, current and forecasted prices for oil and changes in the estimates of costs to complete the projects. We will continue to gather information about our exploration projects, and it is possible that additional information may cause our company to alter our schedule or determine that a project should not be pursued at all. You should understand that our plans regarding our projects are subject to change.

We recognize that if we are unable to generate significant revenues from our activities, we will not be able to earn profits or continue operations. We cannot guarantee that we will be successful in raising capital to fund these operating losses or generate revenues in the future. We can provide investors with no assurance that we will generate any operating revenues or ever achieve profitable operations. If we are unsuccessful in addressing these risks, our business will most likely fail and our investors could lose their investment.

The oil and natural gas industry is highly competitive and there is no assurance that we will be successful in acquiring leases.

The oil and natural gas industry is intensely competitive. Although we do not compete with other oil and gas companies for the sale of any oil and gas that we may produce, as there is sufficient demand in the world market for these products, we compete with numerous individuals and companies, including many major oil and natural gas companies which have substantially greater technical, financial and operational resources and staff. Accordingly, there is a high degree of competition for desirable oil and natural gas leases, suitable properties for drilling operations and necessary drilling equipment, as well as for access to funds. We cannot predict if the necessary funds can be raised or that any projected work will be completed.

There can be no assurance that we will discover oil or natural gas in any commercial quantity on our properties.

Exploration for economic reserves of oil and natural gas is subject to a number of risks. There is competition for the acquisition of available oil and natural gas properties. Few properties that are explored are ultimately developed into producing oil and/or natural gas wells. If we cannot discover oil or natural gas in any commercial quantity thereon, our business will fail.

Even if we acquire an oil and natural gas exploration property and establish that it contains oil or natural gas in commercially exploitable quantities, the potential profitability of oil and natural gas ventures depends upon factors beyond the control of our company.

The potential profitability of oil and natural gas properties is dependent upon many factors beyond our control. For instance, world prices and markets for oil and natural gas are unpredictable, highly volatile, potentially subject to governmental fixing, pegging, controls or any combination of these and other factors, and respond to changes in domestic, international, political, social and economic environments. Additionally, due to worldwide economic uncertainty, the availability and cost of funds for production and other expenses have become increasingly difficult, if not impossible, to project. In addition, adverse weather conditions can hinder drilling operations. These changes and events may materially affect our future financial performance. These factors cannot be accurately predicted and the combination of these factors may result in our company not receiving an adequate return on invested capital.

In addition, a productive well may become uneconomic in the event water or other deleterious substances are encountered which impair or prevent the production of oil and/or natural gas from the well. Production from any well may be unmarketable if it is impregnated with water or other deleterious substances. Also, the marketability of oil and natural gas which may be acquired or discovered will be affected by numerous related factors, including the proximity and capacity of oil and natural gas pipelines and processing equipment, market fluctuations of prices, taxes, royalties, land tenure, allowable production and environmental protection, all of which could result in greater expenses than revenue generated by the well.

The marketability of natural resources will be affected by numerous factors beyond our control which may result in us not receiving an adequate return on invested capital to be profitable or viable.

The marketability of natural resources which may be acquired or discovered by us will be affected by numerous factors beyond our control. These factors include market fluctuations in oil and natural gas pricing and demand, the proximity and capacity of natural resource markets and processing equipment, governmental regulations, land tenure, land use, regulation concerning the importing and exporting of oil and natural gas and environmental protection regulations. The exact effect of these factors cannot be accurately predicted, but the combination of these factors may result in us not receiving an adequate return on invested capital to be profitable or viable.

Oil and natural gas operations are subject to comprehensive regulation which may cause substantial delays or require capital outlays in excess of those anticipated causing an adverse effect on our company.

Oil and natural gas operations are subject to federal, state, and local laws relating to the protection of the environment, including laws regulating removal of natural resources from the ground and the discharge of materials into the environment. Oil and natural gas operations are also subject to federal, state, and local laws and regulations which seek to maintain health and safety standards by regulating the design and use of drilling methods and equipment. Various permits from government bodies are required for drilling operations to be conducted; no assurance can be given that standards imposed by federal, provincial, or local authorities may be changed and any such changes may have material adverse effects on our activities. Moreover, compliance with such laws may cause substantial delays or require capital outlays in excess of those anticipated, thus causing an adverse effect on us. Additionally, we may be subject to liability for pollution or other environmental damages. To date, we have not been required to spend any material amount on compliance with environmental regulations. However, we may be required to do so in the future and this may affect our ability to expand or maintain our operations.

Exploration and production activities are subject to certain environmental regulations which may prevent or delay the commencement or continuation of our operations.

In general, our exploration and production activities are subject to certain federal, state and local laws and regulations relating to environmental quality and pollution control. Such laws and regulations increase the costs of these activities and may prevent or delay the commencement or continuation of a given operation. Specifically, we may be subject to legislation regarding emissions into the environment, water discharges and storage and disposition of hazardous wastes. In addition, legislation has been enacted which requires well and facility sites to be abandoned and reclaimed to the satisfaction of state authorities. However, such laws and regulations are frequently changed and we are unable to predict the ultimate cost of compliance. Generally, environmental requirements do not appear to affect us any differently or to any greater or lesser extent than other companies in the industry.

Exploratory drilling involves many risks and we may become liable for pollution or other liabilities which may have an adverse effect on our financial position.

Drilling operations generally involve a high degree of risk. Hazards such as unusual or unexpected geological formations, power outages, labor disruptions, blow-outs, sour natural gas leakage, fire, inability to obtain suitable or adequate machinery, equipment or labor, and other risks are involved. We may become subject to liability for pollution or hazards against which it cannot adequately insure or which it may elect not to insure. Incurring any such liability may have a material adverse effect on our financial position and operations.

Any change to government regulation/administrative practices may have a negative impact on our ability to operate and our profitability.

The business of oil and natural gas exploration and development is subject to substantial regulation under various countries laws relating to the exploration for, and the development, upgrading, marketing, pricing, taxation, and transportation of oil and natural gas and related products and other matters. Amendments to current laws and regulations governing operations and activities of oil and natural gas exploration and development operations could have a material adverse impact on our business. In addition, there can be no assurance that income tax laws, royalty regulations and government incentive programs related to the properties subject to our farm-out agreements and the oil and natural gas industry generally will not be changed in a manner which may adversely affect our progress and cause delays, inability to explore and develop or abandonment of these interests.

Permits, leases, licenses, and approvals are required from a variety of regulatory authorities at various stages of exploration and development. There can be no assurance that the various government permits, leases, licenses and approvals sought will be granted in respect of our activities or, if granted, will not be cancelled or will be renewed upon expiry. There is no assurance that such permits, leases, licenses, and approvals will not contain terms and provisions which may adversely affect our exploration and development activities.

If we are unable to hire and retain key personnel, we may not be able to implement our business plan.

Our success is largely dependent on our ability to hire highly qualified personnel. This is particularly true in highly technical businesses such as resource exploration. These individuals are in high demand and we may not be able to attract the personnel we need. In addition, we may not be able to afford the high salaries and fees demanded by qualified personnel, or may lose such employees after they are hired. Failure to hire key personnel when needed, or on acceptable terms, would have a significant negative effect on our business.

We are not the "operator" of any of our oil and gas exploration interests, and so we are exposed to the risks of our third-party operators.

We rely on the expertise of our contracted third-party oil and gas exploration and development operators and third-party consultants for their judgment, experience and advice. We can give no assurance that these third party operators or consultants will always act in our best interests, and we are exposed as a third party to their operations and actions and advice in those properties and activities in which we are contractually bound.

Our management has limited experience and training in the oil and gas industry and could make uninformed decisions that negatively impact our oil and gas operations.

Because our management has limited experience and training in the oil and gas industry, we may not have sufficient expertise to make informed best practices decisions regarding oil and gas operations. We do not have a petroleum engineer on staff to provide internal oversight. It is possible that, due to our limited knowledge, we might elect to complete a well and incur financial burdens that a more experienced petroleum team might elect not to complete. Our ability to internally evaluate oil and gas operations and opportunities could be less thorough than that of a more highly trained management team.

Our independent certified public accounting firm, in the notes to the audited financial statements for the year ended October 31, 2013 states that there is a substantial doubt that we will be able to continue as a going concern.

As at October 31, 2013, we have experienced significant losses since inception. Failure to arrange adequate financing on acceptable terms and to achieve profitability would have an adverse effect on our financial position, results of operations, cash flows and prospects. Accordingly, there is substantial doubt that we will be able to continue as a going concern.

Risks Associated with Our Common Stock

Trading on the OTC Bulletin Board may be volatile and sporadic, which could depress the market price of our common stock and make it difficult for our stockholders to resell their shares.

Our common stock is quoted on the OTC Bulletin Board service of the Financial Industry Regulatory Authority. Trading in stock quoted on the OTC Bulletin Board is often thin and characterized by wide fluctuations in trading prices, due to many factors that may have little to do with our operations or business prospects. This volatility could depress the market price of our common stock for reasons unrelated to operating performance. Moreover, the OTC Bulletin Board is not a stock exchange, and trading of securities on the OTC Bulletin Board is often more sporadic than the trading of securities listed on a quotation system like Nasdaq or a stock exchange like Amex. Accordingly, shareholders may have difficulty reselling any of the shares.

Penny stock rules will limit the ability of our stockholders to sell their stock.

The Securities and Exchange Commission has adopted regulations which generally define “penny stock” to be any equity security that has a market price (as defined) less than $5.00 per share or an exercise price of less than $5.00 per share, subject to certain exceptions. Our securities are covered by the penny stock rules, which impose additional sales practice requirements on broker-dealers who sell to persons other than established customers and “accredited investors”. The term “accredited investor” refers generally to institutions with assets in excess of $5,000,000 or individuals with a net worth in excess of $1,000,000 or annual income exceeding $200,000 or $300,000 jointly with their spouse. The penny stock rules require a broker-dealer, prior to a transaction in a penny stock not otherwise exempt from the rules, to deliver a standardized risk disclosure document in a form prepared by the Securities and Exchange Commission which provides information about penny stocks and the nature and level of risks in the penny stock market. The broker-dealer also must provide the customer with current bid and offer quotations for the penny stock, the compensation of the broker-dealer and its salesperson in the transaction and monthly account statements showing the market value of each penny stock held in the customer’s account. The bid and offer quotations, and the broker-dealer and salesperson compensation information, must be given to the customer orally or in writing prior to effecting the transaction and must be given to the customer in writing before or with the customer’s confirmation. In addition, the penny stock rules require that prior to a transaction in a penny stock not otherwise exempt from these rules, the broker-dealer must make a special written determination that the penny stock is a suitable investment for the purchaser and receive the purchaser’s written agreement to the transaction. These disclosure requirements may have the effect of reducing the level of trading activity in the secondary market for the stock that is subject to these penny stock rules. Consequently, these penny stock rules may affect the ability of broker-dealers to trade our securities. We believe that the penny stock rules discourage investor interest in and limit the marketability of our common stock.

The Financial Industry Regulatory Authority, or FINRA, has adopted sales practice requirements which may also limit a shareholder's ability to buy and sell our stock.

In addition to the "penny stock" rules described above, FINRA has adopted rules that require that in recommending an investment to a customer, a broker-dealer must have reasonable grounds for believing that the investment is suitable for that customer. Prior to recommending speculative low priced securities to their non-institutional customers, broker-dealers must make reasonable efforts to obtain information about the customer's financial status, tax status, investment objectives and other information. Under interpretations of these rules, FINRA believes that there is a high probability that speculative low priced securities will not be suitable for at least some customers. FINRA requirements make it more difficult for broker-dealers to recommend that their customers buy our common stock, which may limit your ability to buy and sell our stock and have an adverse effect on the market for its shares.

Other Risks

Because majority of our officers and directors are located in non-U.S. jurisdictions, you may have no effective recourse against them for misconduct and you may not be able to enforce judgment and civil liabilities against our officers, directors, experts and agents.

With the exception of one officer, all of our directors and officers are nationals and/or residents of countries other than the United States and all or a substantial portion of their assets are located outside of the United States. As a result, it may be difficult for investors to enforce within the United States any judgments obtained against our officers or directors, including judgments predicated upon the civil liability provisions of the securities laws of the United States or any state thereof.

Trends, Risks and Uncertainties

We have sought to identify what we believe to be the most significant risks to our business, but we cannot predict whether, or to what extent, any of such risks may be realized nor can we guarantee that we have identified all possible risks that might arise. Investors should carefully consider all of such risk factors before making an investment decision with respect to our common stock.

Item 1B. Unresolved Staff Comments

As a “smaller reporting company”, we are not required to provide the information required by this Item.

Item 2. Properties

Executive Offices

The address of our principal executive office is Suite 950, 1130 West Pender Street, Vancouver, British Columbia, V6E 4A4, for which we share 250 square feet of office space, which includes one executive office for a monthly rental of CAD$604. Our telephone number is (604) 602-1675. We have an additional office located in Kelowna, British Columbia, where we have 1,200 square feet of office space, which includes several offices for a monthly rental of CAD$1,652. Our current locations provide adequate office space for our purposes at this stage of our development.

Resource Properties

As at October 31, 2013, our company currently owns a 42% gross working interest in the PPF12-1 and PPF12-3A wells; a 50% gross working interest in wells PP F-12-4 and PP F-12-5 all located in Mississippi under various agreements with Griffin and Griffin Exploration, L.L.C. The most significant of these wells are the producing oil wells PP F-12-1, PP F-12-3A, PP F-12-4, and PP F-12-5 located within the Belmont Lake oil field which is itself located in the Palmetto Point region. The Belmont Lake oil field is onshore, as are all of our company’s wells, but located in a flood plain of the Mississippi River which forces seasonal constraints on certain field activities. Other than the four oil wells noted immediately above, our company has no other producing wells. Additional details of these interests are noted below and not all of these wells were successful.

Subsequent to October 31, 2013, the working interest in the the 38 wells to be drilled has expired, and the Company has participated in the drilling of the PP F-12-7 well with a working interest of 13.3% .

Mississippi: Palmetto Point Project

On December 21, 2005, our company agreed to purchase a 20% gross working and revenue interest in a 10 well drilling program in Palmetto Point, Mississippi owned by Griffin & Griffin Exploration for cash payments of $700,000, comprised of $220,000 paid upon entering the Agreement and the remaining balance of $480,000 paid on January 17, 2006. Our company applied the full cost method to account for our oil and gas properties and as of July 31, 2009, seven wells were found to be proved wells, and three wells were found impaired. One of the wells was impaired due to uneconomic life, and the other two wells were abandoned due to no apparent gas or oil shows present. The costs of impaired properties were added to the capitalized cost in determination of the depletion expense. Palmetto Point is approximately 150 miles southwest of Jackson, Mississippi and approximately 50 miles north/northwest of Baton Rouge, Louisiana. It is 30 miles west of Woodville, Mississippi off of State Highway 33 and is entirely within Wilkinson County.

There were no further costs to our company in earning our interest in the 10 well drilling program, including well development costs or pipeline connections. Griffin has agreed that the leases held by it covering any mineral estate underlying the applicable well site acreage shall not provide for more than twenty-five (25%) percent royalty and overriding royalty interest. Our company’s net interest in any oil and gas produced is calculated by subtracting the applicable royalties from its 20% gross interest. Consequently, its original net working interest in the drilling program was a minimum fifteen (15%) percent net working interest. Griffin conducted the Drilling Program in its capacity as Operator and receives a 15% carried interest.

One of these original 10 wells was the PP F-12-1 well, which was the discovery well of a field now known as the Belmont Lake field. All of these original 10 wells were targeting the Frio geological formation of the Cenozoic era and Oligocene series, which is characterized in this region as a generally shallow, sandstone-rich layer. In this area of Mississippi, the Frio geologic formation is generally found between 2,000 and 4,500 foot depth from surface.

On September 22, 2006, our company elected to participate in an additional two-well program in Palmetto Point, Mississippi owned by Griffin by paying an additional $140,000 (paid). Our company earned the same 20% gross interest in the two (2) additional wells (12 wells total and all drilled) and subsequently increased our gross interest to 32% in these 12 wells, or a net revenue interest of 20.802815% . As of July 31, 2009, the two wells were found to be proved wells.

On June 23, 2007, our company acquired an assignment of a 10% gross working interest in the Palmetto Point wells described above from a third party for $520,000 which was payable by a secured loan. The $520,000 loan was valued at a Net Present Value of $501,922, which is the capitalized amount. Our company calculated the net present value of the secured loan payable by applying 8% interest rate, which was based on a T-bill rate of 4.28% plus a risk premium.

On October 4, 2007, our company elected to participate in the drilling of the PP F-12-3 well in Palmetto Point, Mississippi which was conducted by Griffin. This well was the second well drilled in the Belmont Lake oil field. Our company had a 30% gross working interest and paid $266,348. On July 31, 2008, our company accrued and paid an additional cost of $127,707 for the workovers of wells PP F-12 and PP F-12-3. PP F-12 has had intermittent production from October 2007, and PP F-12-3 has had intermittent production from November 2007.

On April 3, 2009, our company entered into an Asset Purchase Agreement with Delta Oil & Gas, Inc., and The Stallion Group to acquire additional interests in its existing core producing Mississippi oil and gas properties. Our company paid $40,073 to acquire an additional two percent (2%) working interest in the proven Belmont Lake oil and gas field and an additional 10% working interest in potential nearby exploration wells. Total working interest for Belmont Lake as of July 31, 2009 is 32%; and total working interest in the exploration wells on approximately 140,000 acres surrounding Belmont Lake in all directions as of July 31, 2010, is 60%.

Our company had a short-lived opportunity to acquire additional fractional interests in the upcoming Belmont Lake 12-4 well which was expected to be a horizontal well. An unrelated third party did not participate in its right to participate in the 12-4 well, and therefore a share of its interest (a “non consent” interest) was made available to the other participating parties including our company. On August 28, 2009 and effective on September 1, 2009, to take best advantage of this opportunity, our company entered into four separate assignment agreements, three of which were with people or companies with related management. Our company received from these four parties proceeds of $371,609 to fund additional interests in this well. As a result, our company has a 25.84% perpetual gross interest in the well (18.0% net revenue interest); as well as a 5.2% net revenue interest in the non-consent interest. The non-consent interest remains valid until such time as the well produces 500% of all costs and expenses back to the participants in the form of revenue, at which time the non-consent interest ends. Enertopia, a company with related management, had acquired from our company a 6.16% perpetual gross interest in the 12-4 well; David DeMartini, a director of our company, had acquired from our company a 5% gross interest in the non-consent interest in the 12-4 well; and 0743608 BC Ltd. a company owned by the President of our company, had acquired from our companyour company a 11.60% gross interest in the non-consent interest in the 12-4 well.

On May 31, 2010, our company signed a Settlement Agreement with Enertopia Corp., whereby our company issued 499,893 units at $0.12 per unit. Each unit consists of one restricted share of our common stock and one share purchase warrant exercisable at $0.20 per share for a period of two years in exchange for the working interest initially assigned on August 28, 2009.

On June 16, 2010, our company signed a Settlement Agreement with a third party, who had originally participated in the August 28, 2009, opportunity in the non-consent interest for Belmont Lake 12-4. Our company returned $144,063 to the third party and cancelled its participation.

On July 29, 2010, our company had agreed with its Operators at Belmont Lake not to proceed to drill a horizontal 12-4 well. Rather, two of the three proposed vertical wells 12-2, 12-4, or 12-5 were proposed to be drilled in August 2010. To take best advantage of this opportunity, our company cancelled all previous agreements relating to August 28, 2009 with respect to Belmont Lake horizontal well 12-4 and entered into three separate assignment agreements, of which all three were with people or companies with related management. Our company received total proceeds of $324,677 to fund additional interests in these wells. As a result, our company has a 32% perpetual gross interest in the wells (24.0% net revenue interest); as well as a 8% gross interest (6% net revenue interest) in the non-consent interest. The non-consent interest remains valid until such time as the well produces 500% of all costs and expenses back to the participants in the form of revenue, at which time the non-consent interest ends. Emerald Atlantic LLC, a company owned by a director of our company, has acquired from our company a 8.74% gross interest in the non-consent interest in two of the three vertical wells; and 0743608 BC Ltd. a company owned by our president, has acquired from our company a 20.79% gross interest in the non-consent interest in two of the three vertical wells; an advisor to our company has acquired from our company 2.46% gross interest in the non-consent interest in two of the three vertical wells.

On September 13, 2010, Lexaria Corp. (the “Company”) entered into three separate assignment agreements, replacing the July 29, 2010 agreements with Kelowna Resources Group formerly known as 0743608 BC Limited, solely owned by a Director/Officer of the Company; Emerald Atlantic LLC, solely owned by a Director of the Company, and the Senior VP Business Development. (the “Assignees”), whereby the Assignees have paid a fee of US$408,116 to earn a 24% share of the Company’s gross non-perpetual 32% interest in the three oil wells being drilled in Wilkinson County, Mississippi. As a result of the three assignment agreements, Lexaria receives at no cost to the company, a carried interest of 8% in these same rights and benefits. The Company assigns, transfers and sets over to the Assignees, all proportionate rights, interest and benefits in the Assigned Non Perpetual Interest held by or granted to the Assignor in and to the Participation Agreement between the Company and Griffin but limited to a gross 500% revenue payout based on the total amount paid under the Initial Consideration and the Subsequent Consideration after which all rights, interests and benefits cease.

Total working interest for Belmont Lake as of October 31, 2013 is 42%, with the exception of a 50% interest in wells PP F-12-4 and PP F-12-5; and total working interest in the exploration wells on approximately 140,000 acres surrounding Belmont Lake in all directions as at October 31, 2013, is 60%.

During the year ended October 31, 2013, there were additional well interest changes or workovers pending of well PP F12-4 in the amount of $91,613 (2012: $378,967 for wells PP F-4, PP F-12, PP F12-3 and PP F29).

As of January 24, 2014, the status of the Palmetto Point, Mississippi wells is as follows:

Well Name	Spud/Start	Complete	Results	Depth	Status
PP F-12-1	Dec 18/06	Dec. 24/06	Frio Gas; 3 ft. Frio Oil, 26 ft.	4016	Producing
PP F-12-3	Oct/07	Oct/07	Frio Oil	3150	Producing
PP F-12-4	Aug/10	Oct/10	Frio Oil	3150	Temporary shut down
PP F-12-5	Sep 12/10	Nov 23/10	Frio Oil	3150	Producing
PP F-12-7	Nov 29/13		Frio Oil	3282	Awaiting Completion

Mississippi and Louisiana: Frio-Wilcox Project

After participating in the Palmetto Point project, we entered into a separate agreement that expanded both our percentage interest in future wells, and also expanded the geographical area on which those wells could be drilled.

On August 3, 2006, we entered into a Phase II agreement with Griffin, to acquire a working interest in multiple zones of potential oil and gas production in Mississippi and Louisiana. This agreement contemplates up to a 50 well drill program, which are exclusive to the participants, for Wilcox and Frio wells, at our company’s option, within the defined area of mutual interest (“AMI”). From these 50 prospects, Griffin and the participants will select all drill locations with the expectation that the wells will be drilled to depths sufficient to test prospectively for producible hydrocarbons from the top of the Frio Formation to the bottom of the Wilcox Formation.

These 50 wells are in addition to all wells drilled under the original 10-well agreement and also in addition to any development wells to be drilled at the Belmont Lake oil field discovery. The AMI originally included over 200,000 gross acres located non-contiguously between Southwest Mississippi and North East Louisiana which include the approximately 32,000 acres of the Palmetto Point area but also include other areas.

Our company had contracted to assume a 40% gross interest in this AMI, meaning we were obligated to pay 40% of costs related to licensing, permitting, drilling, completion and all other related costs. Upon payment of 40% of the costs, we earned a net 32% of all production from all producible zones to the base of the Frio formation (Frio Targets); and, 30% of all production to the base of the Wilcox formation (Wilcox Targets). All working interests are to be registered in the name of our company. This 50-well AMI was intended to be drilled in several stages.

Our company’s pro rata share of the first stage had a total cost $1.6 million. As of October 31 2007, we had placed $1,600,000 in trust to completely fund this initial commitment. During the drill program, an unrelated third party participant elected not to continue their participation in the program, and we assumed our pro-rata portion of their 10% gross working interest as our own, at no additional cost, bringing our total gross working interest in the seven (7) wells and their leases (Initial AMI Drilling Program), to 45%.

On June 21, 2007, we acquired an additional 10% from a third party for all rights, title and benefits excluding the seven wells drilled under the AMI Agreement between August 3, 2006 and June 19, 2007, specifically wells CMR-USA-39-14, Dixon #1, Faust #1 TEC F-1, CMR/BR F-14, RB F-1 Red Bug #2, BR F-33, and Randall #1 F-4, and any offset wells that could be drilled to any of these specified wells (Subsequent AMI Drilling Program). This brought our interest in the remaining 43 wells to 50% and we drilled 5 wells under this arrangement.

On April 3, 2009, we acquired an additional 10% working interest in the 38 exploration wells remaining to be drilled, bringing its total gross working interest to 60% in the 38 wells that remain to be drilled of this original 50-well option in over 140,000 acres surrounding Belmont Lake in all directions.

On December 16, 2010, we entered into an assignment agreement with Emerald Atlantic LLC, a company solely owned by a director of our company, whereby Emerald Atlantic has paid a fee of $30,076 to earn 18% of a 4.423% share of our company’s net revenue interest after field operating expenses for a well USA 1-27 that was subsequently drilled in Wilkinson County and found to have no economic oil or gas reserves.

As of October 31, 2013, the AMI had expired as scheduled, and all related oil and gas acquisition and exploration costs have been written off.

Initial AMI Drilling Program

Our company’s pro rate share of the first stage had a total cost $1.6 million. As of October 31 2007, we had placed $1,600,000 in trust to completely fund this initial commitment. During the drill program, an unrelated third party participant elected not to continue their participation in the program, and we assumed our pro-rata portion of their 10% gross working interest as our own, at no additional cost, bringing our total gross working interest in these seven (7) drilled wells and their leases, to 45%.

We successfully drilled and completed seven (7) wells under this drilling program. Certain wells were placed into production.

Details of the drill program are outlined below:

In December 2006, the first well CMR-US 39-14 was found to have sufficient hydrocarbons to become economic. USA 1-37 and BR F-33 had started intermittent production from November 2007. Our company applied the full cost method to account for its oil and gas properties.

As at January 31, 2007, we abandoned Dixon #1 due to no economic hydrocarbons being present and $162,420 of drilling costs was added to the capitalized costs. The Dixon #1 was the only Wilcox well our company has drilled to date. Every other well we have participated in located in Mississippi and Louisiana is a Frio well. Slightly deeper than the Frio targets, but also of the Cenozoic era, the Wilcox geologic formation is of the Eocene series, generally found at depths of less than 8,000 feet.

On June 2, 2007, we abandoned Randall #1 and $107,672 drilling costs were added to the capitalized costs in determination of depletion expense.

During August to October 2007, three additional wells, PP F-90, PP F-100, and PP F-111 were drilled in the area. These Frio wells were abandoned due to modest gas shows and a total of $306,562 drilling costs was added to the capitalized costs in determination of depletion expense.

During December 2007, two additional wells, PP F-6A and PP F-83, were drilled and were plugged and abandoned due to non-economic gas shows. A total of $247,086 drilling costs were added to the capitalized costs in determination of depletion expense.

During 2013 the following wells were plugged and abdoned:

• BFR-33
• US-39-14
• USA 1-37
• PPF-6B
• PPF-118
• PPF-42
• PPF-36
• PPF-39
• PPF-40
• PPF-52A

Subsequent AMI Drilling Program

Five additional wells were drilled under the 50-well AMI. Each of these wells encountered non commercial quantities of hydrocarbons and were plugged and abandoned. Effective October 31, 2013, the AMI has expired and all acquisition and exploration costs have been written off.

Significant Acquisitions and Dispositions

None to Report.

Production and Prices

The following table sets forth information regarding net production of oil and natural gas, and certain price and cost information for fiscal years ended October 31, 2013, 2012 and 2011.

	For the fiscal year ended October 31, 2013	For the fiscal year ended October 31, 2012	For the fiscal year ended October 31, 2011
Production Data:
Natural gas (Mcf)	-	-	-
Oil (Bbls)	15,876	22,527	11,506
Average Prices:
Natural gas (per Mcf)	N/A	$3.19	$4.20
Oil (per Bbl)	$106.22	$93.47	$108.74
Production Costs:
Natural gas (per Mcf)	$Nil	$Nil	$Nil
Oil (per Bbl)	$27.85	$14.50	$17.21

Productive Wells

The following table summarizes information at October 31, 2013, relating to the productive wells in which we owned a working interest as of that date. Productive wells consist of producing wells and wells capable of production, but specifically exclude wells drilled and cased during the fiscal year that have yet to be tested for completion (e.g., all of the operated wells drilled by our company during this year have been cased in preparation for completion, but no operations have been initiated that would allow these wells to be productive). Gross wells are the total number of producing wells in which we have an interest, and net wells are the sum of our fractional working interests in the gross wells.

	Gross			Net
Location	Oil	Gas	Total	Oil	Gas	Total
Mississippi	4		4	0.27		0.27
Total	4		4	0.27		0.27

Unaudited Oil and Gas Reserve Quantities

The unaudited reserve estimates for Mississippi, as of October 31, 2013, were prepared by Veazey & Associates, an independent petroleum engineering firm.

The estimated proved reserves prepared by Veazey and Associates are summarized in the table below, in accordance with definitions and pricing requirements as prescribed by the Securities and Exchange Commission (the “SEC”). Prices paid for oil and natural gas vary widely depending upon the quality such as the Btu content of the natural gas, gravity of the oil, sulfur content and location of the production related to the refinery or pipelines.

There are many uncertainties inherent in estimating proved reserve quantities and in projecting future production rates and the timing of development expenditures. In addition, reserve estimates of new discoveries that have little production history are more imprecise than those of properties with more production history. Accordingly, these estimates are expected to change as future information becomes available.

Proved oil and gas reserves are the estimated quantities of crude oil and natural gas which geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions.

Proved developed oil and gas reserves are those reserves expected to be recovered through existing wells with existing equipment and operating methods.

Unaudited net quantities of proved developed and undeveloped reserves of crude oil and natural gas (all located within United States) are as follows:

The standardized measure of discounted future net cash flows relating to proved natural gas and oil reserves is as follows:

	USD$
Future cash inflows	15,301,046
Future production costs	(5,351,109	)
Future development costs	(1,131,516	)
Future net cash flows - undiscounted	8,818,421
10% annual discount for estimated timing of cash flows	(2,832,552	)
Standardized measure of discounted future net cash flows	5,985,869

Year-end price per Bbl of oil used in making standardized measure determinations as of October 31, 2013 was $106.22

Estimated Net Quantities of Natural Gas and Oil Reserves:

The following table sets forth our proved reserves, including changes, and proved developed reserves at the end of October 31, 2013.

			Natural	Crude Oil
	Crude Oil		Gas	Equivalents
	(MBbls)		(MMcf)	(MBbls)
Proved reserves:
Beginning of the year reserve	139.04			- 139.04
Adjustments of reserves in place	20.89			- 20.89
Productions	(15.88	)		- (15.88	)
End of year reserves	144.05			- 144.05
Proved developed reserves:
Beginning of the year reserve	56.14			- 56.14
Adjustments of reserves in place	34.02			- 34.02
Productions	(15.88	)		- (15.88	)
End of year reserves	74.28			- 74.28

Oil and Gas Acreage

The following table sets forth the undeveloped and developed acreage, by area, held by us as of October 31, 2013. Undeveloped acres are acres on which wells have not been drilled or completed to a point that would permit the production of commercial quantities of oil and gas, regardless of whether or not such acreage contains proved reserves. Developed acres are acres, which are spaced or assignable to productive wells. Gross acres are the total number of acres in which we have a working interest. Net acreage is obtained by multiplying gross acreage by our working interest percentage in the properties. The table does not include acreage in which we have a contractual right to acquire or to earn through drilling projects, or any other acreage for which we have not yet received leasehold assignments.

	Undeveloped Acres		Developed Acres
	Gross	Net	Gross	Net
Mississippi	220	132	1,160	316.72
Total	220	132	1,160	316.72

Drilling Activity

The following table sets forth our drilling activity during the years ended October 31, 2013, 2012 and 2011.

	2013		2012		2011
	Gross	Net	Gross	Net	Gross	Net
Exploratory wells:
Productive
Dry			1		1
Development wells:
Productive
Dry
Total wells			1		1

Item 3. Legal Proceedings

We know of no other material, existing or pending legal proceedings against our company, nor are we involved as a plaintiff in any other material proceeding or pending litigation. There are no other proceedings in which any of our directors, executive officers or affiliates, or any registered or beneficial stockholder, is an adverse party or has a material interest adverse to our interest.

SIGNATURES

Item 4. (Reserved and Removed)

PART II

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Our common shares are quoted on the Over-the-Counter Bulletin Board under the symbol “LXRP.” Our common shares are also quoted on the Canadian National Stock Exchange (CNSX) under the symbol “LXX”. The following quotations, obtained from Yahoo Finance, reflect the high and low bids for our common shares as quoted on the Over-the-Counter Bulletin Board based on inter-dealer prices, without retail mark-up, mark-down or commission and may not represent actual transactions.

The high and low bid prices of our common stock for the periods indicated below are as follows:

OTC Bulletin Board(1)
Quarter Ended	High	Low
October 31, 2011	$0.35	$0.26
January 31, 2012	$0.30	$0.23
April 30, 2012	$0.15	$0.11
July 31, 2012	$0.12	$0.05
October 31, 2012	$0.12	$0.01
January 31, 2013	$0.15	$0.01
April 30, 2013	$0.12	$0.04
July 31, 2013	$0.12	$0.045
October 31, 2013	$0.10	$0.035
(1) Over-the-counter market quotations reflect inter-dealer prices without retail mark- up, mark-down or commission, and may not represent actual transactions. (2) No high or low bid prices for our common stock were recorded for the period indicated.

As of January 21, 2014, there were 27 holders of record of our common stock. As of such date, 16,931,452 shares of common stock were issued and outstanding.

Our common shares are issued in registered form. Olympia Trust Company, 1003-750 West Pender Street, Vancouver, BC V6C 2T8 (Telephone: 604-484-8612; Facsimile: 604-484-8638) is the transfer agent for our common shares.

Nevada Agency and Trust Company, 50 West Liberty Street, Suite 880, Reno, Nevada 89501 (Telephone: 775.322.0626; Facsimile: 775.322.5623) is our registrar.

Dividend Policy

We have not paid any cash dividends on our common stock and have no present intention of paying any dividends on the shares of our common stock. Our current policy is to retain earnings, if any, for use in our operations and in the development of our business. Our future dividend policy will be determined from time to time by our board of directors.

Recent Sales of Unregistered Securities

We did not sell any equity securities which were not registered under the Securities Act during the year ended October 31, 2013 that were not otherwise disclosed on our quarterly reports on Form 10-Q or our current reports on Form 8-K filed during the year ended October 31, 2013.

Equity Compensation Plan Information

We have no long-term incentive plans other than the stock option plans described below: 2007 Equity Plan On April 25, 2007, our shareholders approved our 2007 Equity Incentive Stock Option Plan.

The 2007 Plan permits our company to issue up to 500,000 shares of our common stock to eligible employees and directors of our company upon the exercise of stock options granted under the 2010 Plan. As of October 31, 2013, there are 100,000 option available to be awarded under the 2007 Plan.

2010 Equity Compensation Plan

On February 26, 2010, our shareholders approved and adopted our 2010 equity incentive plan.

The 2010 Plan permits our company to issue up to 1,800,000 shares of our common stock to directors, officers, employees and eleigble consultants of our company upon the exercise of stock options granted under the 2010 Plan. As of October 31, 2013, there are no options available to be awarded under the 2010 Plan.

Equity Compensation Plan Information

Plan category	Number of securities to be issued upon exercise of outstanding options, warrants and rights	Weighted-average exercise price of outstanding options, warrants and rights	Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a))
Equity compensation plans not approved by shareholders	Nil	Nil	Nil
Equity compensation plans approved byshareholders:
2007 Equity compensation plan	400,000	Nil	100,000
2010 Equity compensation plan	1,800,000	$0.26	Nil
Total	2,200,000	0.26	100,000

Purchases of Equity Securities by the Issuer and Affiliated Purchasers

We did not purchase any of our shares of common stock or other securities during our fiscal year ended October 31, 2013.

Item 6. Selected Financial Data

As a “smaller reporting company”, we are not required to provide the information required by this Item.

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion should be read in conjunction with our audited consolidated financial statements and the related notes that appear elsewhere in this annual report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward looking statements. Factors that could cause or contribute to such differences include, but are not limited to; those discussed below and elsewhere in this annual report, particularly in the section entitled "Risk Factors" beginning on page 11 of this annual report.

Our audited financial statements are stated in United States Dollars and are prepared in accordance with United States Generally Accepted Accounting Principles.

Results of Operations for our Years Ended October 31, 2013 and 2012

Our net loss and comprehensive loss for the year ended October 31, 2013, for the year ended October 31, 2012 and the changes between those periods for the respective items are summarized as follows:

								Change Between
								Year Ended
		Year Ended			Year Ended			October 31, 2012
		October 31,			October 31,			and Year Ended
		2013			2012			October 31, 2012
		$			$			$
Revenue	$	1,097,455		$	1,357,762		$	(260,307	)
Other (income)expenses		Nil			Nil			Nil
General and administrative		645,802			826,002			(180,200	)
Interest expense		267,357			237,641			29,716
Consulting fees		196,706			239,260			(42,554	)
Oil and gas operating expenses		452,142			326,670			125,472
Professional Fees		59,129			166,498			(107,369	)
Net Income (loss)		(343,551	)		(251,508	)		(92,043	)

Revenue

Our revenue decreased by $260,307 during the year ended October 31, 2013. The decrease in our oil and gas revenues for our year ended October 31, 2013 was largely due to decreased production volumes for oil wells PP F-12-1 and PP F-12-3 along with production from wells 12-4 and 12-5. Well PP F-12-4 is temporarily shut-in during the last quarter of October 31, 2013 due to a workover not completed due to technical complications that have not been resolved.

General and Administrative

Our general and administrative expenses decreased by $180,200 during the year ended October 31, 2013. The decrease in our general and administrative expenses for our year ended October 31, 2013 was due to decreased costs for stock based compensation, consulting, professional fees, travel, foreign exchange and advertising.

Professional Fees

Our professional fees decreased by $107,369 during the year ended October 31, 2013. During the previous year ending October 31, 2012, we experienced higher than normal costs in accounting, audit and legal fees in connection with the preparation and filing of a Form S-1 and short form prospectus.

Interest Expense

Interest expense increased by $29,716 during the year ended October 31, 2013. The increase in interest expense for our year ended October 31, 2013 is due to the renegotiation and extension of the original convertible debt financing the Company entered into in 2012. Overall debt levels of the company have decreased during the most recent fiscal year.

Oil and Gas Operating Expenses

Oil and gas operating expenses increased to $452,142 during the year ended October 31, 2013. The increase in oil and gas operating expenses for our year ended October 31, 2013 was due to the increased production costs for oil wells PP F-12-1 and PP F-12-3 as we performed various well stimulations and other work designed to maximize production. Also, increased operating costs particularly on well 12-4 which encountered production challenges and required additional work, raised our costs. An average price of $106.22 per barrel was received during the 2013 fiscal year compared to an average of $102.75 per barrel for fiscal year 2012. Our net interests in the wells of Belmont Lake, had production volumes for the fiscal year ending October 31, 2013 were approximately 15,876 barrels, compared to production volumes for the year ending October 31, 2012 which were approximately 22,526. The operating cost per barrel for October 31, 2013 was approximately $27.85 and the cost per barrel for October 31, 2012 was approximately $14.50.

Liquidity and Financial Condition

Working Capital		At			At
		October 31,			October 31,
		2013			2012
Current assets	$	146,266		$	472,925
Current liabilities		1,415,203			1,711,332
Working capital (deficiency)	$	(1,268,937	)	$	(1,238,407	)

The Company has a working capital deficiency of $1,268,937 as of October 31, 2013. Historically the Company has funded operations from debt or equity financings and will attempt to do the same going forward, No assurances can be provided that the company will be successful in raising additional funds. Our oilfield operations (excluding G&A and other corporate expenses) generated $1,097,455 in revenue in the year ended October 31, 2013 while our field operating costs were $452,142, generating positive oil field cash flow of $645,313 prior to depletion and G&A expenses. The Company will need to refinance or renegotiate its debt obligations; operating requirements; and capital expenditures to whatever extent its oil field operations are unable to do so.

Cash Flows		Year Ended
		October 31,		October 31
		2013		2012
Cash flows from (used in) operating activities	$	321,000		135,943
Cash flows (used in) investing activities		(70,613	)	(274,132	)
Cash flows from (used in) financing activities		(365,359	)	287,502
Net increase (decrease) in cash during year	$	(114,972	)	149,313

Operating Activities

Net cash provided in operating activities was $321,000 for the year ended October 31, 2013 compared with cash provided in operating activities of $135,943 in the same period in 2012. This difference was largely due to the decrease in the accounts receivable that was capitalized.

Investing Activities

Net cash used in investing activities was $70,613 for the year ended October 31, 2013 compared to net cash used in investing activities of $274,132 in the same period in 2012. During the fiscal 2012 year, the Company focused its cash investing activities primarily on the workovers of the PP F-12-1 and PP F-12-3 wells, as well as on the Plug and Abandonment program of several old, inactive wells drilled in earlier years. During the 2013 fiscal year the Company’s cash investing had been focused primarily on the workover on PP F-12-4 wells and plug and abandonment program of several old inactive wells drilled in earlier years.

Financing Activities

Net cash used in financing activities was $365,359 for the year ended October 31, 2013 compared to net cash provided of $287,502 in the same period in 2012. The net cash used in 2013 is attributable to the repayment of a portion of the convertible debt financing that was done in 2011.

Contractual Obligations

As a “smaller reporting company”, we are not required to provide tabular disclosure obligations.

Going Concern

The financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. Our company has a net loss of $343,551 for the year ended October 31, 2013 (2012: $251,508) and at October 31, 2013 had a deficit of $5,057,677 (2012: $4,714,126). Our company has working capital deficiency of $1,268,937 as at October 31, 2013 (2012: $1,238,407). Our company requires additional funds to maintain our existing operations and to acquire new business assets. These conditions raise substantial doubt about our company’s ability to continue as a going concern. Management’s plans in this regard are to raise equity and debt financing as required, but there is no certainty that such financing will be available or that we will be available at acceptable terms. The outcome of these matters cannot be predicted at this time.

These financial statements do not include any adjustments to reflect the future effects on the recoverability and classification of assets or the amounts and classification of liabilities that might result from the outcome of this uncertainty.

At this time, we cannot provide investors with any assurance that we will be able to raise sufficient funding from the sale of our common stock or through a loan from our directors to meet our obligations over the next twelve months. We do not have any arrangements in place for any future debt or equity financing.

Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to stockholders.

Critical Accounting Policies

The discussion and analysis of our financial condition and results of operations are based upon our financial statements, which have been prepared in accordance with the accounting principles generally accepted in the United States of America. Preparing financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. These estimates and assumptions are affected by management’s application of accounting policies. We believe that understanding the basis and nature of the estimates and assumptions involved with the following aspects of our financial statements are critical to an understanding of our financial statements.

Recent Accounting Pronouncements

In February 2013, the FASB issued new accounting guidance to improve the reporting of reclassifications out of accumulated other comprehensive income. Under the guidance, an entity is required to provide information about the amounts reclassified out of accumulated other comprehensive income (“AOCI”) by component. In addition, an entity is required to present, either on the face of the financial statements or in the notes, significant amounts reclassified out of AOCI by the respective line items of net income, but only if the amount reclassified is required to be reclassified in its entirety in the same reporting period. For amounts that are not required to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures that provide additional details about those amounts. The guidance did not change the requirements for reporting net income or other comprehensive income in the financial statements. The new guidance is effective for annual reporting periods beginning on or after December 15, 2012, and interim periods within those annual periods. The Company expects to adopt this guidance in fiscal year 2014 and does not believe it will have a significant impact on its results of operations, financial condition and cash flows.

In March 2013, the Financial Accounting Standards Board ( “FASB”) issued Accounting Standards Update ("ASU") 2013-05, "Foreign Currency Matters (Topic 830); Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity." This guidance applies to the release of the cumulative translation adjustment into net income when a parent either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a business (other than a sale of in substance real estate or conveyance of oil and gas mineral rights) within a foreign entity. ASU No. 2013-05 is effective prospectively for fiscal years (and interim reporting periods within those years) beginning after December 15, 2013. The Company will adopt this guidance in fiscal year 2014 and does not believe it will have a significant impact on its results of operations, financial condition and cash flows.

In July 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. This new guidance provides specific financial statement presentation requirements of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The guidance states that an unrecognized tax benefit in those circumstances should be presented as a reduction to the deferred tax asset. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. Early adoption is permitted. The Company will adopt this guidance in fiscal year 2014 and does not believe that the adoption of this guidance will have a material impact on its financial statements.

Item 7A. Quantitative and Qualitative Disclosures About Market Risk

Not Applicable.

Item 8. Financial Statements and Supplementary Data

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Stockholders of

LEXARIA CORP.

We have audited the balance sheets of Lexaria Corp. (the “Company”) as at October 31, 2013 and 2012 and the related statements of stockholders’ equity and comprehensive income, operations and cash flows for the years then ended. These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform an audit to obtain reasonable assurance whether the financial statements are free of material misstatement. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstance, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control over financial reporting. Accordingly, we express no such opinion. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provides a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Company as at October 31, 2013 and 2012 and the result of its operations and its cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America.

The accompanying financial statements refer to above have been prepared assuming the Company will continue as a going concern. As discussed in Note 1 to the financial statements, the Company had recurring losses and requires additional funds to maintain its planned operations. These factors raise substantial doubt about its ability to continue as a going concern. Management’s plans in regard to these matters are also described in Note 1. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Vancouver, Canada
January 24, 2014	Chartered Accountants

LEXARIA CORP.

BALANCE SHEET

(Expressed in U.S. Dollars)

		October 31			October 31
		2013			2012
ASSETS
Current
Cash and cash equivalents	$	65,542		$	180,514
Accounts receivable		79,217			290,936
Prepaid expenses and deposit		1,507			1,475
Total Current Assets		146,266			472,925
Oil and gas properties (Note 5)
Proved properties		3,427,086			3,699,535
Unproved properties		-			19,293
TOTAL ASSETS	$	3,573,352		$	4,191,753
LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES
Current
Accounts payable and accrued liabilities	$	136,273		$	67,043
Loan payable (Note 6)		1,277,161			1,642,520
Due to a related party (Note 8)		1,769			1,769
Total Current Liabilities		1,415,203			1,711,332
Asset Retirement Obligations (Note 7)		59,245			59,245
TOTAL LIABILITIES		1,474,448			1,770,577
STOCKHOLDERS' EQUITY
Share Capital
Authorized:
200,000,000 common voting shares with a par value of $0.001 per share
Issued and outstanding: 16,431,452 common shares at October 31, 2013 and 2012		16,431			16,431
Additional paid-in capital		7,140,150			7,118,871
Deficit		(5,057,677	)		(4,714,126	)
Total Stockholders' Equity		2,098,904			2,421,176
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	3,573,352		$	4,191,753

The accompanying notes are an integral part of these financial statements.

LEXARIA CORP.

STATEMENTS OF OPERATIONS

(Expressed in U.S. Dollars)

	YEARS ENDED
	October 31
	2013		2012
Revenue
Natural gas and oil revenue	1,097,455		1,357,762
Cost of revenue
Natural gas and oil operating costs	452,142		326,670
Depletion	343,062		456,598
	795,204		783,268
Gross profit (loss)	302,251		574,494
Expenses
Accounting and audit	40,450		40,643
Insurance	6,947		6,677
Advertising and promotions	8,194		3,466
Bank charges and exchange loss	(19,211	)	8,965
Stock Based Compensation	21,279		11,336
Consulting (note 8)	196,706		239,260
Fees and Dues	26,909		62,506
Interest expense from loan payable (note 5,6)	267,357		237,641
Investor relation	-		29,616
Legal and professional	18,679		125,855
Office and miscellaneous	6,755		2,966
Rent	20,771		15,434
Telephone	7,170		4,135
Taxes	6,055		14,042
Travel	18,448		23,460
Write-off of oil and gas property	19,293		-
	645,802		826,002
Net (loss) for the year	(343,551	)	(251,508	)
Basic and diluted (loss) per share	(0.02	)	(0.02	)
Weighted average number of common shares outstanding
- Basic and diluted	16,431,452		16,431,452

The accompanying notes are an integral part of these financial statements.

LEXARIA CORP.

STATEMENT OF CASH FLOWS

(Expressed in U.S. Dollars)

		Years Ended
		October 31
		2013		2012
Cash flows used in operating activities
Net (loss) for the year	$	(343,551	)	(251,508	)
Adjustments to reconcile net loss to net cash
used in operating activities:
Consulting - Stock based compensation		21,279		11,336
Depletion		343,062		456,598
Write-off of oil and gas properties		19,293		-
Foreign exchange gain / loss		-		1,078
Change in operating assets and liabilities:
(Increase)/Decrease in accounts receivable		211,719		(60,056	)
(Increase)/ Decrease in prepaid expenses and deposit		(32	)	33,765
Increase in accounts payable		69,230		(55,270	)
Net cash used in operating activities		321,000		135,943
Cash flows used in investing activities
Oil and gas property acquisition and exploration costs		(91,613	)	(274,132	)
Proceeds from sales of oil and gas property		21,000		-
Net cash used in investing activities		(70,613	)	(274,132	)
Cash flows from financing activities
Payments of loan payable		(365,359	)	87,502
Proceeds from private placement and convertible debt		-		200,000
Net cash from financing Activities		(365,359	)	287,502
Increase (Decrease) in cash and cash equivalents		(114,972	)	149,313
Cash and cash equivalents, beginning of year		180,514		31,201
Cash and cash equivalents, end of year	$	65,542		180,514
Supplemental information of cash flows:
Interest paid in cash	$	267,357		237,641
Income taxes paid in cash	$	-		-

The accompanying notes are an integral part of these financial statements.

LEXARIA CORP.

STATEMENTS OF STOCKHOLDERS' EQUITY AND COMPREHENSIVE INCOME

(Expressed in U.S. Dollars)

	COMMON STOCK
					ADDITIONAL			TOTAL
					PAID-IN			STOCKHOLDERS'
	SHARES		AMOUNT		CAPITAL	DEFICIT		EQUITY
Balance, October 31, 2011	16,431,452		16,431		7,107,535	(4,462,618	)	2,661,348
Stock Options @ $0.30					9,589			9,589
Stock Options @ $0.20					1,747			1,747
Comprehensive income (loss):
(Loss) for the year						(251,508	)	(251,508	)
Balance, October 31, 2012	16,431,452		16,431		7,118,871	(4,714,126	)	2,421,176
Stock Options @ $0.10					21,279			21,279
Shares issued for services	160,000		11,200					11,200
Cancellation of shares issued for services	(160,000	)	(11,200	)				(11,200	)
Comprehensive income (loss):
(Loss) for the year						(343,551	)	(343,551	)
Balance, October 31, 2013	16,431,452		16,431		7,140,150	(5,057,677	)	2,098,904

The accompanying notes are an integral part of these financial statements.

LEXARIA CORP.

NOTES TO THE FINANCIAL STATEMENTS

October 31, 2013

(Expressed in U.S. Dollars)

1.	Organization and Business
	The Company was formed on December 9, 2004 under the laws of the State of Nevada and commenced operations on December 9, 2004. The Company is an independent natural gas and oil company engaged in the exploration, development and acquisition of oil and gas properties in the United States and Canada. The Company’s entry into the oil and gas business began on February 3, 2005. The Company has offices in Vancouver and Kelowna, BC, Canada.
	These financial statements have been prepared in accordance with United States generally accepted accounting principles applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. The Company has recurring operating loss and required additional funds to maintain its operations. Management’s plans in this regard are to raise equity and/or debt financing as required.
	The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. The Company has a net loss of $343,551 for the year ended October 31, 2013 (2012: $251,508) and at October 31, 2013 had a deficit accumulated since its inception of $5,057,677 (2012: $4,714,126). The Company has working capital deficit of $1,268,937 as at October 31, 2013 (2012: $1,238,407). The Company requires additional funds to maintain its existing oil and gas operations and developments. These conditions raise substantial doubt about our Company’s ability to continue as a going concern. Management’s plans in this regard are to raise equity and debt financing as required, but there is no certainty that such financing will be available or that it will be available at acceptable terms. The outcome of these matters cannot be predicted at this time and the financing environment is difficult.
	These financial statements do not include any adjustments to reflect the future effects on the recoverability and classification of assets or the amounts and classification of liabilities that might result from the outcome of this uncertainty.
2.	Business Risk and Liquidity
	The Company is subject to several categories of risk associated with its operating activities. Natural gas and oil exploration and production is a speculative business and involves a high degree of risk. Among the factors that have a direct bearing on the Company’s financial information are uncertainties inherent in estimating natural gas and oil reserves, future hydrocarbon production and cash flows, particularly with respect to wells that have not been fully tested and with wells having limited production histories; access and cost of services and equipment; and the presence of competitors with greater financial resources and capacity.
3.	Significant Accounting Policies

a)	Principles of Accounting
	These financial statements are stated in U.S. dollars and have been prepared in accordance with U.S. generally accepted accounting principles.
b)	Revenue Reconition
	The Company uses the sales method of accounting for natural gas and oil revenues. Under this method, revenues are recognized upon the passage of title, net of royalties. Revenues from natural gas production are recorded using the sales method. When sales volumes exceed the Company’s entitled share, an overproduced imbalance occurs. To the extent the overproduced imbalance exceeds the Company’s share of the remaining estimated proved natural gas reserves for a given property, the Company records a liability. At October 31, 2013 and 2012, the Company had no overproduced imbalances.

c)	Cash and Cash Equivalents
	Cash equivalents comprise certain highly liquid instruments with a maturity of three months or less when purchased. As of October 31, 2013 and 2012, cash and cash equivalents consist of cash only.
d)	Oil and Gas Properties

The Company utilizes the full cost method to account for its investment in oil and gas properties. Accordingly, all costs associated with acquisition, exploration and development of oil and gas reserves, including such costs as leasehold acquisition costs, capitalized interest costs relating to unproved properties, geological expenditures, tangible and intangible development costs including direct internal costs are capitalized to the full cost pool. When the Company obtains proven oil and gas reserves, capitalized costs, including estimated future costs to develop the reserves and estimated abandonment costs, net of salvage, will be depleted on the units-of-production method using estimates of proved reserves.

Investments in unproved properties are not depleted pending determination of the existence of proved reserves. Unproved properties are assessed periodically to ascertain whether impairment has occurred. Unproved properties whose costs are individually significant are assessed individually by considering the primary lease terms of the properties, the holding period of the properties, and geographic and geologic data obtained relating to the properties. Where it is not practicable to assess individually the amount of impairment of properties for which costs are not individually significant, such properties are grouped for purposes of assessing impairment. The amount of impairment assessed is added to the costs to be amortized, or is reported as a period expense, as appropriate.

Pursuant to full cost accounting rules, the Company must perform a ceiling test periodically on its proved oil and gas assets. The ceiling test provides that capitalized costs less related accumulated depletion and deferred income taxes for each cost center may not exceed the sum of (1) the present value of future net revenue from estimated production of proved oil and gas reserves using current prices, excluding the future cash outflows associated with settling asset retirement obligations that have been accrued on the balance sheet, at a discount factor of 10%; plus (2) the cost of properties not being amortized, if any; plus (3) the lower of cost or estimated fair value of unproved properties included in the costs being amortized, if any; less (4) income tax effects related to differences in the book and tax basis of oil and gas properties. Should the net capitalized costs for a cost center exceed the sum of the components noted above, an impairment charge would be recognized to the extent of the excess capitalized costs.

Sales of proved and unproved properties are accounted for as adjustments of capitalized costs with no gain or loss recognized, unless such adjustments would significantly alter the relationship between capitalized costs and proved reserves of oil and gas, in which case the gain or loss is recognized in the statement of operations.

Exploration activities conducted jointly with others are reflected at the Company’s proportionate interest in such activities.

Cost related to site restoration programs are accrued over the life of the project.

e)

Stock-Based Compensation

Accounting Standards Codification (“ASC”) 718, “Compensation – Stock Compensation”, accounts for its stock options and similar equity instruments issued. Accordingly, compensation costs attributable to stock options or similar equity instruments granted are measured at the fair value at the grant date, and expensed over the expected vesting period. ASC 718 requires excess tax benefits be reported as a financing cash inflow rather than as a reduction of taxes paid.

f)	Accounting Estimates
	The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and assumptions. Significant estimates are required in the valuation of deferred tax assets, asset retirement obligations, share-based payment arrangements and proved oil and gas reserves, and such estimates may impact the amount at which such items are recorded.
g)	Capital Assets
	The capital asset represents computer equipment which is carried at cost and is amortized over its estimated useful life of 3 years straight-line. Computer equipment is written down to its net realizable value if it is determined that its carrying value exceeds estimated future benefits to the Company.
h)	Loss Per Share
	Loss per share is computed using the weighted average number of shares outstanding during the period. The Company has adopted ASC 220 “Earnings Per Share”. Diluted loss per share is equivalent to basic loss per share because the potential exercise of the equity-based financial instruments was anti-dilutive.
i)	Foreign Currency Translations
	The Company’s operations are located in the United States of America and Canada, and it has offices in Canada. The Company maintains its accounting records in U.S. Dollars, as follows:
	At the transaction date, each asset, liability, revenue and expense that was acquired or incurred in a foreign currency is translated into U.S. dollars by the using of the exchange rate in effect at that date. At the period end, monetary assets and liabilities are translated at the exchange rate in effect at that date. The resulting foreign exchange gains and losses are included in operations.
j)	Financial Instruments
	ASC 820 “Fair Value Measurements and Disclosures” requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value:
	Level 1 - Quoted prices in active markets for identical assets or liabilities;
	Level 2 - Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; and
	Level 3 - Unobservable inputs that are supported by little or no market activity, therefore requiring an entity to develop its own assumptions about the assumptions that market participants would use in pricing.

	The Company’s financial instruments consist primarily of cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, loan payable and due to a related party. The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, loans payable and due to a related party approximate their fair values due to their short maturities. The carrying values of the Company‘s long-term debt approximate their fair values based upon a comparison of the interest rate and terms of such debt to the rates and terms of debt currently available to the Company.
	The Company is located in Canada, which results in exposure to market risks from changes in foreign currency rates. The financial risk is the risk to the Company’s operations that arise from fluctuations in foreign exchange rates and the degree of volatility of these rates. Currently, the Company does not use derivative instruments to reduce its exposure to foreign currency risk.
k)	Income Taxes
	The Company has adopted ASC 740, “Income Taxes”, which requires the Company to recognize deferred tax liabilities and assets for the expected future tax consequences of events that have been recognized in the Company’s financial statements or tax returns using the liability method. Under this method, deferred tax liabilities and assets are determined based on the temporary differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect in the year in which the differences are expected to reverse.
l)	Long-Lived Assets Impairment
	Long-term assets of the Company are reviewed for impairment when circumstances indicate the carrying value may not be recoverable in accordance with the guidance established in ASC 360, “Property, Plant and Equipment’. For assets that are to be held and used, an impairment loss is recognized when the estimated undiscounted cash flows associated with the asset or group of assets is less than their carrying value. If impairment exists, an adjustment is made to write the asset down to its fair value. Fair values are determined based on discounted cash flows or internal and external appraisals, as applicable. Assets to be disposed of are carried at the lower of carrying value or estimated net realizable value.
m)	Asset Retirement Obligations
	The Company accounts for asset retirement obligations in accordance with the provisions of ASC 410, “Asset Retirement and Environmental Obligations”. ASC 410 requires the Company to record the fair value of an asset retirement obligation as a liability in the period in which it incurs a legal obligation associated with the retirement of tangible long-lived assets that result from the acquisition, construction, development and/or normal use of the assets.
n)	Comprehensive Income
	The Company has adopted ASC 220, “Comprehensive Income”, which establishes standards for reporting and display of comprehensive income, its components and accumulated balances. The Company is disclosing this information on its Statement of Stockholders’ Equity. Comprehensive income comprises equity changes except those transactions resulting from investments by owners and distributions to owners.
o)	Credit risk and receivable Concentration
	The Company places its cash and cash equivalent with high credit quality financial institution. As of October 31, 2013, the Company had approximately $51,072 in a bank beyond insured limit (October 31, 2012: $171,845).

	The revenues were generated from the Company’s sole customer for fiscal year 2013 and 2012; the corresponding accounts receivable balances were $17,148 and $257,693 at October 31, 2013 and 2012, respectively.
p)	Convertible Debentures
	The Company accounts for its convertible debt instruments that may be settled in cash upon conversion according to ASC 470-20-30-22 which requires the proceeds from the issuance of such convertible debt instruments to be allocated between debt and equity components so that debt is discounted to reflect the Company’s non-convertible debt borrowing rate.
	Further, the Company applies ASC 470-20-35-13 which requires the debt discount to be amortized over the period the convertible debt is expected to be outstanding as additional non-cash interest expense.
q)	Commitments and Contingencies
	In accordance with ASC 450-20, “Accounting for Contingencies”, the Company records accruals for such loss contingencies when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. In the event that estimates or assumptions prove to differ from actual results, adjustments are made in subsequent periods to reflect more current information. Historically, the Company has not experienced any material claims.
r)	Newly Adopted Accounting Policies
	In December 2011, the FASB issued new accounting guidance for disclosures about offsetting assets and liabilities which requires an entity to disclose information about financial instruments that have been offset and related arrangements to enable users of its financial statements to understand the effect of those arrangements on its financial position. Entities will be required to provide both net (offset amounts) and gross information in the notes to the financial statements for relevant assets and liabilities that are offset. The new guidance is effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. The Company adopted this guidance in fiscal year 2013 and does not have significant impact on its results of operations, financial condition and cash flows.
s)	New Accounting Pronouncements

In February 2013, the FASB issued new accounting guidance to improve the reporting of reclassifications out of accumulated other comprehensive income. Under the guidance, an entity is required to provide information about the amounts reclassified out of accumulated other comprehensive income (“AOCI”) by component. In addition, an entity is required to present, either on the face of the financial statements or in the notes, significant amounts reclassified out of AOCI by the respective line items of net income, but only if the amount reclassified is required to be reclassified in its entirety in the same reporting period. For amounts that are not required to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures that provide additional details about those amounts. The guidance did not change the requirements for reporting net income or other comprehensive income in the financial statements. The new guidance is effective for annual reporting periods beginning on or after December 15, 2012, and interim periods within those annual periods. The Company expects to adopt this guidance in fiscal year 2014 and does not believe it will have a significant impact on its results of operations, financial condition and cash flows.

In March 2013, the Financial Accounting Standards Board ( “FASB”) issued Accounting Standards Update ("ASU") 2013-05, "Foreign Currency Matters (Topic 830); Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity." This guidance applies to the release of the cumulative translation adjustment into net income when a parent either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a business (other than a sale of in substance real estate or conveyance of oil and gas mineral rights) within a foreign entity. ASU No. 2013-05 is effective prospectively for fiscal years (and interim reporting periods within those years) beginning after December 15, 2013. The Company will adopt this guidance in fiscal year 2014 and does not believe it will have a significant impact on its results of operations, financial condition and cash flows.

	In July 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. This new guidance provides specific financial statement presentation requirements of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The guidance states that an unrecognized tax benefit in those circumstances should be presented as a reduction to the deferred tax asset. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. Early adoption is permitted. The Company will adopt this guidance in fiscal year 2014 and does not believe that the adoption of this guidance will have a material impact on its financial statements.
	Accounting standards that have been issued or proposed by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the Company’s financial statements upon adoption.
4.	Capital Stock
	Share Issuances
	On August 23, 2013, the Company issued 160,000 restricted common shares to Carmel Advisors LLC for the purpose of public relations and corporate communications services, such shares were cancelled in the period subsequent to October 31, 2013 due to the cancellation of the service agreement.
	As at October 31, 2013 and 2012, Lexaria Corp. has 16,431,452 shares issued and outstanding.
5.	Oil and Gas Properties

(a) Proved properties

Properties		October 31,		Addition		Depletion			October 31,
		2012							2013
U.S.A. – Proved property	$	3,699,535	$	70,613	$	(343,062	)	$	3,427,086

Properties		October 31,		Addition		Depletion			October 31,
		2011							2012
U.S.A. – Proved property	$	3,717,866	$	438,267	$	(456,598	)	$	3,699,535

Palmetto Point Project

On December 21, 2005, the Company agreed to purchase a 20% working and revenue interest in a 10 well drilling program in Mississippi owned by Griffin & Griffin Exploration for $700,000. Concurrent with signing the Company paid $220,000 and January 17, 2006 the Company paid the remaining $480,000. The Company applied the full cost method to account for its oil and gas properties, seven wells were found to be proved wells, and three wells were found impaired. One of the wells was impaired due to uneconomic life, and the other two wells were abandoned due to no apparent gas or oil shows present. The costs of impaired properties were added to the capitalized cost in determination of the depletion expense.

On September 22, 2006, the Company elected to participate in an additional two-well program in Mississippi owned by Griffin & Griffin Exploration and paid $140,000. The two wells were found to be proved wells.

On June 23, 2007, the Company acquired an assignment of 10% gross working interest from a third party for $520,000 secured loan payable. The Company recognized $501,922 in the oil and gas property.

On October 4, 2007, the Company elected to participate in the drilling of PP F-12-3 in Mississippi by Griffin & Griffin Exploration. The Company had 30% gross working interest and paid $266,348. On July 31, 2008, the Company accrued and paid an additional cost of $127,707 for the workovers of wells PP F-12 and PP F-12-3. PP F-12 started production from October 2007, and PP F-12-3 started production from November 2007.

On April 3, 2009, the Company entered into an Asset Purchase Agreement to acquire additional interests in its existing core producing Mississippi oil and gas properties. The Company paid $40,073 to acquire additional 2% working interest in the proven Belmont Lake oil and gas and an additional 10% working interest in potential nearby exploration wells. At this time the total working interest for Belmont Lake is 32%; and total working interest in the exploration wells on approximately 140,000 acres surrounding Belmont Lake in all directions is 60%.

The Company had a short-lived opportunity to acquire additional fractional interests in the Belmont Lake 12-4 well which was expected to be a horizontal well. An unrelated third party did not participate in its right to participate in the 12-4 well, and therefore a share of its interest (a “non consent” interest) was made available to the other participating parties including Lexaria. On August 28, 2009 and effective on September 1, 2009, to take best advantage of this opportunity, the Company entered into four separate assignment agreements, three of which were with people or companies with related management. The Company received from these four parties proceeds of $371,609 to fund additional interests in this well. As a result, the Company has a 25.84% perpetual gross interest in the well (18.0% net revenue interest); as well as a 5.2% net revenue interest in the non-consent interest. The non-consent interest remains valid until such time as the well produces 500% of all costs and expenses back to the participants in the form of revenue, at which time the non-consent interest ends. Enertopia, a company with related management, had acquired from Lexaria a 6.16% perpetual gross interest in the 12-4 well; David DeMartini, a director of Lexaria, acquired from Lexaria a 5% gross interest in the non-consent interest in the 12-4 well; and Kelowna Resources Group formerly known as 0743608 BC Ltd. a company owned by the President of the Company, acquired from Lexaria a 11.60% gross interest in the non-consent interest in the 12-4 well.

On May 31, 2010, the Company signed a Settlement Agreement with Enertopia Corp., whereby the Company issued 499,893 units at $0.12 per unit and each unit consists of one restricted common share and one share purchase warrant at $0.20 per share for a period of two years in exchange for the working interest initially assigned on August 28, 2009.

On June 16, 2010, the Company signed a Settlement Agreement with a third party, who had originally participated in the August 28, 2009, opportunity in the non-consent interest for Belmont Lake 12-4. The Company returned back $144,063 to the third party and cancelled its participation.

On July 29, 2010, the Company had agreed with its Operators at Belmont Lake not to proceed to drill a horizontal 12-4 well. Rather, two of the three proposed vertical wells 12-2, 12-4, or 12-5 were proposed to be drilled. To take best advantage of this opportunity, the Company cancelled all previous agreements relating to August 28, 2009 with respect to Belmont Lake horizontal well 12-4 and entered into three separate assignment agreements, of which all three were with people or companies with related management. The Company received total proceeds of $324,677 to fund additional interests in these wells. As a result, the Company had a 32% perpetual gross interest in the wells (24.0% net revenue interest); as well as a 8% gross interest (6% net revenue interest) in the non-consent interest. The non-consent interest remains valid until such time as the well produces 500% of all costs and expenses back to the participants in the form of revenue, at which time the non-consent interest ends. Emerald Atlantic LLC, a company owned by a director of Lexaria, acquired from Lexaria a 8.74% gross interest in the non-consent interest in two of the three vertical wells; and Kelowna Resources Group formerly known as 0743608 BC Ltd. a company owned by the President of the Company, acquired from Lexaria a 20.79% gross interest in the non-consent interest in the two of the three vertical wells; an advisor to the Company acquired from Lexaria 2.46% gross interest in the non-consent interest in two of the three vertical wells.

The July 29, 2010 agreements were replaced on September 13, 2010, when the Company entered into three separate assignment agreements with Kelowna Resources Group formerly known as 0743608 BC Ltd, solely owned by Director/Officer of the Company; Emerald Atlantic LLC, solely owned by a Director of the Company, and the Senior VP Business Development. (the “Assignees”), whereby the Assignees have paid a fee of $408,116 to earn a 24% share of the Company’s gross non-perpetual 32% interest in the three oil wells being drilled in Wilkinson County, Mississippi. As a result of the three assignment agreements, Lexaria receives at no cost to the company, a carried interest of 8% in these same rights and benefits. The Company assigns, transfers and sets over to the Assignees, all proportionate rights, interest and benefits in the Assigned Non Perpetual Interest held by or granted to the Assignor in and to the Participation Agreement between the Company and Griffin but limited to a gross 500% revenue payout based on the total amount paid under the Initial Consideration and the Subsequent Consideration after which all rights, interests and benefits cease.

Lexaria entered into an Asset Purchase Agreement dated August 12, 2011, with Brinx Resources Ltd. to acquire 100% of its 10% gross working interest in the oil and gas interests located in Mississippi, USA. By acquiring the additional 10% working interest in Belmont Lake oil and gas field, Lexaria then had 42% working interest in Belmont Lake and retains its existing 60% working interest in the exploration wells on approximately 130,000 acres surrounding Belmont Lake in all directions.

Lexaria has agreed to considerations as follows;

1.	$200,000 on the August 12, 2011 (the "Initial Payment") (paid), and
2.	$200,000 on or before November 12, 2011; or interim payments, as agreed, in the amount of $10,000 per month for up to 3 months following November 12, 2011 with the remaining balance of $200,000 then due and payable (the "Final Payment"), and, should Lexaria not make the final payment on February 12, 2011 a penalty of $500 per day (the “Penalty Payments”) beginning one day after February 12, 2011 and accruing until the balance of the $200,000 Final Payment is made to the Vendor. Both the Vendor and the Purchaser agreed that, should any Penalty Payments be due, such Penalty Payments are not deductible from the balance of the $200,000 Final Payment. As at October 31, 2012, the Company has paid $230,000, including the interim payments and Final Payment.
3.	800,000 shares of restricted common stock issued from Lexaria treasury were issued on August 12, 2011.

During the year ended October 31, 2013, additional expenditures of $91,613 were incurred for workovers and there were additional well interest changes or workovers pending of well PP F-4. During the year ended October 31, 2012, additional expenditures of $378,967 were incurred for workovers and there were additional well interest changes or workovers pending for wells PP F-12, PP F12-3, and PP F29.

	As of October 31, 2013 and 2012, the Company’s working interest and production in PPF-12-4 and PPF-12-5 well located at Belmont Lake, Mississippi, with carrying values of $1,000,000, are used as security for the convertible debentures issued on November 30, 2010, December 16, 2010 and December 1, 2011 (see note 6 (b) and (c)), with aggregate amount of $820,000.
(b)	Unproved Properties

Properties	October 31,			October 31,
	2012	Write-off		2013
U.S.A.-Unproved properties	19,293	(19,293	)	-

Mississippi and Louisiana, USA

The Company entered into an Agreement to acquire a working interest in multiple zones of potential oil and gas production in Mississippi and Louisiana. This Agreement contemplates up to a 50 well drill program for Wilcox and Frio wells, at the Company’s option, within the defined area of mutual interest (AMI). The AMI includes over 200,000 gross acres located non-contiguously between Southwest Mississippi and North East Louisiana.

The Company originally agreed to pay 40% of all prospect fees, mineral leases, surface leases, and drilling and completion costs to earn a net 32% of all production from all producible zones to the base of the Frio formation (Frio Targets); and, 30% of all production to the base of the Wilcox formation (Wilcox Targets). All working interests are to be registered in the name of Lexaria Corp.

On June 21, 2007, the Company acquired an additional 10% from a third party for all rights, title and benefits excluding the seven wells drilled under the AMI Agreement between August 3, 2006 and June 19, 2007, specifically wells CMR-USA-39-14, Dixon #1, Faust #1 TEC F-1, CMR/BR F-14, RB F-1 Red Bug #2, BR F-33, and Randall #1 F-4, and any offset wells that could be drilled to any of these specified wells.

On July 26, 2007, the Company acquired 5% from a third party for all rights, title and benefits in the seven wells drilled under the AMI Agreement between August 3, 2006 and June 19, 2007, specifically wells CMR-USA-39-14, Dixon #1, Faust #1 TEC F-1, CMR/BR F-14, RB F-1 Red Bug #2, BR F-33, and Randall #1 F-4, and any offset wells that could be drilled to any of these specified wells.

On April 3, 2009, the Company entered into an Asset Purchase Agreement to acquire additional interests in its existing core producing Mississippi oil and gas properties. The Company paid $40,073 to acquire an additional 2% working interest in the proven Belmont Lake oil and gas field, and an additional 10% working interest in potential nearby exploration wells. Further, the Company is required to pay $100 per month for a period of 4 years from the closing. Total working interest for Belmont Lake as of October 31, 2010 is 32%; and total working interest in the exploration wells on approximately 140,000 acres surrounding Belmont Lake in all directions as of October 31, 2010, is 60%.

On December 16, 2010, the Company entered into an assignment agreement with Emerald Atlantic LLC, solely owned by a Director of the Company (the “Assignee”), whereby the Assignee has paid a fee of $30,076 to earn 18% of a 4.423% share of the Company’s net revenue interest after field operating expenses for a well USA 1-27 that was subsequently drilled in Wilkinson County and found to have no economic oil or gas reserves.

As of October 31, 2013, the AMI had expired as scheduled, and all related oil and gas acquisition and exploration costs have been written off.

6. Loan Payable

			Carrying amounts
		Original	October 31,	October 31,
Notes	Nature	amounts	2013	2012
		$	$	$
a)	Promissory Note	75,000	75,000	75,000
b)	Convertible debentures	620,000	413,333	610,073
c)	Convertible debentures	200,000	141,667	200,000
d)	Promissory Note	50,000	50,000	50,000
e)	Promissory Note	50,000	-	50,000
f)	Promissory Note	657,447	597,161	657,447
Total Outstanding		1,652,447	1,277,161	1,642,520
Loan payable - current		1,652,447	1,277,161	1,642,520
Loan payable - long term		-	-	-

a)	On April 1, 2010, the Company entered into a purchase agreement with CAB Financial Services Ltd., a company controlled by Christopher Bunka, our President, Chief Executive Officer and Director, (“Purchaser”) for a non-secured promissory note in the amount of $75,000 (the “Promissory Note”). The Purchaser agreed to purchase a non-secured 18% interest bearing Promissory Note of our company subject to and upon the terms and conditions of the Purchase Agreement. The Promissory Note was due and payable on April 1, 2012. The Promissory Note may be prepaid in whole or in part at any time prior to April 1, 2012 by payment of 108% of the outstanding principal amount including accrued and unpaid interest. Upon the mature of the Promissory Note, it has been renewed to a month to month basis.
	As long as the Promissory Note is outstanding, the Purchaser may voluntarily convert the Promissory Note including accrued and unpaid interest to common shares of our Company at the conversion price of $0.30 per common share.
	The Company did not incur beneficiary conversion charges as the conversion price is greater than the fair value of the Company’s equity at the time of issuance.
b)	On November 30, 2010, we closed the first tranche of a private placement offering of convertible debentures in the aggregate amount of $450,000. The convertible debentures mature on November 30, 2012, subject to forced conversion as set out in the convertible debenture certificate. The convertible debentures pay an interest rate of 12% per annum (on a simple basis) and are convertible at $0.35 per unit. Each unit is comprised of one share of our common stock and one share purchase warrant. Each warrant entitles the holder thereof to purchase one share at a price of $0.40 per share up to the earlier of the maturity date of the convertible debenture or one year from conversion of the convertible debenture.
	We also entered into a general security agreement with the subscribers, whereby the obligations to repay the convertible debenture are secured by the Company’s working interest and production in and only in two oil wells located at Belmont Lake, Mississippi, with carrying value of $1,000,000 as of October 31, 2012. One director of the Company and Emerald Atlantic LLC, solely owned by the director, subscribed the convertible debentures with amount of $50,000.

	On December 16, 2010, the Company closed the second tranche of a private placement offering of convertible debentures in the aggregate amount of $170,000. The convertible debentures mature on November 30, 2012, subject to forced conversion as set out in the convertible debenture certificate. The convertible debentures pay an interest rate of 12% per annum (on a simple basis) and are convertible at $0.35 per unit. Each unit is comprised of one share of our common stock and one share purchase warrant. Each warrant entitles the holder thereof to purchase one share at a price of $0.40 per share up to the earlier of the maturity date of the convertible debenture or one year from conversion of the convertible debenture. We also entered into a general security agreement with the subscribers, whereby the obligations to repay the convertible debenture are secured by the same assets for the first tranche of the private placement offering on November 30, 2010. One director of the Company and Emerald Atlantic LLC, solely owned by the director, subscribed the convertible debentures with amount of $120,000.
	The aggregate principal value of the above convertible debentures was $620,000 and was allocated to the individual components on a relative fair value basis. In addition, because the effective conversion price of the convertible debentures was below the current trading price of the Company’s common shares at the date of issuance, the Company recorded a beneficial conversion feature of approximately $20,000. The value of the warrants and beneficial conversion feature has been recorded as additional paid in capital.
	Upon its maturity on November 30, 2012, the covertible debentures was not converted. The Company entered into an Amendment to existing debt agreement with debt holders, whereby the lenders have agreed to modify terms of the earlier agreements and provide for a debt repayment schedule ending on November 30, 2013. The Company was scheduled to repay the debt in twelve equal monthly principal payment, plus interest on the monthly declining balances. The interest rates of the amendment debt are the same as the existing debt agreement.
	During the year ended October 31, 2013, the Company has paid down the debt by $206,667 (October 31, 2012: $nil). Subsequent to October 31, 2013, the Company entered into an Amendment agreement to refinance and extend repayment terms on the loan, please refer to Note 6g for details.
c)	On December 1, 2011, the Company closed a private placement offering of convertible debentures in the aggregate amount of $200,000. The convertible debentures mature on December 1, 2012, subject to forced conversion as set out in the convertible debenture certificate. The convertible debentures pay an interest rate of 12% per annum (on a simple basis) and are convertible at $0.35 per unit. Each unit is comprised of one share of our common share and one share purchase warrant. Each warrant entitles the holder thereof to purchase one share at a price of $0.40 per share up to the earlier of the maturity date of the convertible debenture or one year from conversion of the convertible debenture. The Company also entered into a general security agreement with the subscribers, whereby the obligations to repay the convertible debenture are secured by the Company’s working interest and production in and only in two oil wells located at Belmont Lake, Mississippi, with carrying value of $1,000,000 as of October 31, 2012. Two directors of the Company, David DeMartini and Christopher Bunka, via CAB Financial Services Ltd, solely owned by the director, subscribed to the convertible debentures with the amount of $200,000.
	The aggregate principal value of the above convertible debentures was $200,000 and was allocated to the individual components on a relative fair value basis. Because the effective conversion price of the convertible debentures was above the current trading price of the Company’s common shares at the date of issuance, beneficial conversion feature is $Nil, therefore, the amount of $200,000 was recorded under loan payable.
	Upon its maturity on December 1, 2012, the covertible debentures was not converted. The Company entered into an Amendment to existing debt agreement with debt holders, whereby the lenders have agreed to modify terms of the earlier agreements and provide for a debt repayment schedule ending on December 1, 2013. The Company was scheduled to repay the debt in twelve equal monthly principal payment, plus interest on the monthly declining balances. The interest rates of the amendment debt are the same as the existing debt agreement.

	During the year ended October 31, 2013, the Company has paid down the debt by $58,333 (October 31, 2012: $nil). Subsequent to October 31, 2013, the Company entered into an Amendment agreement to refinance and extend repayment terms on the loan, please refer to Note 6g for details.
d)	On March 30, 2012, the Company entered into a loan agreement with Christopher Bunka, our President, Chief Executive Officer and Director, (“Lender”) for a non-secured promissory note in the amount of $50,000 (the “Promissory Note”). The Lender agreed to purchase a non-secured 12% interest bearing Promissory Note of our company subject to and upon the terms and conditions of the agreement. The Promissory Note has a month to month term.
e)	On July 20, 2012, the Company entered into a loan agreement with Christopher Bunka, our President, Chief Executive Officer and Director, (“Lender”) for a non-secured promissory note in the amount of $50,000 (the “Promissory Note”). The Company promises to pay to Lender at the end of every month $4,166 to be applied against the principal amount outstanding from the date of the Loan Agreement for twelve months, plus interest at the rate of 12% per annum on the outstanding balance.
	During the year ended October 31, 2013, the Company has paid down the debt in full (October 31, 2012: $Nil).
f)	On October 27, 2008 the Company entered into a Purchase Agreement in the amount of CAD$900,000 of Notes being purchased by the President (CAD$400,000), the President’s wholly-owned company (CAD$300,000) and a shareholder (CAD$200,000) of the Company (“Purchasers”). The Purchasers agreed to purchase an 18% interest bearing Promissory Note of the Company subject to and upon the terms and conditions of the Purchase Agreement. The Company’s obligations to repay the Promissory Note will be secured by certain specified assets of the Company pursuant to a Security Agreement. As long as the Promissory Note is outstanding, the Purchasers may voluntarily convert the Promissory Note to Common Shares at the conversion price of $0.45 per share of Common Stock. The Promissory Note matures on October 27, 2010 or by mutual agreement by all parties on October 27, 2009.

In connection with the Purchase Agreement, the Company issued a total of 390,000 (1,560,000 pre-consolidation) warrants which two warrants entitle a holder to purchase a common share of the Company of which 195,000 (780,000 pre-consolidation) warrants are eligible at $0.05 (adjusted price) and 195,000 (780,000 pre-consolidation) warrants are eligible at $0.05 (adjusted price) per share and expire October 27, 2009 and October 27, 2010, respectively.

The Company did not incur beneficiary conversion charges as the conversion price is greater than the fair value of the Company’s equity.

As at the date of the issuance of the above noted Promissory Note, the Company allocated CAD$21,321 and CAD$683,559 to warrants (additional paid-in capital) and Promissory Note based on their relative fair value.

On July 10, 2009 the Purchasers converted $45,000 of the Promissory Note into equity at $0.05.

On October 27, 2009, 191,000 warrants were exercised for 95,500 common shares.

On October 21, 2010, the Company settled a portion of the debt, namely $1,625 with the President’s wholly-owned company by converting 65,000 warrants into 32,500 common shares of the Company as per Purchase Agreement dated October 27, 2008 at a price of $0.05 per share.

On October 21, 2010, the Company settled a portion of the debt, namely $2,167 with the President by converting 86,667 warrants into 43,333 common shares of the Company as per Purchase Agreement dated October 27, 2008 at a price of $0.05 per share.

	On October 21, 2010, the Company entered into an amendment with loan holders to extend the loan to be on a month-to-month basis with the same terms and conditions as pursuant to the amendment.
	On December 1, 2012, the Company entered into an Amendment to existing debt agreement with a shareholder of the Company, whereby the lender has agreed to modify terms of the earlier agreements and provide for a debt repayment schedule ending on December 1, 2013. The Company was scheduled to repay the debt in twelve equal monthly principal payment, plus interest on the monthly declining balances. The interest rates of the amendment debt are the same as the existing debt agreement. Subsequent to October 31, 2013, the Company entered into an Amendment agreement to refinance and extend repayment terms on the loan, please refer to Note 7g for details.
	During the year ended October 31, 2013, the Company has paid down the debt by CAD$36,667 (October 31, 2012: CAD$185,000).
g)	Subsequent to year end, on November 13, 2013, the Company refinanced and extended repayment terms on all debt that was otherwise due to mature in December 2013 with CAB Financial Services Ltd., David DeMartini, Emerald Atlantic LLC, and other debt holders of the Company. Per the Amendment Agreements, a) the loan repayment schedule will be converted, with an effective date of December 1, 2013, to a new one year term loan with monthly interest payments at 18% on any declining balance, in arrears and all principal amounts not paid before then due in full on December 1, 2014; b) the first payment of interest shall be due on January 1, 2014; c) the Company will make ten (10) monthly principal payments, each of which is 1/10th of the principal amount owing at the time this Agreement goes into effect, beginning on March 1 2014 and repeating on the first day of each month thereafter until all the principal is paid; d) the Company grants to the lenders new collateral specifically limited to the lender’s pro-rata portion (the original initial balance owing to the lender shall form the numerator and $930,000 shall form the denominator) of the Company’s portion of the net revenue from the new 12-7 well required to keep the terms of this Agreement in good standing at any given monthly due date.

7.	Asset retirement obligations
	Remediation, reclamation and mine closure costs are based principally on legal and regulatory requirements. Management estimates costs associated with reclamation of mining properties as well as remediation costs for inactive properties. The Company uses assumptions about future costs, capital costs and reclamation costs. Such assumptions are based on the Company’s current mining plan and the best available information for making such estimates. In calculating the present value of the asset retirement obligation the Company used a credit-adjusted risk free interest rate of 10% and a projected mine life of 12 years. On an ongoing basis, management revaluates its estimates and assumptions; however, actual amounts could differ from those based on such estimates and assumptions.
	Changes to the Company’s asset retirement obligation on its Palmetto Point project are as follows:

		October 31,	October 31,
		2013	2012
Asset retirement obligation – beginning balance	$	59,245	-
Incurred		-	59,245
Asset retirement obligation – ending balance
		59,245	59,245

8. Related Party Transactions

(a)	For the year ended October 31, 2013, the Company paid / accrued $96,000 to CAB Financial Services Ltd “CAB” (2012: $96,000), Tom Ihrke, the VP of business development, $120 (2012: $7,908), and BKB Management Ltd. (“BKB”) CAD$66,000 (2012: CAD$66,000) for management, consulting and accounting services. CAB is owned by the president of the Company and BKB is owned by the CFO of the Company.
	The related party transactions are recorded at the exchange amount established and agreed to between the related parties.
(b)	On October 27, 2008 the Company entered a secured loan agreement in the amount of CAD$300,000 with CAB (See Note 7f). On July 10, 2009 $40,000 of the debt was converted to equity. On October 21, 2010, the Company settled a portion of the debt, namely US$1,625 with CAB by converting 65,000 warrants into 32,500 common shares of the Company as per Purchase Agreement dated October 27, 2008 at a price of $0.05 per share. On June 28, 2011, the Company paid down CAD $100,000 of the debt. For the year ended October 31, 2013, the Company paid interest expenses of CAD $20,835 (2012: CAD$27,275).
(c)	On October 27, 2008 the Company entered a secured loan agreement in the amount of CAD$400,000 with Christopher Bunka (See Note 7f). On October 21, 2010, the Company settled a portion of the debt, namely $2,167 with Christopher Bunka by converting 86,667 warrants into 43,333 common shares of the Company as per Purchase Agreement dated October 27, 2008 at a price of $0.05 per share. For the year ended October 31, 2013, the Company paid interest expenses of CAD $65,643 (2012: CAD$71,610).
(d)	On April 1, 2010, the Company entered a non-secured loan agreement in the amount of US$75,000 with CAB (See Note 6a). For the year ended October 31, 2013, the Company paid interest expenses of $11,250 (2012: $13,500).
(e)	On March 30, 2012, the Company entered a non-secured loan agreement in the amount of US$50,000 with Chris Bunka. For the year ended October 31, 2013, the Company incurred interest expenses of $5,500 (2012: $3500).
(f)	On July 20, 2012, the Company entered a non-secured loan agreement in the amount of US$50,000 with Chris Bunka. For the year ended October 31, 2013, the Company incurred interest expenses of $1,875 (2012: $1,556) and paid the full principal of $50,000 (2012: $Nil) .
(g)	On December 1, 2011, the Company entered into a secured loan agreement in the amount of $200,000 with two directors of the Company (see Note 6c, g). This loan agreement was amended for another year to repay the debt in twelve equal monthly principal payment, plus interest on the monthly declining balances. The interest rates of the amendment debt are the same as the existing debt agreement. For the year ended October 31, 2013, the Company paid/accrued interest expense of $34,667 (2012: $22,000).
(h)	Included in accounts payable, $89,540 (2012: $55,011) and other payable, $34,410 (2012: Nil) was payable to companies controlled by the president, key management personnel and directors of the Company. Included in other receivable, $21,363 was receivable from companies controlled by the president, key management personnel and directors of the Company.
(i)	For the year ended October 31, 2013, the Company has paid/accrued $15,866 (2012: $67,377) to Kelowna Resources Group formerly known as 0743608 BC Ltd.; $6,669 (2012:$28,323) to Emerald Atlantic LLC; and, $1,880 to Tom Ihrke (2012: $6,796) for their respective Non-consent Interests in Belmont Lake. Kelowna Resources Group, formerly known as 0743608 BC Ltd., is owned by the president of the Company, and Emerald Atlantic LLC is owned by a Director of the Company.

(j) See Note 5 and 6.

9.	Stock Options
	On June 18, 2013, the Company granted 500,000 stock options to officers, directors and consultants of the Company with an exercise price of $0.10, vested immediately, expiring June 18, 2018.
	For the year ended October 31, 2013, the Company recorded a total of $21,279 (2012: $11,336) for stock based compensation expenses.
	The fair value of each option granted has been estimated as of the date of the grant using the Black-Scholes option pricing model with the following assumptions:

	Year ended October 31, 2013	Year ended October 31, 2012
Expected volatility	142.25%	129.14%-152.92%
Risk-free interest rate	1.83%	2.75%
Expected life	5 years	5 years
Dividend yield	0.0%	0.0%

A summary of the stock options for the year ended October 31, 2013 is presented below:

	Options Outstanding
				Weighted Average
	Number of Shares			Exercise Price
Balance, October 31, 2011	1,700,000		$	0.26
Granted	65,000			0.25
Expired	(65,000	)		0.30
Balance, October 31, 2012	1,700,000		$	0.26
Granted	500,000			0.10
Balance, October 31, 2013	2,200,000		$	0.23

The Company has the following options outstanding and exercisable:

October 31, 2013		Options outstanding			Options exercisable
Range of Exercise	Number of	Weighted average		Weighted average	Number of		Weighted average
prices	shares	remaining contractual life		exercise price	shares		exercise price
$0.20	150,000	1.79 years	$	0.20	150,000	$	0.20
$0.20	850,000	1.22 years	$	0.20	850,000	$	0.20
$0.35	700,000	2.70years	$	0.35	700,000	$	0.35
$0.10	500,000	4.63 years	$	0.10	500,000	$	0.10
Total	2,200,000	2.50 years	$	0.23	2,200,000	$	0.23

10.	Commitments, Significant Contracts and Contingencies
	On November 27, 2008, the Company entered into a Consulting Agreement with CAB Financial Services Ltd. for consulting services of CAB on a continuing basis for a consideration of US$8,000 per month plus GST.
	On May 12, 2009 the Company entered into a consulting agreement with BKB Management Ltd. to act as the Chief Financial Officer and a Director for an initial period of six months for consideration of CAD $4,500 per month plus GST. This agreement replaces the September 1, 2008, Controller Agreement with CAB Financial Services Ltd. Subsequent to October 31, 2010, effective January 1, 2011, the consideration was increased to CAD$5,500 per month plus GST/HST.
	On August 5, 2010 we entered into a three-month Management agreement with Tom Ihrke, whereby Mr. Ihrke will act as the Senior Vice-President, Business Development for the Company for consideration of $3,125 per month. On December 2, 2010, the Company entered into a month to month management agreement with Tom Ihrke, where by Mr. Ihrke will continue to act as the Senior Vice-President Business Development for the Company. On October 3, 2011 Mr. Ihrke and the Company amended the agreement whereby his title changed to Manager, Business Development. The Company will pay a monthly consulting fee of $3,125. Effective January 15, 2012, the consulting agreement has been decreased to $10 a month.
	On July 1, 2013, the Company entered into a 2 year lease for the Kelowna office with monthly rental rate of $1,652 including GST.
	See also Note 5 and 6.
11.	Income Tax
	The Company is subject US tax laws. The following table reconciles the expected income taxes expense (recovery) at the US statutory income tax rates to the amounts recognized in the consolidated statements of operations for the years ended October 31, 2013 and 2012:

		2013			2012
Income (loss) before taxes	$	(343,549	)	$	(251,510	)
Statutory tax rate		34%			35%
Expected income tax (recovery)	$	(116,807	)	$	(88,029	)
Non-deductible items	$	132		$	7,081
Change in estimates	$	0		$	(58,748	)
Change in enacted tax rate	$	44,225		$	0
Change in valuation allowance	$	72,449		$	139,696
Total income taxes (recovery)	$	Nil		$	Nil

Deferred income taxes reflect the tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes. Deferred tax assets (liabilities) at October 31, 2013 and 2012 are comprised of the following:

		2013			2012
Net capital loss carryforwards	$	1,620,320		$	1,548,213
Financial instrument	$			$	(341	)
	$	1,620,320		$	1,547,871
Valuation allowance	$	(1,620,320	)	$	(1,547,871	)
Net deferred tax assets (liabilities)	$	Nil		$	Nil

The Company has net operating loss carryforwards of approximately $4,783,000 which may be carried forward to apply against future year income tax for US tax purposes.

Year		Amount
2025	$	76,000
2026		508,000
2027		1,056,000
2028		720,000
2029		753,000
2030		552,000
2031		538,000
2032		220,000
2033		360,000
Total	$	4,783,000

	The deferred tax assets have not been recognized because at this stage of the Company’s development, it is not determinable that future taxable profit will be available against which the Company can utilize such deferred income tax assets.
12.	Segmented Information
	The Company’s business is considered as operating in one segment being the oil and gas in the United States, based upon the Company’s organizational structure, the way in which the operation is managed and evaluated, the availability of separate financial results and materiality considerations.
13.	Subsequent Events

a)	On November 1, 2013, Lexaria Corp. (the “Company”) entered into three separate assignment agreements with CAB Financial Services Ltd. solely owned by a Director/Officer of the Company; Emerald Atlantic LLC, solely owned by a Director of the Company, and a third party. (the “Assignees”), whereby the Assignees have paid a fee of US$305,894 to earn a 28.68% share of the Company’s perpetual 42% interest in a proposed 12-7 oil well to be drilled in Wilkinson County, Mississippi. As a result of the three assignment agreements, Lexaria receives a carried interest of 13.32% in these same rights and benefits. The Company assigns and transfers over to the Assignees, all proportionate rights, interest and benefits in the Assigned Perpetual Interest held by or granted to the Assignor in and to the Participation Agreement between the Company and Griffin.
b)	On November 1, 2013, Lexaria Corp (the “Company”) closed its first tranche of the private placement of 500,000 units at a price of $0.06 per unit for gross proceeds of $30,000. Each unit consisted of one common share in the capital of the Company and one full non-transferable share purchase warrant, each full warrant entitling the holder to purchase one additional common share in the capital of the Company until November 1, 2015, at a purchase price of $0.10 per share.
c)	On November 13, 2013 the Company refinanced and extended repayment terms on all debt that was otherwise due to mature in December 2013 with CAB Financial Services Ltd., David DeMartini, Emerald Atlantic LLC, and other debt holders of the Company.

d) On December 4, 2013, the Company entered into a loan agreement and promissory note with Chris Bunka (the “Lender”), a director and officer of our company. The principal amount of the note is CAD$51,507.50. The entering into of the loan agreement and promissory note provides that the principal and interest on the debt be payable for a period of fifteen months. The note has an interest rate of 15% per annum and a monthly principal payment of $4,292 starting after the third month.

14.	Supplemental Information On Natural Gas and Oil Exploration, Development and Production Activities (Unaudited):
	Standardized measure of discounted future net cash flows relating to proved oil and gas reserve quantities:
	The following summarizes the policies we used in the preparation of the accompanying natural gas and oil reserve disclosures, standardized measures of discounted future net cash flows from proved natural gas and oil reserves and the reconciliations of standardized measures from year to year. The information disclosed, as prescribed by the Statement of Financial Accounting Standards No. 69 (ASC 932), is an attempt to present the information in a manner comparable with industry peers.
	The information is based on estimates of proved reserves attributable to our interest in natural gas and oil properties as of October 31, 2013. These estimates were prepared by independent petroleum consultants. Proved reserves are estimated quantities of natural gas and crude oil which geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions.
	The standardized measure of discounted future net cash flows from production of proved reserves was developed as follows:

1.	Estimates are made of quantities of proved reserves and future periods during which they are expected to be produced based on year-end economic conditions.
2.	The estimated future cash flows are compiled by applying year-end prices of natural gas and oil relating to our proved reserves to the year-end quantities of those reserves.
3.	The future cash flows are reduced by estimated production costs, costs to develop and produce the proved reserves and abandonment costs, all based on year-end economic conditions.
4.	Future net cash flows are discounted to present value by applying a discount rate of 10%.

The standardized measure of discounted future net cash flows does not purport, nor should it be interpreted, to present the fair value of our natural gas and oil reserves. An estimate of fair value would also take into account, among other things, the recovery of reserves not presently classified as proved, anticipated future changes in prices and costs, and a discount factor more representative of the time value of money and the risks inherent in reserve estimates.

The standardized measure of discounted future net cash flows relating to proved natural gas and oil reserves is as follows:

	USD$
Future cash inflows	15,301,046
Future production costs	(5,351,109	)
Future development costs	(1,131,516	)
Future net cash flows - undiscounted	8,818,421
10% annual discount for estimated timing of cash flows	(2,832,552	)
Standardized measure of discounted future net cash flows	5,985,869

Year-end price per Bbl of oil used in making standardized measure determinations as of October 31, 2013 was $106.22.

Estimated Net quantities of Natural Gas and Oil Reserves:

The following table sets forth our proved reserves, including changes, and proved developed reserves at the end of October 31, 2013.

			Natural	Crude Oil
	Crude Oil		Gas	Equivalents
	(MBbls)		(MMcf)	(MBbls)
Proved reserves:
Beginning of the year reserve	139.04		-	139.04
Adjustments of reserves in place	20.89		-	20.89
Productions	(15.88	)	-	(15.88	)
End of year reserves	144.05		-	144.05
Proved developed reserves:
Beginning of the year reserve	56.14		-	56.14
Adjustments of reserves in place	34.02		-	34.02
Productions	(15.88	)	-	(15.88	)
End of year reserves	74.28		-	74.28

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

There were no disagreements related to accounting principles or practices, financial statement disclosure, internal controls or auditing scope or procedure during the two fiscal years and interim periods, including the interim period up through the date the relationship ended.

Item 9A. Controls and Procedures

Management’s Report on Disclosure Controls and Procedures

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our reports filed under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms, and that such information is accumulated and communicated to our management, including our president and chief executive officer (also our principal executive officer) and our chief financial officer (also our principal financial and accounting officer) to allow for timely decisions regarding required disclosure.

As of October 31, 2013, the end of our fiscal year covered by this report, we carried out an evaluation, under the supervision and with the participation of our president and chief executive officer (also our principal executive officer) and our chief financial officer (also our principal financial and accounting officer), of the effectiveness of the design and operation of our disclosure controls and procedures. Based on the foregoing, our president and chief executive officer (also our principal executive officer) and our chief financial officer (also our principal financial and accounting officer) concluded that our disclosure controls and procedures were effective as of the end of the period covered by this annual report.

Management’s Report on Internal Control over Financial Reporting

Our management is responsible for establishing and maintaining adequate internal control over financial reporting. Responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of control procedures. The objectives of internal control include providing management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management’s authorization and recorded properly to permit the preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States. Our management assessed the effectiveness of our internal control over financial reporting as of October 31, 2013. In making this assessment, our management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) in Internal Control-Integrated Framework. Our management has concluded that, as of October 31, 2013, our internal control over financial reporting is effective in providing reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with US generally accepted accounting principles. Our management reviewed the results of their assessment with our Board of Directors.

This annual report does not include an attestation report of our company’s registered public accounting firm regarding internal control over financial reporting. Management’s report was not subject to attestation by our Company’s registered public accounting firm pursuant to temporary rules of the Securities and Exchange Commission that permit our Company to provide only management’s report in this annual report.

Inherent limitations on effectiveness of controls

Internal control over financial reporting has inherent limitations which include but is not limited to the use of independent professionals for advice and guidance, interpretation of existing and/or changing rules and principles, segregation of management duties, scale of organization, and personnel factors. Internal control over financial reporting is a process which involves human diligence and compliance and is subject to lapses in judgment and breakdowns resulting from human failures. Internal control over financial reporting also can be circumvented by collusion or improper management override. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements on a timely basis, however these inherent limitations are known features of the financial reporting process and it is possible to design into the process safeguards to reduce, though not eliminate, this risk. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation. Projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Changes in Internal Control over Financial Reporting

There have been no changes in our internal controls over financial reporting that occurred during the year ended October 31, 2013 that have materially or are reasonably likely to materially affect, our internal controls over financial reporting.

Item 9B. Other Information

None.

PART III

Item 10. Directors, Executive Officers and Corporate Governance

All directors of our company hold office until the next annual meeting of the security holders or until their successors have been elected and qualified. The officers of our company are appointed by our board of directors and hold office until their death, resignation or removal from office. Our directors and executive officers, their ages, positions held, and duration as such, are as follows:

Name	Position Held with our Company	Age	Date First Elected Or Appointed
Christopher Bunka	Chairman, Director and Chief Executive Officer	52	October 26, 2006 February 14, 2007
Bal Bhullar	Chief Financial Officer and Director	44	May 12, 2009
David DeMartini	Director	71	September 8, 2009
Dustin Elford	Director	67	July 8, 2011
Nicholas Baxter	Director	60	July 8, 2011
Tom Ihrke	Vice President, Business Development	47	August 5, 2011

Business Experience

The following is a brief account of the education and business experience of each director and executive officer during the past five years, indicating each person's principal occupation during the period, and the name and principal business of the organization by which he was employed.

Mr. Christopher Bunka – Chairman, Chief Executive Officer and Director

Mr. Bunka has served as our director, chairman, president and chief executive officer since October 26, 2006. From February 14, 2007 until May 12, 2009 he was the chief financial officer of our company. Since October 26, 2006 Mr. Bunka has successfully completed both equity and debt financings for our company, completed the acquisition of additional oil & gas assets, disposed of other oil & gas assets, and restructured our company. He has refocused our company from one of natural gas exploration to that of development of existing oil reserves, and has engaged additional geophysical expertise in an attempt to better understand its exploration and development opportunities. Mr. Bunka has privately evaluated numerous oil and gas properties and investment opportunities for his private investments during the past 10 years.

Since 1988, Mr. Bunka has been the CEO of CAB Financial Services Ltd., a private holding company located in Kelowna, Canada. He is a venture capitalist and corporate consultant.

Mr Bunka is Chairman/CEO of Enertopia Corp, (symbol ENRT-OTC) a clean energy company. Mr. Bunka is a director of Defiance Capital Corp., (symbol DEF-TSXV) a Canadian resource company.

Ms. Bal Bhullar - Chief Financial Officer and Director

Ms. Bhullar brings over 20 years of diversified financial and risk management experience in both private and public companies, in the industries of high-tech, film, mining, marine, oil & gas, energy, transport, and spa industries.

Among some of the areas of experience, Ms. Bhullar brings expertise in financial & strategic planning, operational & risk management, regulatory compliance reporting, business expansion, start-up operations, financial modeling, program development, corporate financing, and corporate governance/internal controls.

Previously, Ms. Bhullar has held various positions as President of BC Risk Management Association of BC, and served as Director and CFO of private and public companies. Currently, Ms. Bhullar serves as a Director and CFO for Bare Elegance Medspa, CFO for public company Enertopia Corp (symbol ENRT-OTC; TOP-CNSX) and former CFO for ISEE3D Inc. (symbol ICT-TSXV).

Ms. Bhullar is a Certified General Accountant and as well holds a CRM designation from Simon Fraser University and a diploma in Financial Management from British Columbia Institute of Technology.

Mr. David DeMartini - Director

Dr. DeMartini received a B.S. Physics cum laude at the University of Notre Dame in 1963; and a PhD Physics at Ohio State University in 1969. He is the author of 19 public technical publications and 78 publications that are proprietary to Shell Oil Company. He has served as a Research Advisor at Shell Development Company at the Bellaire Research Center in Houston; a Senior Staff Supervisor; and a Senior Staff Geophysicist. He has belonged to the Society of Exploration Geophysicists from 1970 to present and was inducted to the Offshore Energy Center Hall of Fame as a Technology Pioneer on September 30, 2006. He has made significant contributions in the fields of rock physics theory and applications; seismic amplitude interpretation, borehole geophysics, and more. Dr. DeMartini was professionally engaged by the Company in 2007 as a consulting geophysicist to assist in interpretations of seismic data at its Mississippi properties, and has been a director of the Company since September 9, 2009.

Mr. Dustin Elford - Director

Mr. Elford has been in the oil & gas and mineral exploration businesses for 30 years. He has extensive experience in the development and financing of projects in many areas of North America, South America and Africa. Mr. Elford is currently President of AMI Resources Inc; President of Midasco Capital Corp; and a former President of Dejour Enterprises Ltd.

Mr. Nicholas Baxter - Director

Mr. Baxter has been in the oil & gas business for 30 years. Mr. Baxter received a Bachelor of Science (Honors) from the University of Liverpool in 1975. Mr. Baxter has worked on geophysical survey and exploration projects in the U.K., Europe, Africa and the Middle East. From 1981 to 1985, Mr. Baxter worked for Resource Technology plc, a geophysical equipment sales/services company that went public on the USM in London in 1983 and graduated to the London Stock Exchange in 1984. Mr. Baxter established his own company in 1985 as a co-founder of Addison & Baxter Limited, a private geophysical/geological sales and services company which was acquired by A&B Geoscience Corporation in 1992. Mr. Baxter was Chief Operating Officer and a director of A&B Geoscience Corporation from 1992 to 2002. Mr. Baxter worked as an independent upstream oil and gas consultant from 2002 to 2004. He joined Eurasia Energy Ltd in 2005, where he is currently President and Chief Executive Officer.

Mr. Tom Ihrke – Vice President, Business Development

Tom Ihrke recently sold his General Partner interest in Commissum Capital Management, a capital management and advisory firm which he co-founded in 2001. During his tenure at Commissum, Tom served as portfolio manager and trader of the firm's investment fund, while also being retained as a consultant by several companies, including Lexaria, to advise on such matters as capital structure, accessing the capital markets, and mergers and acquisitions. Between 1993 and 2001 Tom worked for Morgan Keegan and Company as Senior Investment Banker in the firm's Financial Institution's Group, and prior to that as Senior Trader and Market Maker, overseeing the firm's proprietary trading of financial and energy shares. From 1990 to 1991 Tom traded commodities for his own account as a floor trader on the Chicago Board of Trade, owning a seat on the Mid-America Commodities Exchange. Tom earned his Bachelor of Science at Texas Christian University in 1989, and received his Masters of Business Administration at the University of Tennessee in 1993.

Family Relationships

There are no family relationships between any of our directors, executive officers and proposed directors or executive officers.

Involvement in Certain Legal Proceedings

None of our directors, executive officers, promoters or control persons has been involved in any of the following events during the past five years:

1. A petition under the Federal bankruptcy laws or any state insolvency law was filed by or against, or a receiver, fiscal agent or similar officer was appointed by a court for the business or property of such person, or any partnership in which he was a general partner at or within two years before the time of such filing, or any corporation or business association of which he was an executive officer at or within two years before the time of such filing;

2. Such person was convicted in a criminal proceeding or is a named subject of a pending criminal proceeding (excluding traffic violations and other minor offenses);

3. Such person was the subject of any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining him from, or otherwise limiting, the following activities:

i.	Acting as a futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant, any other person regulated by the Commodity Futures Trading Commission, or an associated person of any of the foregoing, or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director or employee of any investment company, bank, savings and loan association or insurance company, or engaging in or continuing any conduct or practice in connection with such activity
ii.	Engaging in any type of business practice; or
iii.	Engaging in any activity in connection with the purchase or sale of any security or commodity or in connection with any violation of Federal or State securities laws or Federal commodities laws;

4. Such person was the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any Federal or State authority barring, suspending or otherwise limiting for more than 60 days the right of such person to engage in any activity described in paragraph (f)(3)(i) of this section, or to be associated with persons engaged in any such activity;

5. Such person was found by a court of competent jurisdiction in a civil action or by the Commission to have violated any Federal or State securities law, and the judgment in such civil action or finding by the Commission has not been subsequently reversed, suspended, or vacated;

6. Such person was found by a court of competent jurisdiction in a civil action or by the Commodity Futures Trading Commission to have violated any Federal commodities law, and the judgment in such civil action or finding by the Commodity Futures Trading Commission has not been subsequently reversed, suspended or vacated;

7. Such person was the subject of, or a party to, any Federal or State judicial or administrative order, judgment, decree, or finding, not subsequently reversed, suspended or vacated, relating to an alleged violation of:

i.	Any Federal or State securities or commodities law or regulation; or
ii.	Any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal or prohibition order; or
iii.	Any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity; or

8. Such person was the subject of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization (as defined in Section 3(a)(26) of the Exchange Act (15 U.S.C. 78c(a)(26))), any registered entity (as defined in Section 1(a)(29) of the Commodity Exchange Act (7 U.S.C. 1(a)(29))), or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated with a member.

Compliance with Section 16(a) of the Securities Exchange Act of 1934

Section 16(a) of the Securities Exchange Act of 1934 requires our executive officers and directors and persons who own more than 10% of our common stock to file with the Securities and Exchange Commission initial statements of beneficial ownership, reports of changes in ownership and annual reports concerning their ownership of our common stock and other equity securities, on Forms 3, 4 and 5 respectively. Executive officers, directors and greater than 10% shareholders are required by the SEC regulations to furnish us with copies of all Section 16(a) reports that they file.

Based solely on our review of the copies of such forms received by us, or written representations from certain reporting persons, we believe that during fiscal year ended October 31, 2010, all filing requirements applicable to our officers, directors and greater than 10% percent beneficial owners were complied with.

Code of Ethics

We adopted a Code of Ethics applicable to our senior financial officers and certain other finance executives, which is a "code of ethics" as defined by applicable rules of the SEC. Our Code of Ethics is attached as an exhibit to our Form SB-2 filed on September 20, 2007. If we make any amendments to our Code of Ethics other than technical, administrative, or other non-substantive amendments, or grant any waivers, including implicit waivers, from a provision of our Code of Ethics to our chief executive officer, chief financial officer, or certain other finance executives, we will disclose the nature of the amendment or waiver, its effective date and to whom it applies in a Current Report on Form 8-K filed with the SEC.

Board and Committee Meetings

Our board of directors held no formal meetings during the year ended October 31, 2013. All proceedings of the board of directors were conducted by resolutions consented to in writing by all the directors and filed with the minutes of the proceedings of the directors. Such resolutions consented to in writing by the directors entitled to vote on that resolution at a meeting of the directors are, according to the Nevada General Corporate Law and our Bylaws, as valid and effective as if they had been passed at a meeting of the directors duly called and held.

Nomination Process

As of October 31, 2013, we did not effect any material changes to the procedures by which our shareholders may recommend nominees to our board of directors. Our board of directors does not have a policy with regards to the consideration of any director candidates recommended by our shareholders. Our board of directors has determined that it is in the best position to evaluate our company’s requirements as well as the qualifications of each candidate when the board considers a nominee for a position on our board of directors. If shareholders wish to recommend candidates directly to our board, they may do so by sending communications to the president of our Company at the address on the cover of this annual report.

Audit Committee and Audit Committee Financial Expert

Currently our audit committee consists of our entire board of directors. We currently do not have nominating, compensation committees or committees performing similar functions. There has not been any defined policy or procedure requirements for shareholders to submit recommendations or nomination for directors.

Our board of directors has determined that it does not have a member of its board of directors (audit committee) that qualifies as an "audit committee financial expert" as defined in Item 407(d)(5)(ii) of Regulation S-K, and is "independent" as the term is used in Item 7(d)(3)(iv) of Schedule 14A under the Securities Exchange Act of 1934, as amended.

We believe that the members of our board of directors are collectively capable of analyzing and evaluating our financial statements and understanding internal controls and procedures for financial reporting. We believe that retaining an independent director who would qualify as an "audit committee financial expert" would be overly costly and burdensome and is not warranted in our circumstances given the early stages of our development and the fact that we have not generated any material revenues to date. In addition, we currently do not have nominating, compensation or audit committees or committees performing similar functions nor do we have a written nominating, compensation or audit committee charter. Our board of directors does not believe that it is necessary to have such committees because it believes the functions of such committees can be adequately performed by our board of directors.

Item 11. Executive Compensation

The particulars of the compensation paid to the following persons:

• our principal executive officer;
• each of our two most highly compensated executive officers who were serving as executive officers at the end of the years ended October 31, 2013 and 2012; and
• up to two additional individuals for whom disclosure would have been provided under (b) but for the fact that the individual was not serving as our executive officer at the end of the years ended October 31, 2013 and 2013,

who we will collectively refer to as the named executive officers of our Company, are set out in the following summary compensation table, except that no disclosure is provided for any named executive officer, other than our principal executive officers, whose total compensation did not exceed $100,000 for the respective fiscal year:

SUMMARY COMPENSATION TABLE
Name and Principal Position	Year	Salary ($)	Bonus ($)	Stock Awards ($)	Option Awards ($)(3)	Non-Equity Incentive Plan Compensa tion ($)	Nonqualified Deferred Compensation Earnings ($)	All Other Compensa - tion ($)	Total ($)
Christopher Bunka(1) , President, Chief Executive Officer, &	2013 2012	96,000 96,000	Nil Nil	Nil Nil	9,585 Nil	Nil Nil	Nil Nil	Nil Nil	105,585 96,000
Bal Bhullar(2) , Chief Financial Officer	2013 2012	66,000 66,000	Nil Nil	Nil Nil	7,455 Nil	Nil Nil	Nil Nil	Nil Nil	73,455 66,000

(1)	Mr. Bunka was appointed president and chief executive officer on October 26, 2006, and was chief financial officer of our company from February 14, 2007 until May 12, 2009.
(2)	Ms. Bhullar was appointed Chief Financial Officer on May 12, 2009
(3)	The fair value of the option award was estimated using the Black-Scholes pricing model with the following assumptions: expected volatility of 142.25%, risk–free interest rate of 1.93%, expected life of 5 years, and dividend yield of 0.0%.

Our company is currently paying/accruing consulting fees to our president $8,000 per month and is paying our Chief Financial Officer CAD$5,500 per month in consulting fees.

Employment/Consulting Agreements

On November 27, 2008, the Company entered into a Consulting Agreement with CAB Financial Services Ltd., a corporation organized under the laws of the Province of British Columbia and controlled by our chief executive officer, for consulting services of CAB on a continuing basis for a consideration of US$8,000 per month plus GST.

On May 12, 2009, we entered into a consulting agreement with BKB Management Ltd, a corporation organized under the laws of the Province of British Columbia and controlled by ourchief financial officer. A consulting fee of CAD$4,675 including applicable taxes is paid per month. We may terminate this agreement without prior notice based on a number of conditions. BKB Management Ltd. may terminate the agreement at any time by giving 30 days written notice of his intention to do so. On January 1, 2011, the compensation was increased to CAD$5,500 per month plus applicable taxes.

Other than as set out in this annual report on Form 10-K we have not entered into any employment or consulting agreements with any of our current officers, directors or employees.

Grants of Plan-Based Awards Table

We did not grant any awards to our named executive officers in the during our fiscal year ended October 31, 2013.

Outstanding Equity Awards at Fiscal Year End

The particulars of unexercised options, stock that has not vested and equity incentive plan awards for our named executive officers are set out in the following table:

OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END
	OPTION AWARDS					STOCK AWARDS
Name (a)	Number of Securities Underlying Unexercised Options (#) Exercisable (b)	Number of Securities Underlying Unexercised Options (#) Unexercisable (c)	Equity Incentive Plan Awards: Number of Securities Underlying Unexercised Unearned Options (#) (d)	Option Exercise Price ($) (e)	Option Expiration Date (f)	Number of Shares or Units of Stock That Have Not Vested (#) (g)	Market Value of Shares or Units of Stock That Have Not Vested ($) (h)	Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) (i)	Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested (#) (j)
Christopher Bunka	500,000 200,000 225,000	- -	- -	$0.20 $0.35 $0.10	2015/01/20 2016/07/11 2018/06/18	- -	- -	- -	- -
Bal Bhullar	300,000 100,000 175,000	- -	- -	$0.20 $0.35 $0.10	2015/01/20 2016/07/11 2018/06/18	- -	- -	- -	- -
David DeMartini	100,000 50,000	- -	- -	$0.35 $0.10	2016/07/11 2018/06/18	- -	- -	- -	- -

Option Exercises

During our fiscal year ended October 31, 2013, no options were exercised by our named officers.

Compensation of Directors

We do not have any agreements for compensating our directors for their services in their capacity as directors, although such directors are expected in the future to receive stock options to purchase shares of our common stock as awarded by our board of directors.

Pension, Retirement or Similar Benefit Plans

There are no arrangements or plans in which we provide pension, retirement or similar benefits for directors or executive officers. We have no material bonus or profit sharing plans pursuant to which cash or non-cash compensation is or may be paid to our directors or executive officers, except that stock options may be granted at the discretion of the board of directors or a committee thereof.

Indebtedness of Directors, Senior Officers, Executive Officers and Other Management

None of our directors or executive officers or any associate or affiliate of our company during the last two fiscal years is or has been indebted to our company by way of guarantee, support agreement, letter of credit or other similar agreement or understanding currently outstanding.

Compensation Committee Interlocks and Insider Participation

During 2013, we did not have a compensation committee or another committee of the board of directors performing equivalent functions. Instead the entire board of directors performed the function of compensation committee. Our board of directors approved the executive compensation, however, there were no deliberations relating to executive officer compensation during 2013.

Compensation Committee Report

None.

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

The following table sets forth, as of January 7, 2013, certain information with respect to the beneficial ownership of our common shares by each shareholder known by us to be the beneficial owner of more than 5% of our common shares, as well as by each of our current directors and executive officers as a group. Each person has sole voting and investment power with respect to the shares of common stock, except as otherwise indicated. Beneficial ownership consists of a direct interest in the shares of common stock, except as otherwise indicated.

Name and Address of Beneficial Owner	Amount and Nature of Beneficial Ownership	Percentage of Class
Christopher Bunka Kelowna BC Canada	5,632,897 (1)	31.55%
Bal Bhullar Vancouver, BC	616,250 (2)	3.52%
David DeMartini, Texas, Houston	3,431,250(3)	19.97%
Dustin Elford Vancouver, BC	150,000(4)	.88%
Nicholas Baxter Aberdeenshire, UK	150,000(5)	.88%
Directors and Executive Officers as a Group (5 persons) (6)	9,930,397	56.79%

* Less than 1%.

(1) Includes 3,219,336 shares held in the name of C.A.B. Financial Services and 1,488,561 shares held directly by Chris Bunka. Includes 285,714 convertible debt warrants held in the name of C.A.B. Financial Services. Includes 925,000 options which are exercisable at $0.20, $0.35, and $0.10 within 60 days of January 7, 2014.

(2) Includes 575,000 options which are exercisable at $0.20, $0.35, and $0.10 within 60 days January 7, 2014.

(3) Includes 150,000 options which are exercisable at $0.35 and $0.10 within 60 days of January 7, 2014.

(4) Includes 150,000 options which are exercisable at $0.35 within 60 days of January 7, 2014.

(5) Includes 150,000 options which are exercisable at $0.35 within 60 days of January 7, 2014.

(6) Under Rule 13d-3, a beneficial owner of a security includes any person who, directly or indirectly, through any contract, arrangement, understanding, relationship, or otherwise has or shares: (i) voting power, which includes the power to vote, or to direct the voting of shares; and (ii) investment power, which includes the power to dispose or direct the disposition of shares. Certain shares may be deemed to be beneficially owned by more than one person (if, for example, persons share the power to vote or the power to dispose of the shares). In addition, shares are deemed to be beneficially owned by a person if the person has the right to acquire the shares (for example, upon exercise of an option) within 60 days of the date as of which the information is provided. In computing the percentage ownership of any person, the amount of shares outstanding is deemed to include the amount of shares beneficially owned by such person (and only such person) by reason of these acquisition rights. As a result, the percentage of outstanding shares of any person as shown in this table does not necessarily reflect the person’s actual ownership or voting power with respect to the number of shares of common stock actually outstanding on January 12, 2014. As of January 12, 2014, there were 16,931,452 shares of our common stock issued and outstanding.

Changes in Control

We are unaware of any contract or other arrangement the operation of which may at a subsequent date result in a change in control of our company.

Item 13. Certain Relationships and Related Transactions, and Director Independence

Except as disclosed herein, no director, executive officer, shareholder holding at least 5% of shares of our common stock, or any family member thereof, had any material interest, direct or indirect, in any transaction, or proposed transaction since the year ended October 31, 2013, in which the amount involved in the transaction exceeded or exceeds the lesser of $120,000 or one percent of the average of our total assets at the year end for the last three completed fiscal years.

Director Independence

We currently act with five (5) directors, consisting of Christopher Bunka, Bal Bhullar, David DeMartini, Dustin Elford and Nicholas Baxter. We have determined that Dustin Elford and Nicholas Baxter are each an “independent director” as defined in NASDAQ Marketplace Rule 4200(a)(15).

Currently our audit committee consists of our entire board of directors. We currently do not have nominating, compensation committees or committees performing similar functions. There has not been any defined policy or procedure requirements for shareholders to submit recommendations or nomination for directors.

Our board of directors has determined that it does not have a member of its audit committee who qualifies as an “audit committee financial expert” as defined in as defined in Item 407(d)(5)(ii) of Regulation S-K.

From inception to present date, we believe that the members of our audit committee and the board of directors have been and are collectively capable of analyzing and evaluating our financial statements and understanding internal controls and procedures for financial reporting.

We do not have a standing compensation or nominating committee, but our entire board of directors act in such capacity. We believe that our directors are capable of analyzing and evaluating our financial statements and understanding internal controls and procedures for financial reporting. Our directors do not believe that it is necessary to have an audit committee because we believe that the functions of an audit committee can be adequately performed by the board of directors. In addition, we believe that retaining additional independent directors who would qualify as an “audit committee financial expert” would be overly costly and burdensome and is not warranted in our circumstances given the early stages of our development.

Item 14. Principal Accounting Fees and Services

The aggregate fees billed for the most recently completed fiscal year ended October 31, 2013 and for fiscal year ended October 31, 2012 for professional services rendered by the principal accountant for the audit of our annual financial statements and review of the financial statements included in our quarterly reports on Form 10-Q and services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for these fiscal periods were as follows:

	Year Ended
	October 31, 2013	October 31, 2012
Audit Fees	30,080	22,268
Audit Related Fees	9,341	16,386
Tax Fees	Nil	Nil
All Other Fees	Nil	Nil
Total	39,421	38,654

Audit Fees. Audit fees consist of fees billed for professional services rendered for the audits of our financial statements, reviews of our interim financial statements included in quarterly reports, services performed in connection with filings with the Securities and Exchange Commission and related comfort letters and other services that are normally provided by MNP LLP for the fiscal years ended October 31, 2013. and October 31, 2012 in connection with statutory and regulatory filings or engagements.

Audit related Fees. There were $9,341 audit related fees paid toMNP LLP for the fiscal year ended October 31, 2013 and $16,386 for the fiscal year ended October 31, 2012.

Tax Fees. Tax fees consist of fees billed for professional services for tax compliance, tax advice and tax planning. These services include assistance regarding federal, state and local tax compliance and consultation in connection with various transactions and acquisitions. For the fiscal years ended October 31, 2013 and October 31, 2012, we did not use MNP LLP for non-audit professional services or preparation of corporate tax returns.

We do not use MNP LLP, for financial information system design and implementation. These services, which include designing or implementing a system that aggregates source data underlying the financial statements or generates information that is significant to our financial statements, are provided internally or by other service providers. We do not engage MNP LLP to provide compliance outsourcing services.

Effective May 6, 2003, the Securities and Exchange Commission adopted rules that require that before our independent auditors are engaged by us to render any auditing or permitted non-audit related service, the engagement be:

• approved by our audit committee (which consists of our entire board of directors); or
• entered into pursuant to pre-approval policies and procedures established by the board of directors, provided the policies and procedures are detailed as to the particular service, the board of directors is informed of each service, and such policies and procedures do not include delegation of the board of directors' responsibilities to management.

Our board of directors pre-approves all services provided by our independent auditors. All of the above services and fees were reviewed and approved by the board of directors either before or after the respective services were rendered.

Our board of directors has considered the nature and amount of fees billed by our independent auditors and believes that the provision of services for activities unrelated to the audit is compatible with maintaining our independent auditors’ independence.

PART IV

Item 15. Exhibits, Financial Statement Schedules

(a) Financial Statements

(1)	Financial statements for our Company are listed in the index under Item 8 of this document
(2)	All financial statement schedules are omitted because they are not applicable, not material or the required information is shown in the financial statements or notes thereto.

(b) Exhibits

Exhibit No.	Document Description
(3)	Articles of Incorporation and By-laws
3.1(1)	Articles of Incorporation (Incorporated by reference from Form SB-2 Registration Statement filed on March 1, 2006)
3.2(1)	Bylaws (Incorporated by reference from Form SB-2 Registration Statement filed on March 1, 2006)
3.3(9)	Amendments to Articles of Incorporation (Incorporated by reference from our current report on Form 8-K filed on June 23, 2009)
3.4(10)	Amended and restated Bylaws (Incorporated by reference from our current report on Form 8-K filed on December 22, 2009)
(10)	Material Contracts
10.2(1)	Griffin Model Form Operating Agreement (Incorporated by reference from Form SB-2 Registration Statement filed on March 1, 2006)
10.3(1)	Griffin Drilling Program Agreement (Incorporated by reference from Form SB-2 Registration Statement filed on March 1, 2006)
10.5(3)	Consulting Agreement with CAB Financial Services Ltd. (Incorporated by reference from our current report on Form 8-K filed)
10.6(4)	Agreement with Brink Resources (Incorporated by reference from our current report on Form 8-K filed on June 21, 2007)
10.7(4)	Agreement with 0743608 BC Ltd.
10.8(5)	Amended Agreement and Promissory Notes (Incorporated by reference from our current report on Form 8-K filed on October 22, 2010)
10.9(6)	Consulting Agreement with CAB Financial Services Ltd. (Incorporated by reference from our current report on Form 8-K filed on December 1, 2008)
10.10(7)	Agreement with Delta Oil & Gas, Inc. and The Stallion Group (Incorporated by reference from our current report on Form 8-K filed on April 7, 2009)
10.11(8)	Agreement with BKB Management Ltd. (Incorporated by reference from our current report on Form 8-K filed on May 19, 2009)
10.12(11)	Equity Compensation Plan 2007 (Incorporated by reference from our current report on Form S8 filed on May 7, 2007)
10.17(17)	Assignment Agreements and Loan Agreement (Incorporated by reference from our current report on Form 8-K filed on September 13, 2010)

10.18(18)	Consulting Agreement with Tom Ihrke (Incorporated by reference from our current report on Form 8-K filed on August 6, 2010)
10.19(19)	Equity Compensation Plan 2010 (Incorporated by reference from our current report on Form 8-K filed on January 21, 2010)
10.20(20)	Form of Convertible Debenture (Incorporated by reference from our current report on Form 8-K filed on November December 1, 2010)
10.21	Consulting Agreement with Tom Ihrke
14.1(14)	Code of Business Conduct and Ethics (Incorporated by reference from Form SB-2 Registration Statement filed on September 20, 2007)
(23)	Consents of experts and Counsel
23.1*	Consent of MNP LLP Chartered Accountants
(31)	Rule 13a-14(a)/15d-14(a)
31.1*	Section 302 Certifications under Sarbanes-Oxley Act of 2002 of Principal Executive Officer
31.2*	Section 302 Certifications under Sarbanes-Oxley Act of 2002 of Principal Financial Officer
(32)	Section 1350 Certifications
32.1*	Section 906 Certification under Sarbanes Oxley Act of 2002 of Principal Executive Officer
32.2*	Section 906 Certification under Sarbanes Oxley Act of 2002 of Principal Financial Officer
(99)	Exhibit No.
99.1(15)	Haas Reserve Reports (Incorporated by reference from our current report on Form 8-K filed on July 17, 2007)
99.2	Reserve Report
101.INS	XBRL Instance Document (Incorporated by reference from our annual report on Form 10-K filed on January 26, 2012)
101.SCH	XBRL Taxonomy Extension Schema Document (Incorporated by reference from our annual report on Form 10-K filed on January 26, 2012)
101. CAL	XBRL Taxonomy Extension Calculation Linkbase Document (Incorporated by reference from our annual report on Form 10-K filed on January 26, 2012)
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document (Incorporated by reference from our annual report on Form 10-K filed on January 26, 2012)
101.LAB	XBRL Taxonomy Extension Label Linkbase Document (Incorporated by reference from our annual report on Form 10-K filed on January 26, 2012)
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document (Incorporated by reference from our annual report on Form 10-K filed on January 26, 2012)

* Filed herewith.

SIGNATURES

In accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

LEXARIA CORP.

By: /s/ Christopher Bunka
Christopher Bunka
President, Chief Executive Officer, Chairman and Director
(Principal Executive Officer)

Date: January 24, 2014

By: /s/ Bal Bhullar
Bal Bhullar
Chief Financial Officer and Director
(Principal Financial Officer and Principal Accounting Officer)

Date: January 24, 2014

In accordance with the Exchange Act, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By: /s/ Christopher Bunka
Christopher Bunka
President, Chief Executive Officer, Chairman and Director
(Principal Executive Officer)

Date: January 24, 2014

By: /s/ Bal Bhullar
Bal Bhullar
Chief Financial Officer and Director
(Principal Financial Officer and Principal Accounting Officer)

Date: January 24, 2014

By: /s/ David DeMartini
David DeMartini
Director

EX-23.1

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We hereby consent to the use of our report dated January 24, 2014, with respect to the balance sheets of Lexaria Corp. as at October 31, 2013 and 2012 and the related statements of stockholders' equity and comprehensive income, operations and cash flows for the years then ended, included in the Annual Report on Form 10-K of Lexaria Corp. for the year ended October 31, 2013.

Vancouver, Canada
January 24, 2014	Chartered Accountants

EX-31.1

EXHIBIT 31.1

CERTIFICATION PURSUANT TO
18 U.S.C. ss 1350, AS ADOPTED PURSUANT TO
SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Chris Bunka, certify that:

1.	I have reviewed this Annual Report on Form 10-K of Lexaria Corp.;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.	The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
	a.	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
	b.	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
	c.	Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
	d.	Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.	The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
	a.	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
	b.	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: January 24, 2014

“Chris Bunka”                      
Chris Bunka
President, Chief Executive Officer and Director
(Principal Executive Officer)

EX-31.2

EXHIBIT 31.2

CERTIFICATION PURSUANT TO
18 U.S.C. ss 1350, AS ADOPTED PURSUANT TO
SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Bal Bhullar, certify that:

1.	I have reviewed this Annual Report on Form 10-K of Lexaria Corp.;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.	The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
	a.	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
	b.	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
	c.	Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
	d.	Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.	The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
	a.	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
	b.	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: January 24, 2014

“Bal Bhullar”         
Bal Bhullar
Chief Financial Officer, Treasurer and Director
(Principal Financial Officer and Principal Accounting Officer)

EX-32.1

EXHIBIT 32.1

CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

I, Chris Bunka, hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)	the Annual Report on Form 10-K of Lexaria Corp. for the year ended October 31, 2013 (the "Report") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
(2)	the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Lexaria Corp.

Dated: January 24, 2014

“Chris Bunka”

Chris Bunka

President, Chief Executive Officer and Director

(Principal Executive Officer)

Lexaria Corp.

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to Lexaria Corp. and will be retained by Lexaria Corp. and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32.2

EXHIBIT 32.2

CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

I, Bal Bhullar, hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)	the Annual Report on Form 10-K of Lexaria Corp. for the year ended October 31, 2013 (the "Report") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
(2)	the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Lexaria Corp.

Dated: January 24, 2014

“Bal Bhullar”

Bal Bhullar

Chief Financial Officer, Treasurer and Director

(Principal Financial Officer and Principal

Accounting Officer)

Lexaria Corp.

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to Lexaria Corp. and will be retained by Lexaria Corp. and furnished to the Securities and Exchange Commission or its staff upon request.

EX-99.2

XML

Supplemental Information On Natural Gas and Oil Exploration, Development and Production Activities (Narrative) (Details) (USD $)	12 Months Ended
	Oct. 31, 2013
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities 1	10.00%
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities 2	$ 106.22

XML

Schedule of Deferred Tax Assets and Liabilities (Details) (USD $)	12 Months Ended
	Oct. 31, 2013
Income Tax Schedule Of Deferred Tax Assets And Liabilities 1	$ 1,620,320
Income Tax Schedule Of Deferred Tax Assets And Liabilities 2	1,548,213
Income Tax Schedule Of Deferred Tax Assets And Liabilities 3	(341)
Income Tax Schedule Of Deferred Tax Assets And Liabilities 4	1,620,320
Income Tax Schedule Of Deferred Tax Assets And Liabilities 5	1,547,871
Income Tax Schedule Of Deferred Tax Assets And Liabilities 6	(1,620,320)
Income Tax Schedule Of Deferred Tax Assets And Liabilities 7	(1,547,871)
Income Tax Schedule Of Deferred Tax Assets And Liabilities 8	0
Income Tax Schedule Of Deferred Tax Assets And Liabilities 9	$ 0

XML

Schedule of Share-based Compensation Arrangements by Share-based Payment Award (Details) (USD $)	12 Months Ended
	Oct. 31, 2013 Y
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 1	$ 0.20
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 2	150,000
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 3	1.79
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 4	0.20
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 5	150,000
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 6	0.20
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 7	0.20
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 8	850,000
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 9	1.22
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 10	0.20
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 11	850,000
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 12	0.20
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 13	0.35
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 14	700,000
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 15	0.35
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 16	700,000
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 17	0.35
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 18	0.10
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 19	500,000
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 20	4.63
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 21	0.10
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 22	500,000
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 23	0.10
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 24	2,200,000
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 25	2.5
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 26	0.23
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 27	$ 2,200,000
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 28	0.23

XML

Asset retirement obligations (Narrative) (Details)	12 Months Ended
	Oct. 31, 2013 Y
Asset Retirement Obligations 1	10.00%
Asset Retirement Obligations 2	12

XML

Stock Options (Tables)

12 Months Ended

Oct. 31, 2013

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

	Year ended October 31, 2013	Year ended October 31, 2012
Expected volatility	142.25%	129.14% - 152.92%
Risk-free interest rate	1.83%	2.75%
Expected life	5 years	5 years
Dividend yield	0.0%	0.0%

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

	Options Outstanding
				Weighted Average
	Number of Shares			Exercise Price
Balance, October 31, 2011	1,700,000		$	0.26
Granted	65,000			0.25
Expired	(65,000	)		0.30
Balance, October 31, 2012	1,700,000		$	0.26
Granted	500,000			0.10
Balance, October 31, 2013	2,200,000		$	0.23

Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]

October 31, 2013		Options outstanding			Options exercisable
Range of Exercise	Number of	Weighted average		Weighted average	Number of		Weighted average
prices	shares	remaining contractual life		exercise price	shares		exercise price
$0.20	150,000	1.79 years	$	0.20	150,000	$	0.20
$0.20	850,000	1.22 years	$	0.20	850,000	$	0.20
$0.35	700,000	2.70years	$	0.35	700,000	$	0.35
$0.10	500,000	4.63 years	$	0.10	500,000	$	0.10
Total	2,200,000	2.50 years	$	0.23	2,200,000	$	0.23

XML

Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows (Details) (USD $)	12 Months Ended
	Oct. 31, 2013
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities Schedule Of Changes In Standardized Measure Of Discounted Future Net Cash Flows 1	$ 15,301,046
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities Schedule Of Changes In Standardized Measure Of Discounted Future Net Cash Flows 2	(5,351,109)
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities Schedule Of Changes In Standardized Measure Of Discounted Future Net Cash Flows 3	(1,131,516)
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities Schedule Of Changes In Standardized Measure Of Discounted Future Net Cash Flows 4	8,818,421
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities Schedule Of Changes In Standardized Measure Of Discounted Future Net Cash Flows 5	10.00%
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities Schedule Of Changes In Standardized Measure Of Discounted Future Net Cash Flows 6	(2,832,552)
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities Schedule Of Changes In Standardized Measure Of Discounted Future Net Cash Flows 7	$ 5,985,869

XML

Schedule of Debt (Details) (USD $)	12 Months Ended
	Oct. 31, 2013
Loan Payable Schedule Of Debt 1	$ 75,000
Loan Payable Schedule Of Debt 2	75,000
Loan Payable Schedule Of Debt 3	75,000
Loan Payable Schedule Of Debt 4	620,000
Loan Payable Schedule Of Debt 5	413,333
Loan Payable Schedule Of Debt 6	610,073
Loan Payable Schedule Of Debt 7	200,000
Loan Payable Schedule Of Debt 8	141,667
Loan Payable Schedule Of Debt 9	200,000
Loan Payable Schedule Of Debt 10	50,000
Loan Payable Schedule Of Debt 11	50,000
Loan Payable Schedule Of Debt 12	50,000
Loan Payable Schedule Of Debt 13	50,000
Loan Payable Schedule Of Debt 14	0
Loan Payable Schedule Of Debt 15	50,000
Loan Payable Schedule Of Debt 16	657,447
Loan Payable Schedule Of Debt 17	597,161
Loan Payable Schedule Of Debt 18	657,447
Loan Payable Schedule Of Debt 19	1,652,447
Loan Payable Schedule Of Debt 20	1,277,161
Loan Payable Schedule Of Debt 21	1,642,520
Loan Payable Schedule Of Debt 22	1,652,447
Loan Payable Schedule Of Debt 23	1,277,161
Loan Payable Schedule Of Debt 24	1,642,520
Loan Payable Schedule Of Debt 25	0
Loan Payable Schedule Of Debt 26	0
Loan Payable Schedule Of Debt 27	$ 0

XML

Income Tax (Narrative) (Details) (USD $)	12 Months Ended
	Oct. 31, 2013
Income Tax 1	$ 4,783,000

XML

Schedule of Effective Income Tax Rate Reconciliation (Details) (USD $)	12 Months Ended
	Oct. 31, 2013
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 1	$ (343,549)
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 2	(251,510)
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 3	34.00%
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 4	35.00%
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 5	(116,807)
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 6	(88,029)
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 7	132
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 8	7,081
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 9	0
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 10	(58,748)
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 11	44,225
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 12	0
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 13	72,449
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 14	139,696
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 15	0
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 16	$ 0

XML

Significant Accounting Policies

12 Months Ended

Oct. 31, 2013

Significant Accounting Policies [Text Block]

3. Significant Accounting Policies

a)	Principles of Accounting
	These financial statements are stated in U.S. dollars and have been prepared in accordance with U.S. generally accepted accounting principles.

b)

Revenue Reconition

The Company uses the sales method of accounting for natural gas and oil revenues. Under this method, revenues are recognized upon the passage of title, net of royalties. Revenues from natural gas production are recorded using the sales method. When sales volumes exceed the Company’s entitled share, an overproduced imbalance occurs. To the extent the overproduced imbalance exceeds the Company’s share of the remaining estimated proved natural gas reserves for a given property, the Company records a liability. At October 31, 2013 and 2012, the Company had no overproduced imbalances.

c)	Cash and Cash Equivalents
	Cash equivalents comprise certain highly liquid instruments with a maturity of three months or less when purchased. As of October 31, 2013 and 2012, cash and cash equivalents consist of cash only.

d) Oil and Gas Properties

The Company utilizes the full cost method to account for its investment in oil and gas properties. Accordingly, all costs associated with acquisition, exploration and development of oil and gas reserves, including such costs as leasehold acquisition costs, capitalized interest costs relating to unproved properties, geological expenditures, tangible and intangible development costs including direct internal costs are capitalized to the full cost pool. When the Company obtains proven oil and gas reserves, capitalized costs, including estimated future costs to develop the reserves and estimated abandonment costs, net of salvage, will be depleted on the units-of-production method using estimates of proved reserves.

Investments in unproved properties are not depleted pending determination of the existence of proved reserves. Unproved properties are assessed periodically to ascertain whether impairment has occurred. Unproved properties whose costs are individually significant are assessed individually by considering the primary lease terms of the properties, the holding period of the properties, and geographic and geologic data obtained relating to the properties. Where it is not practicable to assess individually the amount of impairment of properties for which costs are not individually significant, such properties are grouped for purposes of assessing impairment. The amount of impairment assessed is added to the costs to be amortized, or is reported as a period expense, as appropriate.

Pursuant to full cost accounting rules, the Company must perform a ceiling test periodically on its proved oil and gas assets. The ceiling test provides that capitalized costs less related accumulated depletion and deferred income taxes for each cost center may not exceed the sum of (1) the present value of future net revenue from estimated production of proved oil and gas reserves using current prices, excluding the future cash outflows associated with settling asset retirement obligations that have been accrued on the balance sheet, at a discount factor of 10%; plus (2) the cost of properties not being amortized, if any; plus (3) the lower of cost or estimated fair value of unproved properties included in the costs being amortized, if any; less (4) income tax effects related to differences in the book and tax basis of oil and gas properties. Should the net capitalized costs for a cost center exceed the sum of the components noted above, an impairment charge would be recognized to the extent of the excess capitalized costs.

Sales of proved and unproved properties are accounted for as adjustments of capitalized costs with no gain or loss recognized, unless such adjustments would significantly alter the relationship between capitalized costs and proved reserves of oil and gas, in which case the gain or loss is recognized in the statement of operations.

Exploration activities conducted jointly with others are reflected at the Company’s proportionate interest in such activities.

Cost related to site restoration programs are accrued over the life of the project.

e)

Stock-Based Compensation

Accounting Standards Codification (“ASC”) 718, “ Compensation – Stock Compensation ”, accounts for its stock options and similar equity instruments issued. Accordingly, compensation costs attributable to stock options or similar equity instruments granted are measured at the fair value at the grant date, and expensed over the expected vesting period. ASC 718 requires excess tax benefits be reported as a financing cash inflow rather than as a reduction of taxes paid.

f)

Accounting Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and assumptions. Significant estimates are required in the valuation of deferred tax assets, asset retirement obligations, share-based payment arrangements and proved oil and gas reserves, and such estimates may impact the amount at which such items are recorded.

g)	Capital Assets
	The capital asset represents computer equipment which is carried at cost and is amortized over its estimated useful life of 3 years straight-line. Computer equipment is written down to its net realizable value if it is determined that its carrying value exceeds estimated future benefits to the Company.

h)	Loss Per Share
	Loss per share is computed using the weighted average number of shares outstanding during the period. The Company has adopted ASC 220 “ Earnings Per Share ”. Diluted loss per share is equivalent to basic loss per share because the potential exercise of the equity-based financial instruments was anti-dilutive.

i)	Foreign Currency Translations
	The Company’s operations are located in the United States of America and Canada, and it has offices in Canada. The Company maintains its accounting records in U.S. Dollars, as follows:
	At the transaction date, each asset, liability, revenue and expense that was acquired or incurred in a foreign currency is translated into U.S. dollars by the using of the exchange rate in effect at that date. At the period end, monetary assets and liabilities are translated at the exchange rate in effect at that date. The resulting foreign exchange gains and losses are included in operations.

j)	Financial Instruments
	ASC 820 “ Fair Value Measurements and Disclosures ” requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value:
	Level 1 - Quoted prices in active markets for identical assets or liabilities;
	Level 2 - Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; and
	Level 3 - Unobservable inputs that are supported by little or no market activity, therefore requiring an entity to develop its own assumptions about the assumptions that market participants would use in pricing.

The Company’s financial instruments consist primarily of cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, loan payable and due to a related party. The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, loans payable and due to a related party approximate their fair values due to their short maturities. The carrying values of the Company‘s long-term debt approximate their fair values based upon a comparison of the interest rate and terms of such debt to the rates and terms of debt currently available to the Company.

The Company is located in Canada, which results in exposure to market risks from changes in foreign currency rates. The financial risk is the risk to the Company’s operations that arise from fluctuations in foreign exchange rates and the degree of volatility of these rates. Currently, the Company does not use derivative instruments to reduce its exposure to foreign currency risk.

k)

Income Taxes

The Company has adopted ASC 740, “ Income Taxes” , which requires the Company to recognize deferred tax liabilities and assets for the expected future tax consequences of events that have been recognized in the Company’s financial statements or tax returns using the liability method. Under this method, deferred tax liabilities and assets are determined based on the temporary differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect in the year in which the differences are expected to reverse.

l)

Long-Lived Assets Impairment

Long-term assets of the Company are reviewed for impairment when circumstances indicate the carrying value may not be recoverable in accordance with the guidance established in ASC 360, “ Property, Plant and Equipment ’. For assets that are to be held and used, an impairment loss is recognized when the estimated undiscounted cash flows associated with the asset or group of assets is less than their carrying value. If impairment exists, an adjustment is made to write the asset down to its fair value. Fair values are determined based on discounted cash flows or internal and external appraisals, as applicable. Assets to be disposed of are carried at the lower of carrying value or estimated net realizable value.

m)

Asset Retirement Obligations

The Company accounts for asset retirement obligations in accordance with the provisions of ASC 410, “Asset Retirement and Environmental Obligations ”. ASC 410 requires the Company to record the fair value of an asset retirement obligation as a liability in the period in which it incurs a legal obligation associated with the retirement of tangible long-lived assets that result from the acquisition, construction, development and/or normal use of the assets.

n)

Comprehensive Income

The Company has adopted ASC 220, “ Comprehensive Income” , which establishes standards for reporting and display of comprehensive income, its components and accumulated balances. The Company is disclosing this information on its Statement of Stockholders’ Equity. Comprehensive income comprises equity changes except those transactions resulting from investments by owners and distributions to owners.

o)	Credit risk and receivable Concentration
	The Company places its cash and cash equivalent with high credit quality financial institution. As of October 31, 2013, the Company had approximately $51,072 in a bank beyond insured limit (October 31, 2012: $171,845).

The revenues were generated from the Company’s sole customer for fiscal year 2013 and 2012; the corresponding accounts receivable balances were $17,148 and $257,693 at October 31, 2013 and 2012, respectively.

p)	Convertible Debentures
	The Company accounts for its convertible debt instruments that may be settled in cash upon conversion according to ASC 470-20-30-22 which requires the proceeds from the issuance of such convertible debt instruments to be allocated between debt and equity components so that debt is discounted to reflect the Company’s non-convertible debt borrowing rate.
	Further, the Company applies ASC 470-20-35-13 which requires the debt discount to be amortized over the period the convertible debt is expected to be outstanding as additional non-cash interest expense.

q)

Commitments and Contingencies

In accordance with ASC 450-20, “Accounting for Contingencies”, the Company records accruals for such loss contingencies when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. In the event that estimates or assumptions prove to differ from actual results, adjustments are made in subsequent periods to reflect more current information. Historically, the Company has not experienced any material claims.

r)

Newly Adopted Accounting Policies

In December 2011, the FASB issued new accounting guidance for disclosures about offsetting assets and liabilities which requires an entity to disclose information about financial instruments that have been offset and related arrangements to enable users of its financial statements to understand the effect of those arrangements on its financial position. Entities will be required to provide both net (offset amounts) and gross information in the notes to the financial statements for relevant assets and liabilities that are offset. The new guidance is effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. The Company adopted this guidance in fiscal year 2013 and does not have significant impact on its results of operations, financial condition and cash flows.

s) New Accounting Pronouncements

In February 2013, the FASB issued new accounting guidance to improve the reporting of reclassifications out of accumulated other comprehensive income. Under the guidance, an entity is required to provide information about the amounts reclassified out of accumulated other comprehensive income (“AOCI”) by component. In addition, an entity is required to present, either on the face of the financial statements or in the notes, significant amounts reclassified out of AOCI by the respective line items of net income, but only if the amount reclassified is required to be reclassified in its entirety in the same reporting period. For amounts that are not required to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures that provide additional details about those amounts. The guidance did not change the requirements for reporting net income or other comprehensive income in the financial statements. The new guidance is effective for annual reporting periods beginning on or after December 15, 2012, and interim periods within those annual periods. The Company expects to adopt this guidance in fiscal year 2014 and does not believe it will have a significant impact on its results of operations, financial condition and cash flows.

In March 2013, the Financial Accounting Standards Board ( “FASB”) issued Accounting Standards Update ("ASU") 2013-05, "Foreign Currency Matters (Topic 830); Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity." This guidance applies to the release of the cumulative translation adjustment into net income when a parent either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a business (other than a sale of in substance real estate or conveyance of oil and gas mineral rights) within a foreign entity. ASU No. 2013-05 is effective prospectively for fiscal years (and interim reporting periods within those years) beginning after December 15, 2013. The Company will adopt this guidance in fiscal year 2014 and does not believe it will have a significant impact on its results of operations, financial condition and cash flows.

In July 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. This new guidance provides specific financial statement presentation requirements of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The guidance states that an unrecognized tax benefit in those circumstances should be presented as a reduction to the deferred tax asset. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. Early adoption is permitted. The Company will adopt this guidance in fiscal year 2014 and does not believe that the adoption of this guidance will have a material impact on its financial statements.

Accounting standards that have been issued or proposed by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the Company’s financial statements upon adoption.

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Schedule of Asset Retirement Obligations (Details) (USD $)	12 Months Ended
	Oct. 31, 2013
Asset Retirement Obligations Schedule Of Asset Retirement Obligations 1	$ 59,245
Asset Retirement Obligations Schedule Of Asset Retirement Obligations 2	0
Asset Retirement Obligations Schedule Of Asset Retirement Obligations 3	0
Asset Retirement Obligations Schedule Of Asset Retirement Obligations 4	59,245
Asset Retirement Obligations Schedule Of Asset Retirement Obligations 5	59,245
Asset Retirement Obligations Schedule Of Asset Retirement Obligations 6	$ 59,245

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Significant Accounting Policies (Narrative) (Details) (USD $)	12 Months Ended
	Oct. 31, 2013 Y
Significant Accounting Policies 1	10.00%
Significant Accounting Policies 2	3
Significant Accounting Policies 3	$ 51,072
Significant Accounting Policies 4	171,845
Significant Accounting Policies 5	17,148
Significant Accounting Policies 6	$ 257,693

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Organization and Business (Narrative) (Details) (USD $)	12 Months Ended
	Oct. 31, 2013
Organization And Business 1	$ 343,551
Organization And Business 2	251,508
Organization And Business 3	5,057,677
Organization And Business 4	4,714,126
Organization And Business 5	1,268,937
Organization And Business 6	$ 1,238,407

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Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details)	12 Months Ended
	Oct. 31, 2013 Y
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 1	142.25%
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 2	129.14
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 3	152.92
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 4	1.83%
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 5	2.75%
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 6	5
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 7	5
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 8	0.00%
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 9	0.00%

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Capital Stock (Narrative) (Details)	12 Months Ended
	Oct. 31, 2013
Capital Stock 1	160,000
Capital Stock 2	16,431,452

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Oil and Gas Properties (Narrative) (Details) (USD $)	12 Months Ended
	Oct. 31, 2013 M Y acre
Oil And Gas Properties 1	20.00%
Oil And Gas Properties 2	$ 700,000
Oil And Gas Properties 3	220,000
Oil And Gas Properties 4	480,000
Oil And Gas Properties 5	140,000
Oil And Gas Properties 6	10.00%
Oil And Gas Properties 7	520,000
Oil And Gas Properties 8	501,922
Oil And Gas Properties 9	30.00%
Oil And Gas Properties 10	266,348
Oil And Gas Properties 11	127,707
Oil And Gas Properties 12	40,073
Oil And Gas Properties 13	2.00%
Oil And Gas Properties 14	10.00%
Oil And Gas Properties 15	32.00%
Oil And Gas Properties 16	140,000
Oil And Gas Properties 17	60.00%
Oil And Gas Properties 18	371,609
Oil And Gas Properties 19	25.84%
Oil And Gas Properties 20	18.00%
Oil And Gas Properties 21	5.20%
Oil And Gas Properties 22	500.00%
Oil And Gas Properties 23	6.16%
Oil And Gas Properties 24	5.00%
Oil And Gas Properties 25	11.60%
Oil And Gas Properties 26	499,893
Oil And Gas Properties 27	$ 0.12
Oil And Gas Properties 28	$ 0.20
Oil And Gas Properties 29	144,063
Oil And Gas Properties 30	324,677
Oil And Gas Properties 31	32.00%
Oil And Gas Properties 32	24.00%
Oil And Gas Properties 33	8.00%
Oil And Gas Properties 34	6.00%
Oil And Gas Properties 35	500.00%
Oil And Gas Properties 36	8.74%
Oil And Gas Properties 37	20.79%
Oil And Gas Properties 38	2.46%
Oil And Gas Properties 39	408,116
Oil And Gas Properties 40	24.00%
Oil And Gas Properties 41	32.00%
Oil And Gas Properties 42	8.00%
Oil And Gas Properties 43	500.00%
Oil And Gas Properties 44	100.00%
Oil And Gas Properties 45	10.00%
Oil And Gas Properties 46	10.00%
Oil And Gas Properties 47	42.00%
Oil And Gas Properties 48	60.00%
Oil And Gas Properties 49	130,000
Oil And Gas Properties 50	200,000
Oil And Gas Properties 51	200,000
Oil And Gas Properties 52	10,000
Oil And Gas Properties 53	3
Oil And Gas Properties 54	200,000
Oil And Gas Properties 55	500
Oil And Gas Properties 56	200,000
Oil And Gas Properties 57	200,000
Oil And Gas Properties 58	230,000
Oil And Gas Properties 59	800,000
Oil And Gas Properties 60	91,613
Oil And Gas Properties 61	378,967
Oil And Gas Properties 62	1,000,000
Oil And Gas Properties 63	820,000
Oil And Gas Properties 64	200,000
Oil And Gas Properties 65	40.00%
Oil And Gas Properties 66	32.00%
Oil And Gas Properties 67	30.00%
Oil And Gas Properties 68	10.00%
Oil And Gas Properties 69	5.00%
Oil And Gas Properties 70	40,073
Oil And Gas Properties 71	2.00%
Oil And Gas Properties 72	10.00%
Oil And Gas Properties 73	100
Oil And Gas Properties 74	4
Oil And Gas Properties 75	32.00%
Oil And Gas Properties 76	140,000
Oil And Gas Properties 77	60.00%
Oil And Gas Properties 78	$ 30,076
Oil And Gas Properties 79	18.00%
Oil And Gas Properties 80	4.423%

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Business Risk And Liquidity

12 Months Ended

Oct. 31, 2013

Business Risk And Liquidity [Text Block]

2.

Business Risk and Liquidity

The Company is subject to several categories of risk associated with its operating activities. Natural gas and oil exploration and production is a speculative business and involves a high degree of risk. Among the factors that have a direct bearing on the Company’s financial information are uncertainties inherent in estimating natural gas and oil reserves, future hydrocarbon production and cash flows, particularly with respect to wells that have not been fully tested and with wells having limited production histories; access and cost of services and equipment; and the presence of competitors with greater financial resources and capacity.

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Loan Payable (Narrative) (Details)	12 Months Ended
	Oct. 31, 2013 USD ($)	Oct. 31, 2013 CAD
Loan Payable 1	$ 75,000
Loan Payable 2	18.00%	18.00%
Loan Payable 3	108.00%	108.00%
Loan Payable 4	0.30
Loan Payable 5	450,000
Loan Payable 6	12.00%	12.00%
Loan Payable 7	$ 0.35
Loan Payable 8	$ 0.40
Loan Payable 9	1,000,000
Loan Payable 10	50,000
Loan Payable 11	170,000
Loan Payable 12	12.00%	12.00%
Loan Payable 13	$ 0.35
Loan Payable 14	$ 0.40
Loan Payable 15	120,000
Loan Payable 16	620,000
Loan Payable 17	20,000
Loan Payable 18	206,667
Loan Payable 19	0
Loan Payable 20	200,000
Loan Payable 21	12.00%	12.00%
Loan Payable 22	$ 0.35
Loan Payable 23	$ 0.40
Loan Payable 24	1,000,000
Loan Payable 25	200,000
Loan Payable 26	200,000
Loan Payable 27	0
Loan Payable 28	200,000
Loan Payable 29	58,333
Loan Payable 30	0
Loan Payable 31	50,000
Loan Payable 32	12.00%	12.00%
Loan Payable 33	50,000
Loan Payable 34	4,166
Loan Payable 35	12.00%	12.00%
Loan Payable 36	0
Loan Payable 37		900,000
Loan Payable 38		400,000
Loan Payable 39		300,000
Loan Payable 40		200,000
Loan Payable 41	18.00%	18.00%
Loan Payable 42	$ 0.45
Loan Payable 43	390,000	390,000
Loan Payable 44	1,560,000	1,560,000
Loan Payable 45	195,000	195,000
Loan Payable 46	780,000	780,000
Loan Payable 47	0.05
Loan Payable 48	195,000	195,000
Loan Payable 49	780,000	780,000
Loan Payable 50	0.05
Loan Payable 51		21,321
Loan Payable 52		683,559
Loan Payable 53	45,000
Loan Payable 54	0.05
Loan Payable 55	191,000	191,000
Loan Payable 56	95,500	95,500
Loan Payable 57	1,625
Loan Payable 58	65,000	65,000
Loan Payable 59	32,500	32,500
Loan Payable 60	$ 0.05
Loan Payable 61	2,167
Loan Payable 62	86,667	86,667
Loan Payable 63	43,333	43,333
Loan Payable 64	$ 0.05
Loan Payable 65		36,667
Loan Payable 66		185,000
Loan Payable 67	18.00%	18.00%
Loan Payable 68	$ 930,000
Loan Payable 69	12	12
Loan Payable 70	7	7

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Schedule of Proved Properties (Details) (USD $)	12 Months Ended
	Oct. 31, 2013	Oct. 31, 2012
Oil And Gas Properties Schedule Of Proved Properties 1	$ 3,699,535
Oil And Gas Properties Schedule Of Proved Properties 2	70,613
Oil And Gas Properties Schedule Of Proved Properties 3	(343,062)
Oil And Gas Properties Schedule Of Proved Properties 4	3,427,086
Oil And Gas Properties Schedule Of Proved Properties 1		3,717,866
Oil And Gas Properties Schedule Of Proved Properties 2		438,267
Oil And Gas Properties Schedule Of Proved Properties 3		(456,598)
Oil And Gas Properties Schedule Of Proved Properties 4		$ 3,699,535

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BALANCE SHEET (USD $)	Oct. 31, 2013	Oct. 31, 2012
Current
Cash and cash equivalents	$ 65,542	$ 180,514
Accounts receivable	79,217	290,936
Prepaid expenses and deposit	1,507	1,475
Total Current Assets	146,266	472,925
Oil and gas properties
Proved properties	3,427,086	3,699,535
Unproved properties	0	19,293
TOTAL ASSETS	3,573,352	4,191,753
Current
Accounts payable and accrued liabilities	136,273	67,043
Loan payable	1,277,161	1,642,520
Due to a related party	1,769	1,769
Total Current Liabilities	1,415,203	1,711,332
Asset Retirement Obligations	59,245	59,245
TOTAL LIABILITIES	1,474,448	1,770,577
STOCKHOLDERS' EQUITY
Share Capital Authorized: 200,000,000 common voting shares with a par value of $0.001 per share Issued and outstanding: 16,431,452 common shares at October 31, 2013 and 2012	16,431	16,431
Additional paid-in capital	7,140,150	7,118,871
Deficit	(5,057,677)	(4,714,126)
Total Stockholders' Equity	2,098,904	2,421,176
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 3,573,352	$ 4,191,753

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Schedule of Share-based Compensation, Stock Options, Activity (Details) (USD $)	12 Months Ended
	Oct. 31, 2013
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 1	$ 1,700,000
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 2	0.26
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 3	65,000
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 4	0.25
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 5	(65,000)
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 6	0.30
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 7	1,700,000
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 8	0.26
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 9	500,000
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 10	0.10
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 11	$ 2,200,000
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 12	0.23

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STATEMENTS OF STOCKHOLDERS' EQUITY AND COMPREHENSIVE INCOME (USD $)	COMMON STOCK [Member]	ADDITIONAL PAID-IN CAPITAL [Member]	DEFICIT [Member]	Total
Beginning Balance at Oct. 31, 2011	$ 16,431	$ 7,107,535	$ (4,462,618)	$ 2,661,348
Beginning Balance (Shares) at Oct. 31, 2011	16,431,452
Stock Options @ $0.30		9,589		9,589
Stock Options @ $0.20		1,747		1,747
(Loss) for the year			(251,508)	(251,508)
Ending Balance at Oct. 31, 2012	16,431	7,118,871	(4,714,126)	2,421,176
Beginning Balance (Shares) at Oct. 31, 2012	16,431,452
Stock Options @ $0.10		21,279		21,279
Shares issued for services	11,200			11,200
Shares issued for services (Shares)	160,000
Cancellation of shares issued for services	(11,200)			(11,200)
Cancellation of shares issued for services (shares)	(160,000)
(Loss) for the year			(343,551)	(343,551)
Ending Balance at Oct. 31, 2013	$ 16,431	$ 7,140,150	$ (5,057,677)	$ 2,098,904
Ending Balance (Shares) at Oct. 31, 2013	16,431,452

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Stock Options (Narrative) (Details) (USD $)	12 Months Ended
	Oct. 31, 2013
Stock Options 1	500,000
Stock Options 2	$ 0.10
Stock Options 3	21,279
Stock Options 4	$ 11,336

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Oil and Gas Properties (Tables)

12 Months Ended

Oct. 31, 2013

Oct. 31, 2012

Schedule of Proved Properties [Table Text Block]

Properties		October 31,		Addition		Depletion			October 31,
		2012							2013
U.S.A. – Proved property	$	3,699,535	$	70,613	$	(343,062	)	$	3,427,086

Properties		October 31,		Addition		Depletion			October 31,
		2011							2012
U.S.A. – Proved property	$	3,717,866	$	438,267	$	(456,598	)	$	3,699,535

Schedule of Unproved Properties [Table Text Block]

Properties	October 31,			October 31,
	2012	Write-off		2013
U.S.A.-Unproved properties	19,293	(19,293	)	-

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Commitments, Significant Contracts and Contingencies (Narrative) (Details)	12 Months Ended
	Oct. 31, 2013 USD ($) Y	Oct. 31, 2013
Commitments, Significant Contracts And Contingencies 1	8,000	8,000
Commitments, Significant Contracts And Contingencies 2	4,500	4,500
Commitments, Significant Contracts And Contingencies 3	5,500	5,500
Commitments, Significant Contracts And Contingencies 4	3,125	3,125
Commitments, Significant Contracts And Contingencies 5	$ 3,125
Commitments, Significant Contracts And Contingencies 6	10
Commitments, Significant Contracts And Contingencies 7	2	2
Commitments, Significant Contracts And Contingencies 8	$ 1,652

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Asset retirement obligations (Tables)

12 Months Ended

Oct. 31, 2013

Schedule of Asset Retirement Obligations [Table Text Block]

		October 31,	October 31,
		2013	2012
Asset retirement obligation – beginning balance	$	59,245	-
Incurred		-	59,245
Asset retirement obligation – ending balance
		59,245	59,245

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Organization and Business

12 Months Ended

Oct. 31, 2013

Organization and Business [Text Block]

1.	Organization and Business
	The Company was formed on December 9, 2004 under the laws of the State of Nevada and commenced operations on December 9, 2004. The Company is an independent natural gas and oil company engaged in the exploration, development and acquisition of oil and gas properties in the United States and Canada. The Company’s entry into the oil and gas business began on February 3, 2005. The Company has offices in Vancouver and Kelowna, BC, Canada.
	These financial statements have been prepared in accordance with United States generally accepted accounting principles applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. The Company has recurring operating loss and required additional funds to maintain its operations. Management’s plans in this regard are to raise equity and/or debt financing as required.
	The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. The Company has a net loss of $343,551 for the year ended October 31, 2013 (2012: $251,508) and at October 31, 2013 had a deficit accumulated since its inception of $5,057,677 (2012: $4,714,126). The Company has working capital deficit of $1,268,937 as at October 31, 2013 (2012: $1,238,407). The Company requires additional funds to maintain its existing oil and gas operations and developments. These conditions raise substantial doubt about our Company’s ability to continue as a going concern. Management’s plans in this regard are to raise equity and debt financing as required, but there is no certainty that such financing will be available or that it will be available at acceptable terms. The outcome of these matters cannot be predicted at this time and the financing environment is difficult.
	These financial statements do not include any adjustments to reflect the future effects on the recoverability and classification of assets or the amounts and classification of liabilities that might result from the outcome of this uncertainty.

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BALANCE SHEET (Parenthetical) (USD $)	Oct. 31, 2013	Oct. 31, 2012
Common Stock, Shares Authorized	200,000,000	200,000,000
Common Stock, Par Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares, Issued	16,431,452	16,431,452
Common Stock, Shares, Outstanding	16,431,452	16,431,452

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Income Tax

12 Months Ended

Oct. 31, 2013

Income Tax [Text Block]

11.	Income Tax
	The Company is subject US tax laws. The following table reconciles the expected income taxes expense (recovery) at the US statutory income tax rates to the amounts recognized in the consolidated statements of operations for the years ended October 31, 2013 and 2012:

		2013			2012
Income (loss) before taxes	$	(343,549	)	$	(251,510	)
Statutory tax rate		34%			35%
Expected income tax (recovery)	$	(116,807	)	$	(88,029	)
Non-deductible items	$	132		$	7,081
Change in estimates	$	0		$	(58,748	)
Change in enacted tax rate	$	44,225		$	0
Change in valuation allowance	$	72,449		$	139,696
Total income taxes (recovery)	$	Nil		$	Nil

Deferred income taxes reflect the tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes. Deferred tax assets (liabilities) at October 31, 2013 and 2012 are comprised of the following:

		2013			2012
Net capital loss carryforwards	$	1,620,320		$	1,548,213
Financial instrument	$			$	(341	)
	$	1,620,320		$	1,547,871
Valuation allowance	$	(1,620,320	)	$	(1,547,871	)
Net deferred tax assets (liabilities)	$	Nil		$	Nil

The Company has net operating loss carryforwards of approximately $4,783,000 which may be carried forward to apply against future year income tax for US tax purposes.

Year		Amount
2025	$	76,000
2026		508,000
2027		1,056,000
2028		720,000
2029		753,000
2030		552,000
2031		538,000
2032		220,000
2033		360,000
Total	$	4,783,000

The deferred tax assets have not been recognized because at this stage of the Company’s development, it is not determinable that future taxable profit will be available against which the Company can utilize such deferred income tax assets.

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Document and Entity Information (USD $)	12 Months Ended
	Oct. 31, 2013	Jan. 24, 2014	Apr. 30, 2013
Document Type	10-K
Amendment Flag	false
Document Period End Date	Oct. 31, 2013
Trading Symbol	lxrp
Entity Registrant Name	LEXARIA CORP.
Entity Central Index Key	0001348362
Current Fiscal Year End Date	--10-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		16,931,452
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well Known Seasoned Issuer	No
Entity Public Float			$ 570,547
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	FY

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Segmented Information

12 Months Ended

Oct. 31, 2013

Segmented Information [Text Block]

12.	Segmented Information
	The Company’s business is considered as operating in one segment being the oil and gas in the United States, based upon the Company’s organizational structure, the way in which the operation is managed and evaluated, the availability of separate financial results and materiality considerations.

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STATEMENTS OF OPERATIONS (USD $)	12 Months Ended
	Oct. 31, 2013	Oct. 31, 2012
Revenue
Natural gas and oil revenue	$ 1,097,455	$ 1,357,762
Cost of revenue
Natural gas and oil operating costs	452,142	326,670
Depletion	343,062	456,598
Total cost of revenue	795,204	783,268
Gross profit (loss)	302,251	574,494
Expenses
Accounting and audit	40,450	40,643
Insurance	6,947	6,677
Advertising and promotions	8,194	3,466
Bank charges and exchange loss	(19,211)	8,965
Stock Based Compensation	21,279	11,336
Consulting	196,706	239,260
Fees and Dues	26,909	62,506
Interest expense from loan payable	267,357	237,641
Investor relation	0	29,616
Legal and professional	18,679	125,855
Office and miscellaneous	6,755	2,966
Rent	20,771	15,434
Telephone	7,170	4,135
Taxes	6,055	14,042
Travel	18,448	23,460
Write-off of oil and gas property	19,293	0
Total operating expenses	645,802	826,002
Net (loss) for the year	$ (343,551)	$ (251,508)
Basic and diluted (loss) per share	$ (0.02)	$ (0.02)
Weighted average number of common shares outstanding
- Basic and diluted	16,431,452	16,431,452

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Loan Payable

12 Months Ended

Oct. 31, 2013

Loan Payable [Text Block]

6. Loan Payable

			Carrying amounts
		Original	October 31,	October 31,
Notes	Nature	amounts	2013	2012
		$	$	$
a)	Promissory Note	75,000	75,000	75,000
b)	Convertible debentures	620,000	413,333	610,073
c)	Convertible debentures	200,000	141,667	200,000
d)	Promissory Note	50,000	50,000	50,000
e)	Promissory Note	50,000	-	50,000
f)	Promissory Note	657,447	597,161	657,447
Total Outstanding		1,652,447	1,277,161	1,642,520
Loan payable - current		1,652,447	1,277,161	1,642,520
Loan payable - long term		-	-	-

a)	On April 1, 2010, the Company entered into a purchase agreement with CAB Financial Services Ltd., a company controlled by Christopher Bunka, our President, Chief Executive Officer and Director, (“Purchaser”) for a non-secured promissory note in the amount of $75,000 (the “Promissory Note”). The Purchaser agreed to purchase a non-secured 18% interest bearing Promissory Note of our company subject to and upon the terms and conditions of the Purchase Agreement. The Promissory Note was due and payable on April 1, 2012. The Promissory Note may be prepaid in whole or in part at any time prior to April 1, 2012 by payment of 108% of the outstanding principal amount including accrued and unpaid interest. Upon the mature of the Promissory Note, it has been renewed to a month to month basis.
	As long as the Promissory Note is outstanding, the Purchaser may voluntarily convert the Promissory Note including accrued and unpaid interest to common shares of our Company at the conversion price of $0.30 per common share.
	The Company did not incur beneficiary conversion charges as the conversion price is greater than the fair value of the Company’s equity at the time of issuance.
b)	On November 30, 2010, we closed the first tranche of a private placement offering of convertible debentures in the aggregate amount of $450,000. The convertible debentures mature on November 30, 2012, subject to forced conversion as set out in the convertible debenture certificate. The convertible debentures pay an interest rate of 12% per annum (on a simple basis) and are convertible at $0.35 per unit. Each unit is comprised of one share of our common stock and one share purchase warrant. Each warrant entitles the holder thereof to purchase one share at a price of $0.40 per share up to the earlier of the maturity date of the convertible debenture or one year from conversion of the convertible debenture.
	We also entered into a general security agreement with the subscribers, whereby the obligations to repay the convertible debenture are secured by the Company’s working interest and production in and only in two oil wells located at Belmont Lake, Mississippi, with carrying value of $1,000,000 as of October 31, 2012. One director of the Company and Emerald Atlantic LLC, solely owned by the director, subscribed the convertible debentures with amount of $50,000.

	On December 16, 2010, the Company closed the second tranche of a private placement offering of convertible debentures in the aggregate amount of $170,000. The convertible debentures mature on November 30, 2012, subject to forced conversion as set out in the convertible debenture certificate. The convertible debentures pay an interest rate of 12% per annum (on a simple basis) and are convertible at $0.35 per unit. Each unit is comprised of one share of our common stock and one share purchase warrant. Each warrant entitles the holder thereof to purchase one share at a price of $0.40 per share up to the earlier of the maturity date of the convertible debenture or one year from conversion of the convertible debenture. We also entered into a general security agreement with the subscribers, whereby the obligations to repay the convertible debenture are secured by the same assets for the first tranche of the private placement offering on November 30, 2010. One director of the Company and Emerald Atlantic LLC, solely owned by the director, subscribed the convertible debentures with amount of $120,000.
	The aggregate principal value of the above convertible debentures was $620,000 and was allocated to the individual components on a relative fair value basis. In addition, because the effective conversion price of the convertible debentures was below the current trading price of the Company’s common shares at the date of issuance, the Company recorded a beneficial conversion feature of approximately $20,000. The value of the warrants and beneficial conversion feature has been recorded as additional paid in capital.
	Upon its maturity on November 30, 2012, the covertible debentures was not converted. The Company entered into an Amendment to existing debt agreement with debt holders, whereby the lenders have agreed to modify terms of the earlier agreements and provide for a debt repayment schedule ending on November 30, 2013. The Company was scheduled to repay the debt in twelve equal monthly principal payment, plus interest on the monthly declining balances. The interest rates of the amendment debt are the same as the existing debt agreement.
	During the year ended October 31, 2013, the Company has paid down the debt by $206,667 (October 31, 2012: $nil). Subsequent to October 31, 2013, the Company entered into an Amendment agreement to refinance and extend repayment terms on the loan, please refer to Note 6g for details.
c)	On December 1, 2011, the Company closed a private placement offering of convertible debentures in the aggregate amount of $200,000. The convertible debentures mature on December 1, 2012, subject to forced conversion as set out in the convertible debenture certificate. The convertible debentures pay an interest rate of 12% per annum (on a simple basis) and are convertible at $0.35 per unit. Each unit is comprised of one share of our common share and one share purchase warrant. Each warrant entitles the holder thereof to purchase one share at a price of $0.40 per share up to the earlier of the maturity date of the convertible debenture or one year from conversion of the convertible debenture. The Company also entered into a general security agreement with the subscribers, whereby the obligations to repay the convertible debenture are secured by the Company’s working interest and production in and only in two oil wells located at Belmont Lake, Mississippi, with carrying value of $1,000,000 as of October 31, 2012. Two directors of the Company, David DeMartini and Christopher Bunka, via CAB Financial Services Ltd, solely owned by the director, subscribed to the convertible debentures with the amount of $200,000.
	The aggregate principal value of the above convertible debentures was $200,000 and was allocated to the individual components on a relative fair value basis. Because the effective conversion price of the convertible debentures was above the current trading price of the Company’s common shares at the date of issuance, beneficial conversion feature is $Nil, therefore, the amount of $200,000 was recorded under loan payable.
	Upon its maturity on December 1, 2012, the covertible debentures was not converted. The Company entered into an Amendment to existing debt agreement with debt holders, whereby the lenders have agreed to modify terms of the earlier agreements and provide for a debt repayment schedule ending on December 1, 2013. The Company was scheduled to repay the debt in twelve equal monthly principal payment, plus interest on the monthly declining balances. The interest rates of the amendment debt are the same as the existing debt agreement.

	During the year ended October 31, 2013, the Company has paid down the debt by $58,333 (October 31, 2012: $nil). Subsequent to October 31, 2013, the Company entered into an Amendment agreement to refinance and extend repayment terms on the loan, please refer to Note 6g for details.
d)	On March 30, 2012, the Company entered into a loan agreement with Christopher Bunka, our President, Chief Executive Officer and Director, (“Lender”) for a non-secured promissory note in the amount of $50,000 (the “Promissory Note”). The Lender agreed to purchase a non-secured 12% interest bearing Promissory Note of our company subject to and upon the terms and conditions of the agreement. The Promissory Note has a month to month term.
e)	On July 20, 2012, the Company entered into a loan agreement with Christopher Bunka, our President, Chief Executive Officer and Director, (“Lender”) for a non-secured promissory note in the amount of $50,000 (the “Promissory Note”). The Company promises to pay to Lender at the end of every month $4,166 to be applied against the principal amount outstanding from the date of the Loan Agreement for twelve months, plus interest at the rate of 12% per annum on the outstanding balance.
	During the year ended October 31, 2013, the Company has paid down the debt in full (October 31, 2012: $Nil).
f)	On October 27, 2008 the Company entered into a Purchase Agreement in the amount of CAD$900,000 of Notes being purchased by the President (CAD$400,000), the President’s wholly-owned company (CAD$300,000) and a shareholder (CAD$200,000) of the Company (“Purchasers”). The Purchasers agreed to purchase an 18% interest bearing Promissory Note of the Company subject to and upon the terms and conditions of the Purchase Agreement. The Company’s obligations to repay the Promissory Note will be secured by certain specified assets of the Company pursuant to a Security Agreement. As long as the Promissory Note is outstanding, the Purchasers may voluntarily convert the Promissory Note to Common Shares at the conversion price of $0.45 per share of Common Stock. The Promissory Note matures on October 27, 2010 or by mutual agreement by all parties on October 27, 2009.

In connection with the Purchase Agreement, the Company issued a total of 390,000 ( 1,560,000 pre-consolidation) warrants which two warrants entitle a holder to purchase a common share of the Company of which 195,000 ( 780,000 pre-consolidation) warrants are eligible at $0.05 (adjusted price) and 195,000 ( 780,000 pre-consolidation) warrants are eligible at $0.05 (adjusted price) per share and expire October 27, 2009 and October 27, 2010, respectively.

The Company did not incur beneficiary conversion charges as the conversion price is greater than the fair value of the Company’s equity.

As at the date of the issuance of the above noted Promissory Note, the Company allocated CAD$21,321 and CAD$683,559 to warrants (additional paid-in capital) and Promissory Note based on their relative fair value.

On July 10, 2009 the Purchasers converted $45,000 of the Promissory Note into equity at $0.05.

On October 27, 2009, 191,000 warrants were exercised for 95,500 common shares.

On October 21, 2010, the Company settled a portion of the debt, namely $1,625 with the President’s wholly-owned company by converting 65,000 warrants into 32,500 common shares of the Company as per Purchase Agreement dated October 27, 2008 at a price of $0.05 per share.

On October 21, 2010, the Company settled a portion of the debt, namely $2,167 with the President by converting 86,667 warrants into 43,333 common shares of the Company as per Purchase Agreement dated October 27, 2008 at a price of $0.05 per share.

	On October 21, 2010, the Company entered into an amendment with loan holders to extend the loan to be on a month-to-month basis with the same terms and conditions as pursuant to the amendment.
	On December 1, 2012, the Company entered into an Amendment to existing debt agreement with a shareholder of the Company, whereby the lender has agreed to modify terms of the earlier agreements and provide for a debt repayment schedule ending on December 1, 2013. The Company was scheduled to repay the debt in twelve equal monthly principal payment, plus interest on the monthly declining balances. The interest rates of the amendment debt are the same as the existing debt agreement. Subsequent to October 31, 2013, the Company entered into an Amendment agreement to refinance and extend repayment terms on the loan, please refer to Note 7g for details.
	During the year ended October 31, 2013, the Company has paid down the debt by CAD$36,667 (October 31, 2012: CAD$185,000).
g)	Subsequent to year end, on November 13, 2013, the Company refinanced and extended repayment terms on all debt that was otherwise due to mature in December 2013 with CAB Financial Services Ltd., David DeMartini, Emerald Atlantic LLC, and other debt holders of the Company. Per the Amendment Agreements, a) the loan repayment schedule will be converted, with an effective date of December 1, 2013, to a new one year term loan with monthly interest payments at 18% on any declining balance, in arrears and all principal amounts not paid before then due in full on December 1, 2014; b) the first payment of interest shall be due on January 1, 2014; c) the Company will make ten (10) monthly principal payments, each of which is 1/10th of the principal amount owing at the time this Agreement goes into effect, beginning on March 1 2014 and repeating on the first day of each month thereafter until all the principal is paid; d) the Company grants to the lenders new collateral specifically limited to the lender’s pro-rata portion (the original initial balance owing to the lender shall form the numerator and $930,000 shall form the denominator) of the Company’s portion of the net revenue from the new 12 - 7 well required to keep the terms of this Agreement in good standing at any given monthly due date.

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Oil and Gas Properties

12 Months Ended

Oct. 31, 2013

Oil and Gas Properties [Text Block]

5. Oil and Gas Properties

(a) Proved properties

Properties		October 31,		Addition		Depletion			October 31,
		2012							2013
U.S.A. – Proved property	$	3,699,535	$	70,613	$	(343,062	)	$	3,427,086

Properties		October 31,		Addition		Depletion			October 31,
		2011							2012
U.S.A. – Proved property	$	3,717,866	$	438,267	$	(456,598	)	$	3,699,535

Palmetto Point Project

On December 21, 2005, the Company agreed to purchase a 20% working and revenue interest in a 10 well drilling program in Mississippi owned by Griffin & Griffin Exploration for $700,000. Concurrent with signing the Company paid $220,000 and January 17, 2006 the Company paid the remaining $480,000. The Company applied the full cost method to account for its oil and gas properties, seven wells were found to be proved wells, and three wells were found impaired. One of the wells was impaired due to uneconomic life, and the other two wells were abandoned due to no apparent gas or oil shows present. The costs of impaired properties were added to the capitalized cost in determination of the depletion expense.

On September 22, 2006, the Company elected to participate in an additional two-well program in Mississippi owned by Griffin & Griffin Exploration and paid $140,000. The two wells were found to be proved wells.

On June 23, 2007, the Company acquired an assignment of 10% gross working interest from a third party for $520,000 secured loan payable. The Company recognized $501,922 in the oil and gas property.

On October 4, 2007, the Company elected to participate in the drilling of PP F-12-3 in Mississippi by Griffin & Griffin Exploration. The Company had 30% gross working interest and paid $266,348. On July 31, 2008, the Company accrued and paid an additional cost of $127,707 for the workovers of wells PP F-12 and PP F-12-3. PP F-12 started production from October 2007, and PP F-12-3 started production from November 2007.

On April 3, 2009, the Company entered into an Asset Purchase Agreement to acquire additional interests in its existing core producing Mississippi oil and gas properties. The Company paid $40,073 to acquire additional 2% working interest in the proven Belmont Lake oil and gas and an additional 10% working interest in potential nearby exploration wells. At this time the total working interest for Belmont Lake is 32%; and total working interest in the exploration wells on approximately 140,000 acres surrounding Belmont Lake in all directions is 60%.

The Company had a short-lived opportunity to acquire additional fractional interests in the Belmont Lake 12-4 well which was expected to be a horizontal well. An unrelated third party did not participate in its right to participate in the 12-4 well, and therefore a share of its interest (a “non consent” interest) was made available to the other participating parties including Lexaria. On August 28, 2009 and effective on September 1, 2009, to take best advantage of this opportunity, the Company entered into four separate assignment agreements, three of which were with people or companies with related management. The Company received from these four parties proceeds of $371,609 to fund additional interests in this well. As a result, the Company has a 25.84% perpetual gross interest in the well ( 18.0% net revenue interest); as well as a 5.2% net revenue interest in the non-consent interest. The non-consent interest remains valid until such time as the well produces 500% of all costs and expenses back to the participants in the form of revenue, at which time the non-consent interest ends. Enertopia, a company with related management, had acquired from Lexaria a 6.16% perpetual gross interest in the 12-4 well; David DeMartini, a director of Lexaria, acquired from Lexaria a 5% gross interest in the non-consent interest in the 12-4 well; and Kelowna Resources Group formerly known as 0743608 BC Ltd. a company owned by the President of the Company, acquired from Lexaria a 11.60% gross interest in the non-consent interest in the 12-4 well.

On May 31, 2010, the Company signed a Settlement Agreement with Enertopia Corp., whereby the Company issued 499,893 units at $0.12 per unit and each unit consists of one restricted common share and one share purchase warrant at $0.20 per share for a period of two years in exchange for the working interest initially assigned on August 28, 2009.

On June 16, 2010, the Company signed a Settlement Agreement with a third party, who had originally participated in the August 28, 2009, opportunity in the non-consent interest for Belmont Lake 12-4. The Company returned back $144,063 to the third party and cancelled its participation.

On July 29, 2010, the Company had agreed with its Operators at Belmont Lake not to proceed to drill a horizontal 12-4 well. Rather, two of the three proposed vertical wells 12-2, 12-4, or 12-5 were proposed to be drilled. To take best advantage of this opportunity, the Company cancelled all previous agreements relating to August 28, 2009 with respect to Belmont Lake horizontal well 12-4 and entered into three separate assignment agreements, of which all three were with people or companies with related management. The Company received total proceeds of $324,677 to fund additional interests in these wells. As a result, the Company had a 32% perpetual gross interest in the wells ( 24.0% net revenue interest); as well as a 8% gross interest ( 6% net revenue interest) in the non-consent interest. The non-consent interest remains valid until such time as the well produces 500% of all costs and expenses back to the participants in the form of revenue, at which time the non-consent interest ends. Emerald Atlantic LLC, a company owned by a director of Lexaria, acquired from Lexaria a 8.74% gross interest in the non-consent interest in two of the three vertical wells; and Kelowna Resources Group formerly known as 0743608 BC Ltd. a company owned by the President of the Company, acquired from Lexaria a 20.79% gross interest in the non-consent interest in the two of the three vertical wells; an advisor to the Company acquired from Lexaria 2.46% gross interest in the non-consent interest in two of the three vertical wells.

The July 29, 2010 agreements were replaced on September 13, 2010, when the Company entered into three separate assignment agreements with Kelowna Resources Group formerly known as 0743608 BC Ltd, solely owned by Director/Officer of the Company; Emerald Atlantic LLC, solely owned by a Director of the Company, and the Senior VP Business Development. (the “Assignees”), whereby the Assignees have paid a fee of $408,116 to earn a 24% share of the Company’s gross non-perpetual 32% interest in the three oil wells being drilled in Wilkinson County, Mississippi. As a result of the three assignment agreements, Lexaria receives at no cost to the company, a carried interest of 8% in these same rights and benefits. The Company assigns, transfers and sets over to the Assignees, all proportionate rights, interest and benefits in the Assigned Non Perpetual Interest held by or granted to the Assignor in and to the Participation Agreement between the Company and Griffin but limited to a gross 500% revenue payout based on the total amount paid under the Initial Consideration and the Subsequent Consideration after which all rights, interests and benefits cease.

Lexaria entered into an Asset Purchase Agreement dated August 12, 2011, with Brinx Resources Ltd. to acquire 100% of its 10% gross working interest in the oil and gas interests located in Mississippi, USA. By acquiring the additional 10% working interest in Belmont Lake oil and gas field, Lexaria then had 42% working interest in Belmont Lake and retains its existing 60% working interest in the exploration wells on approximately 130,000 acres surrounding Belmont Lake in all directions.

Lexaria has agreed to considerations as follows;

1.	$200,000 on the August 12, 2011 (the "Initial Payment") (paid), and
2.	$200,000 on or before November 12, 2011; or interim payments, as agreed, in the amount of $10,000 per month for up to 3 months following November 12, 2011 with the remaining balance of $200,000 then due and payable (the "Final Payment"), and, should Lexaria not make the final payment on February 12, 2011 a penalty of $500 per day (the “Penalty Payments”) beginning one day after February 12, 2011 and accruing until the balance of the $200,000 Final Payment is made to the Vendor. Both the Vendor and the Purchaser agreed that, should any Penalty Payments be due, such Penalty Payments are not deductible from the balance of the $200,000 Final Payment. As at October 31, 2012, the Company has paid $230,000, including the interim payments and Final Payment.
3.	800,000 shares of restricted common stock issued from Lexaria treasury were issued on August 12, 2011.

During the year ended October 31, 2013, additional expenditures of $91,613 were incurred for workovers and there were additional well interest changes or workovers pending of well PP F-4. During the year ended October 31, 2012, additional expenditures of $378,967 were incurred for workovers and there were additional well interest changes or workovers pending for wells PP F-12, PP F12-3, and PP F29.

	As of October 31, 2013 and 2012, the Company’s working interest and production in PPF-12-4 and PPF-12-5 well located at Belmont Lake, Mississippi, with carrying values of $1,000,000, are used as security for the convertible debentures issued on November 30, 2010, December 16, 2010 and December 1, 2011 (see note 6 (b) and (c)), with aggregate amount of $820,000.
(b)	Unproved Properties

Properties	October 31,			October 31,
	2012	Write-off		2013
U.S.A.-Unproved properties	19,293	(19,293	)	-

Mississippi and Louisiana, USA

The Company entered into an Agreement to acquire a working interest in multiple zones of potential oil and gas production in Mississippi and Louisiana. This Agreement contemplates up to a 50 well drill program for Wilcox and Frio wells, at the Company’s option, within the defined area of mutual interest (AMI). The AMI includes over 200,000 gross acres located non-contiguously between Southwest Mississippi and North East Louisiana.

The Company originally agreed to pay 40% of all prospect fees, mineral leases, surface leases, and drilling and completion costs to earn a net 32% of all production from all producible zones to the base of the Frio formation (Frio Targets); and, 30% of all production to the base of the Wilcox formation (Wilcox Targets). All working interests are to be registered in the name of Lexaria Corp.

On June 21, 2007, the Company acquired an additional 10% from a third party for all rights, title and benefits excluding the seven wells drilled under the AMI Agreement between August 3, 2006 and June 19, 2007, specifically wells CMR-USA-39-14, Dixon #1, Faust #1 TEC F-1, CMR/BR F-14, RB F-1 Red Bug #2, BR F-33, and Randall #1 F-4, and any offset wells that could be drilled to any of these specified wells.

On July 26, 2007, the Company acquired 5% from a third party for all rights, title and benefits in the seven wells drilled under the AMI Agreement between August 3, 2006 and June 19, 2007, specifically wells CMR-USA-39-14, Dixon #1, Faust #1 TEC F-1, CMR/BR F-14, RB F-1 Red Bug #2, BR F-33, and Randall #1 F-4, and any offset wells that could be drilled to any of these specified wells.

On April 3, 2009, the Company entered into an Asset Purchase Agreement to acquire additional interests in its existing core producing Mississippi oil and gas properties. The Company paid $40,073 to acquire an additional 2% working interest in the proven Belmont Lake oil and gas field, and an additional 10% working interest in potential nearby exploration wells. Further, the Company is required to pay $100 per month for a period of 4 years from the closing. Total working interest for Belmont Lake as of October 31, 2010 is 32%; and total working interest in the exploration wells on approximately 140,000 acres surrounding Belmont Lake in all directions as of October 31, 2010, is 60%.

On December 16, 2010, the Company entered into an assignment agreement with Emerald Atlantic LLC, solely owned by a Director of the Company (the “Assignee”), whereby the Assignee has paid a fee of $30,076 to earn 18% of a 4.423% share of the Company’s net revenue interest after field operating expenses for a well USA 1-27 that was subsequently drilled in Wilkinson County and found to have no economic oil or gas reserves.

As of October 31, 2013, the AMI had expired as scheduled, and all related oil and gas acquisition and exploration costs have been written off.

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Loan Payable (Tables)

12 Months Ended

Oct. 31, 2013

Schedule of Debt [Table Text Block]

			Carrying amounts
		Original	October 31,	October 31,
Notes	Nature	amounts	2013	2012
		$	$	$
a)	Promissory Note	75,000	75,000	75,000
b)	Convertible debentures	620,000	413,333	610,073
c)	Convertible debentures	200,000	141,667	200,000
d)	Promissory Note	50,000	50,000	50,000
e)	Promissory Note	50,000	-	50,000
f)	Promissory Note	657,447	597,161	657,447
Total Outstanding		1,652,447	1,277,161	1,642,520
Loan payable - current		1,652,447	1,277,161	1,642,520
Loan payable - long term		-	-	-

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Subsequent Events

12 Months Ended

Oct. 31, 2013

Subsequent Events [Text Block]

13. Subsequent Events

a)	On November 1, 2013, Lexaria Corp. (the “Company”) entered into three separate assignment agreements with CAB Financial Services Ltd. solely owned by a Director/Officer of the Company; Emerald Atlantic LLC, solely owned by a Director of the Company, and a third party. (the “Assignees”), whereby the Assignees have paid a fee of US$305,894 to earn a 28.68% share of the Company’s perpetual 42% interest in a proposed 12-7 oil well to be drilled in Wilkinson County, Mississippi. As a result of the three assignment agreements, Lexaria receives a carried interest of 13.32% in these same rights and benefits. The Company assigns and transfers over to the Assignees, all proportionate rights, interest and benefits in the Assigned Perpetual Interest held by or granted to the Assignor in and to the Participation Agreement between the Company and Griffin.
b)	On November 1, 2013, Lexaria Corp (the “Company”) closed its first tranche of the private placement of 500,000 units at a price of $0.06 per unit for gross proceeds of $30,000. Each unit consisted of one common share in the capital of the Company and one full non-transferable share purchase warrant, each full warrant entitling the holder to purchase one additional common share in the capital of the Company until November 1, 2015, at a purchase price of $0.10 per share.
c)	On November 13, 2013 the Company refinanced and extended repayment terms on all debt that was otherwise due to mature in December 2013 with CAB Financial Services Ltd., David DeMartini, Emerald Atlantic LLC, and other debt holders of the Company.

d) On December 4, 2013, the Company entered into a loan agreement and promissory note with Chris Bunka (the “Lender”), a director and officer of our company. The principal amount of the note is CAD$51,507.50. The entering into of the loan agreement and promissory note provides that the principal and interest on the debt be payable for a period of fifteen months. The note has an interest rate of 15% per annum and a monthly principal payment of $4,292 starting after the third month.

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Stock Options

12 Months Ended

Oct. 31, 2013

Stock Options [Text Block]

9.	Stock Options
	On June 18, 2013, the Company granted 500,000 stock options to officers, directors and consultants of the Company with an exercise price of $0.10, vested immediately, expiring June 18, 2018.
	For the year ended October 31, 2013, the Company recorded a total of $21,279 (2012: $11,336) for stock based compensation expenses.
	The fair value of each option granted has been estimated as of the date of the grant using the Black-Scholes option pricing model with the following assumptions:

	Year ended October 31, 2013	Year ended October 31, 2012
Expected volatility	142.25%	129.14% - 152.92%
Risk-free interest rate	1.83%	2.75%
Expected life	5 years	5 years
Dividend yield	0.0%	0.0%

A summary of the stock options for the year ended October 31, 2013 is presented below:

	Options Outstanding
				Weighted Average
	Number of Shares			Exercise Price
Balance, October 31, 2011	1,700,000		$	0.26
Granted	65,000			0.25
Expired	(65,000	)		0.30
Balance, October 31, 2012	1,700,000		$	0.26
Granted	500,000			0.10
Balance, October 31, 2013	2,200,000		$	0.23

The Company has the following options outstanding and exercisable:

October 31, 2013		Options outstanding			Options exercisable
Range of Exercise	Number of	Weighted average		Weighted average	Number of		Weighted average
prices	shares	remaining contractual life		exercise price	shares		exercise price
$0.20	150,000	1.79 years	$	0.20	150,000	$	0.20
$0.20	850,000	1.22 years	$	0.20	850,000	$	0.20
$0.35	700,000	2.70years	$	0.35	700,000	$	0.35
$0.10	500,000	4.63 years	$	0.10	500,000	$	0.10
Total	2,200,000	2.50 years	$	0.23	2,200,000	$	0.23

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Asset retirement obligations

12 Months Ended

Oct. 31, 2013

Asset retirement obligations [Text Block]

7.	Asset retirement obligations
	Remediation, reclamation and mine closure costs are based principally on legal and regulatory requirements. Management estimates costs associated with reclamation of mining properties as well as remediation costs for inactive properties. The Company uses assumptions about future costs, capital costs and reclamation costs. Such assumptions are based on the Company’s current mining plan and the best available information for making such estimates. In calculating the present value of the asset retirement obligation the Company used a credit-adjusted risk free interest rate of 10% and a projected mine life of 12 years. On an ongoing basis, management revaluates its estimates and assumptions; however, actual amounts could differ from those based on such estimates and assumptions.
	Changes to the Company’s asset retirement obligation on its Palmetto Point project are as follows:

		October 31,	October 31,
		2013	2012
Asset retirement obligation – beginning balance	$	59,245	-
Incurred		-	59,245
Asset retirement obligation – ending balance
		59,245	59,245

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Related Party Transactions

12 Months Ended

Oct. 31, 2013

Related Party Transactions [Text Block]

8. Related Party Transactions

(a)	For the year ended October 31, 2013, the Company paid / accrued $96,000 to CAB Financial Services Ltd “CAB” (2012: $96,000), Tom Ihrke, the VP of business development, $120 (2012: $7,908), and BKB Management Ltd. (“BKB”) CAD$66,000 (2012: CAD$66,000) for management, consulting and accounting services. CAB is owned by the president of the Company and BKB is owned by the CFO of the Company.
	The related party transactions are recorded at the exchange amount established and agreed to between the related parties.
(b)	On October 27, 2008 the Company entered a secured loan agreement in the amount of CAD$300,000 with CAB (See Note 7f). On July 10, 2009 $40,000 of the debt was converted to equity. On October 21, 2010, the Company settled a portion of the debt, namely US$1,625 with CAB by converting 65,000 warrants into 32,500 common shares of the Company as per Purchase Agreement dated October 27, 2008 at a price of $0.05 per share. On June 28, 2011, the Company paid down CAD $100,000 of the debt. For the year ended October 31, 2013, the Company paid interest expenses of CAD $20,835 (2012: CAD$27,275).
(c)	On October 27, 2008 the Company entered a secured loan agreement in the amount of CAD$400,000 with Christopher Bunka (See Note 7f). On October 21, 2010, the Company settled a portion of the debt, namely $2,167 with Christopher Bunka by converting 86,667 warrants into 43,333 common shares of the Company as per Purchase Agreement dated October 27, 2008 at a price of $0.05 per share. For the year ended October 31, 2013, the Company paid interest expenses of CAD $65,643 (2012: CAD$71,610).
(d)	On April 1, 2010, the Company entered a non-secured loan agreement in the amount of US$75,000 with CAB (See Note 6a). For the year ended October 31, 2013, the Company paid interest expenses of $11,250 (2012: $13,500).
(e)	On March 30, 2012, the Company entered a non-secured loan agreement in the amount of US$50,000 with Chris Bunka. For the year ended October 31, 2013, the Company incurred interest expenses of $5,500 (2012: $3500).
(f)	On July 20, 2012, the Company entered a non-secured loan agreement in the amount of US$50,000 with Chris Bunka. For the year ended October 31, 2013, the Company incurred interest expenses of $1,875 (2012: $1,556) and paid the full principal of $50,000 (2012: $Nil) .
(g)	On December 1, 2011, the Company entered into a secured loan agreement in the amount of $200,000 with two directors of the Company (see Note 6c, g). This loan agreement was amended for another year to repay the debt in twelve equal monthly principal payment, plus interest on the monthly declining balances. The interest rates of the amendment debt are the same as the existing debt agreement. For the year ended October 31, 2013, the Company paid/accrued interest expense of $34,667 (2012: $22,000).
(h)	Included in accounts payable, $89,540 (2012: $55,011) and other payable, $34,410 (2012: nil) was payable to companies controlled by the president, key management personnel and directors of the Company. Included in other receivable, $21,363 was receivable from companies controlled by the president, key management personnel and directors of the Company.
(i)	For the year ended October 31, 2013, the Company has paid/accrued $15,866 (2012: $67,377) to Kelowna Resources Group formerly known as 0743608 BC Ltd.; $6,669 (2012:$28,323) to Emerald Atlantic LLC; and, $1,880 to Tom Ihrke (2012: $6,796) for their respective Non-consent Interests in Belmont Lake. Kelowna Resources Group, formerly known as 0743608 BC Ltd., is owned by the president of the Company, and Emerald Atlantic LLC is owned by a Director of the Company.

(j) See Note 5 and 6.

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Commitments, Significant Contracts and Contingencies

12 Months Ended

Oct. 31, 2013

Commitments, Significant Contracts and Contingencies [Text Block]

10.	Commitments, Significant Contracts and Contingencies
	On November 27, 2008, the Company entered into a Consulting Agreement with CAB Financial Services Ltd. for consulting services of CAB on a continuing basis for a consideration of US$8,000 per month plus GST.
	On May 12, 2009 the Company entered into a consulting agreement with BKB Management Ltd. to act as the Chief Financial Officer and a Director for an initial period of six months for consideration of CAD $4,500 per month plus GST. This agreement replaces the September 1, 2008, Controller Agreement with CAB Financial Services Ltd. Subsequent to October 31, 2010, effective January 1, 2011, the consideration was increased to CAD$5,500 per month plus GST/HST.
	On August 5, 2010 we entered into a three-month Management agreement with Tom Ihrke, whereby Mr. Ihrke will act as the Senior Vice-President, Business Development for the Company for consideration of $3,125 per month. On December 2, 2010, the Company entered into a month to month management agreement with Tom Ihrke, where by Mr. Ihrke will continue to act as the Senior Vice-President Business Development for the Company. On October 3, 2011 Mr. Ihrke and the Company amended the agreement whereby his title changed to Manager, Business Development. The Company will pay a monthly consulting fee of $3,125. Effective January 15, 2012, the consulting agreement has been decreased to $10 a month.
	On July 1, 2013, the Company entered into a 2 year lease for the Kelowna office with monthly rental rate of $1,652 including GST.
	See also Note 5 and 6.

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Related Party Transactions (Narrative) (Details)	12 Months Ended
	Oct. 31, 2013 USD ($)	Oct. 31, 2013 CAD
Related Party Transactions 1	$ 96,000
Related Party Transactions 2	96,000
Related Party Transactions 3	120
Related Party Transactions 4	7,908
Related Party Transactions 5		66,000
Related Party Transactions 6		66,000
Related Party Transactions 7		300,000
Related Party Transactions 8	40,000
Related Party Transactions 9	1,625
Related Party Transactions 10	65,000	65,000
Related Party Transactions 11	32,500	32,500
Related Party Transactions 12	$ 0.05
Related Party Transactions 13		100,000
Related Party Transactions 14		20,835
Related Party Transactions 15		27,275
Related Party Transactions 16		400,000
Related Party Transactions 17	2,167
Related Party Transactions 18	86,667	86,667
Related Party Transactions 19	43,333	43,333
Related Party Transactions 20	$ 0.05
Related Party Transactions 21		65,643
Related Party Transactions 22		71,610
Related Party Transactions 23	75,000
Related Party Transactions 24	11,250
Related Party Transactions 25	13,500
Related Party Transactions 26	50,000
Related Party Transactions 27	5,500
Related Party Transactions 28	3,500
Related Party Transactions 29	50,000
Related Party Transactions 30	1,875
Related Party Transactions 31	1,556
Related Party Transactions 32	50,000
Related Party Transactions 33	0
Related Party Transactions 34	200,000
Related Party Transactions 35	34,667
Related Party Transactions 36	22,000
Related Party Transactions 37	89,540
Related Party Transactions 38	55,011
Related Party Transactions 39	34,410
Related Party Transactions 40	0	0
Related Party Transactions 41	21,363
Related Party Transactions 42	15,866
Related Party Transactions 43	67,377
Related Party Transactions 44	743,608	743,608
Related Party Transactions 45	6,669
Related Party Transactions 46	28,323
Related Party Transactions 47	1,880
Related Party Transactions 48	$ 6,796

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Schedule of Proved Developed and Undeveloped Oil and Gas Reserve Quantities (Details) (USD $)	12 Months Ended
	Oct. 31, 2013
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities Schedule Of Proved Developed And Undeveloped Oil And Gas Reserve Quantities 1	139.04
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities Schedule Of Proved Developed And Undeveloped Oil And Gas Reserve Quantities 2	$ 0
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities Schedule Of Proved Developed And Undeveloped Oil And Gas Reserve Quantities 3	139.04
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities Schedule Of Proved Developed And Undeveloped Oil And Gas Reserve Quantities 4	20.89
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities Schedule Of Proved Developed And Undeveloped Oil And Gas Reserve Quantities 5	0
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities Schedule Of Proved Developed And Undeveloped Oil And Gas Reserve Quantities 6	20.89
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities Schedule Of Proved Developed And Undeveloped Oil And Gas Reserve Quantities 7	(15.88)
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities Schedule Of Proved Developed And Undeveloped Oil And Gas Reserve Quantities 8	0
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities Schedule Of Proved Developed And Undeveloped Oil And Gas Reserve Quantities 9	(15.88)
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities Schedule Of Proved Developed And Undeveloped Oil And Gas Reserve Quantities 10	144.05
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities Schedule Of Proved Developed And Undeveloped Oil And Gas Reserve Quantities 11	0
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities Schedule Of Proved Developed And Undeveloped Oil And Gas Reserve Quantities 12	144.05
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities Schedule Of Proved Developed And Undeveloped Oil And Gas Reserve Quantities 13	56.14
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities Schedule Of Proved Developed And Undeveloped Oil And Gas Reserve Quantities 14	0
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities Schedule Of Proved Developed And Undeveloped Oil And Gas Reserve Quantities 15	56.14
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities Schedule Of Proved Developed And Undeveloped Oil And Gas Reserve Quantities 16	34.02
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities Schedule Of Proved Developed And Undeveloped Oil And Gas Reserve Quantities 17	0
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities Schedule Of Proved Developed And Undeveloped Oil And Gas Reserve Quantities 18	34.02
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities Schedule Of Proved Developed And Undeveloped Oil And Gas Reserve Quantities 19	(15.88)
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities Schedule Of Proved Developed And Undeveloped Oil And Gas Reserve Quantities 20	0
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities Schedule Of Proved Developed And Undeveloped Oil And Gas Reserve Quantities 21	(15.88)
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities Schedule Of Proved Developed And Undeveloped Oil And Gas Reserve Quantities 22	74.28
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities Schedule Of Proved Developed And Undeveloped Oil And Gas Reserve Quantities 23	$ 0
Supplemental Information On Natural Gas And Oil Exploration, Development And Production Activities Schedule Of Proved Developed And Undeveloped Oil And Gas Reserve Quantities 24	74.28

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Summary of Significant Accounting Policies (Policies)

12 Months Ended

Oct. 31, 2013

Principles of Accounting [Policy Text Block]

a)	Principles of Accounting
	These financial statements are stated in U.S. dollars and have been prepared in accordance with U.S. generally accepted accounting principles.

Revenue Recognition [Policy Text Block]

b)

Revenue Reconition

The Company uses the sales method of accounting for natural gas and oil revenues. Under this method, revenues are recognized upon the passage of title, net of royalties. Revenues from natural gas production are recorded using the sales method. When sales volumes exceed the Company’s entitled share, an overproduced imbalance occurs. To the extent the overproduced imbalance exceeds the Company’s share of the remaining estimated proved natural gas reserves for a given property, the Company records a liability. At October 31, 2013 and 2012, the Company had no overproduced imbalances.

Cash and Cash Equivalents [Policy Text Block]

c)	Cash and Cash Equivalents
	Cash equivalents comprise certain highly liquid instruments with a maturity of three months or less when purchased. As of October 31, 2013 and 2012, cash and cash equivalents consist of cash only.

Oil and Gas Properties [Policy Text Block]

d) Oil and Gas Properties

The Company utilizes the full cost method to account for its investment in oil and gas properties. Accordingly, all costs associated with acquisition, exploration and development of oil and gas reserves, including such costs as leasehold acquisition costs, capitalized interest costs relating to unproved properties, geological expenditures, tangible and intangible development costs including direct internal costs are capitalized to the full cost pool. When the Company obtains proven oil and gas reserves, capitalized costs, including estimated future costs to develop the reserves and estimated abandonment costs, net of salvage, will be depleted on the units-of-production method using estimates of proved reserves.

Investments in unproved properties are not depleted pending determination of the existence of proved reserves. Unproved properties are assessed periodically to ascertain whether impairment has occurred. Unproved properties whose costs are individually significant are assessed individually by considering the primary lease terms of the properties, the holding period of the properties, and geographic and geologic data obtained relating to the properties. Where it is not practicable to assess individually the amount of impairment of properties for which costs are not individually significant, such properties are grouped for purposes of assessing impairment. The amount of impairment assessed is added to the costs to be amortized, or is reported as a period expense, as appropriate.

Pursuant to full cost accounting rules, the Company must perform a ceiling test periodically on its proved oil and gas assets. The ceiling test provides that capitalized costs less related accumulated depletion and deferred income taxes for each cost center may not exceed the sum of (1) the present value of future net revenue from estimated production of proved oil and gas reserves using current prices, excluding the future cash outflows associated with settling asset retirement obligations that have been accrued on the balance sheet, at a discount factor of 10%; plus (2) the cost of properties not being amortized, if any; plus (3) the lower of cost or estimated fair value of unproved properties included in the costs being amortized, if any; less (4) income tax effects related to differences in the book and tax basis of oil and gas properties. Should the net capitalized costs for a cost center exceed the sum of the components noted above, an impairment charge would be recognized to the extent of the excess capitalized costs.

Sales of proved and unproved properties are accounted for as adjustments of capitalized costs with no gain or loss recognized, unless such adjustments would significantly alter the relationship between capitalized costs and proved reserves of oil and gas, in which case the gain or loss is recognized in the statement of operations.

Exploration activities conducted jointly with others are reflected at the Company’s proportionate interest in such activities.

Cost related to site restoration programs are accrued over the life of the project.

Stock-Based Compensation [Policy Text Block]

e)

Stock-Based Compensation

Accounting Standards Codification (“ASC”) 718, “ Compensation – Stock Compensation ”, accounts for its stock options and similar equity instruments issued. Accordingly, compensation costs attributable to stock options or similar equity instruments granted are measured at the fair value at the grant date, and expensed over the expected vesting period. ASC 718 requires excess tax benefits be reported as a financing cash inflow rather than as a reduction of taxes paid.

Accounting Estimates [Policy Text Block]

f)

Accounting Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and assumptions. Significant estimates are required in the valuation of deferred tax assets, asset retirement obligations, share-based payment arrangements and proved oil and gas reserves, and such estimates may impact the amount at which such items are recorded.

Capital Assets [Policy Text Block]

g)	Capital Assets
	The capital asset represents computer equipment which is carried at cost and is amortized over its estimated useful life of 3 years straight-line. Computer equipment is written down to its net realizable value if it is determined that its carrying value exceeds estimated future benefits to the Company.

Loss Per Share [Policy Text Block]

h)	Loss Per Share
	Loss per share is computed using the weighted average number of shares outstanding during the period. The Company has adopted ASC 220 “ Earnings Per Share ”. Diluted loss per share is equivalent to basic loss per share because the potential exercise of the equity-based financial instruments was anti-dilutive.

Foreign Currency Translations [Policy Text Block]

i)	Foreign Currency Translations
	The Company’s operations are located in the United States of America and Canada, and it has offices in Canada. The Company maintains its accounting records in U.S. Dollars, as follows:
	At the transaction date, each asset, liability, revenue and expense that was acquired or incurred in a foreign currency is translated into U.S. dollars by the using of the exchange rate in effect at that date. At the period end, monetary assets and liabilities are translated at the exchange rate in effect at that date. The resulting foreign exchange gains and losses are included in operations.

Financial Instruments [Policy Text Block]

j)	Financial Instruments
	ASC 820 “ Fair Value Measurements and Disclosures ” requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value:
	Level 1 - Quoted prices in active markets for identical assets or liabilities;
	Level 2 - Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; and
	Level 3 - Unobservable inputs that are supported by little or no market activity, therefore requiring an entity to develop its own assumptions about the assumptions that market participants would use in pricing.

Income Taxes [Policy Text Block]

k)

Income Taxes

The Company has adopted ASC 740, “ Income Taxes” , which requires the Company to recognize deferred tax liabilities and assets for the expected future tax consequences of events that have been recognized in the Company’s financial statements or tax returns using the liability method. Under this method, deferred tax liabilities and assets are determined based on the temporary differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect in the year in which the differences are expected to reverse.

Long-Lived Assets Impairment [Policy Text Block]

l)

Long-Lived Assets Impairment

Long-term assets of the Company are reviewed for impairment when circumstances indicate the carrying value may not be recoverable in accordance with the guidance established in ASC 360, “ Property, Plant and Equipment ’. For assets that are to be held and used, an impairment loss is recognized when the estimated undiscounted cash flows associated with the asset or group of assets is less than their carrying value. If impairment exists, an adjustment is made to write the asset down to its fair value. Fair values are determined based on discounted cash flows or internal and external appraisals, as applicable. Assets to be disposed of are carried at the lower of carrying value or estimated net realizable value.

Asset Retirement Obligations [Policy Text Block]

m)

Asset Retirement Obligations

The Company accounts for asset retirement obligations in accordance with the provisions of ASC 410, “Asset Retirement and Environmental Obligations ”. ASC 410 requires the Company to record the fair value of an asset retirement obligation as a liability in the period in which it incurs a legal obligation associated with the retirement of tangible long-lived assets that result from the acquisition, construction, development and/or normal use of the assets.

Comprehensive Income [Policy Text Block]

n)

Comprehensive Income

The Company has adopted ASC 220, “ Comprehensive Income” , which establishes standards for reporting and display of comprehensive income, its components and accumulated balances. The Company is disclosing this information on its Statement of Stockholders’ Equity. Comprehensive income comprises equity changes except those transactions resulting from investments by owners and distributions to owners.

Credit risk and receivable Concentration [Policy Text Block]

o)	Credit risk and receivable Concentration
	The Company places its cash and cash equivalent with high credit quality financial institution. As of October 31, 2013, the Company had approximately $51,072 in a bank beyond insured limit (October 31, 2012: $171,845).

Convertible Debentures [Policy Text Block]

p)	Convertible Debentures
	The Company accounts for its convertible debt instruments that may be settled in cash upon conversion according to ASC 470-20-30-22 which requires the proceeds from the issuance of such convertible debt instruments to be allocated between debt and equity components so that debt is discounted to reflect the Company’s non-convertible debt borrowing rate.
	Further, the Company applies ASC 470-20-35-13 which requires the debt discount to be amortized over the period the convertible debt is expected to be outstanding as additional non-cash interest expense.

Commitments and Contingencies [Policy Text Block]

q)

Commitments and Contingencies

In accordance with ASC 450-20, “Accounting for Contingencies”, the Company records accruals for such loss contingencies when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. In the event that estimates or assumptions prove to differ from actual results, adjustments are made in subsequent periods to reflect more current information. Historically, the Company has not experienced any material claims.

Newly Adopted Accounting Policies [Policy Text Block]

r)

Newly Adopted Accounting Policies

In December 2011, the FASB issued new accounting guidance for disclosures about offsetting assets and liabilities which requires an entity to disclose information about financial instruments that have been offset and related arrangements to enable users of its financial statements to understand the effect of those arrangements on its financial position. Entities will be required to provide both net (offset amounts) and gross information in the notes to the financial statements for relevant assets and liabilities that are offset. The new guidance is effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. The Company adopted this guidance in fiscal year 2013 and does not have significant impact on its results of operations, financial condition and cash flows.

New Accounting Pronouncements [Policy Text Block]

s) New Accounting Pronouncements

In February 2013, the FASB issued new accounting guidance to improve the reporting of reclassifications out of accumulated other comprehensive income. Under the guidance, an entity is required to provide information about the amounts reclassified out of accumulated other comprehensive income (“AOCI”) by component. In addition, an entity is required to present, either on the face of the financial statements or in the notes, significant amounts reclassified out of AOCI by the respective line items of net income, but only if the amount reclassified is required to be reclassified in its entirety in the same reporting period. For amounts that are not required to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures that provide additional details about those amounts. The guidance did not change the requirements for reporting net income or other comprehensive income in the financial statements. The new guidance is effective for annual reporting periods beginning on or after December 15, 2012, and interim periods within those annual periods. The Company expects to adopt this guidance in fiscal year 2014 and does not believe it will have a significant impact on its results of operations, financial condition and cash flows.

In March 2013, the Financial Accounting Standards Board ( “FASB”) issued Accounting Standards Update ("ASU") 2013-05, "Foreign Currency Matters (Topic 830); Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity." This guidance applies to the release of the cumulative translation adjustment into net income when a parent either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a business (other than a sale of in substance real estate or conveyance of oil and gas mineral rights) within a foreign entity. ASU No. 2013-05 is effective prospectively for fiscal years (and interim reporting periods within those years) beginning after December 15, 2013. The Company will adopt this guidance in fiscal year 2014 and does not believe it will have a significant impact on its results of operations, financial condition and cash flows.

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Income Tax (Tables)

12 Months Ended

Oct. 31, 2013

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

		2013			2012
Income (loss) before taxes	$	(343,549	)	$	(251,510	)
Statutory tax rate		34%			35%
Expected income tax (recovery)	$	(116,807	)	$	(88,029	)
Non-deductible items	$	132		$	7,081
Change in estimates	$	0		$	(58,748	)
Change in enacted tax rate	$	44,225		$	0
Change in valuation allowance	$	72,449		$	139,696
Total income taxes (recovery)	$	Nil		$	Nil

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

		2013			2012
Net capital loss carryforwards	$	1,620,320		$	1,548,213
Financial instrument	$			$	(341	)
	$	1,620,320		$	1,547,871
Valuation allowance	$	(1,620,320	)	$	(1,547,871	)
Net deferred tax assets (liabilities)	$	Nil		$	Nil

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

Year		Amount
2025	$	76,000
2026		508,000
2027		1,056,000
2028		720,000
2029		753,000
2030		552,000
2031		538,000
2032		220,000
2033		360,000
Total	$	4,783,000

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Schedule of Components of Income Tax Expense (Benefit) (Details) (USD $)	12 Months Ended
	Oct. 31, 2013
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 1	$ 76,000
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 2	508,000
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 3	1,056,000
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 4	720,000
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 5	753,000
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 6	552,000
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 7	538,000
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 8	220,000
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 9	360,000
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 10	$ 4,783,000

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Schedule of Unproved Properties (Details) (USD $)	12 Months Ended
	Oct. 31, 2013
Oil And Gas Properties Schedule Of Unproved Properties 1	$ 19,293
Oil And Gas Properties Schedule Of Unproved Properties 2	(19,293)
Oil And Gas Properties Schedule Of Unproved Properties 3	$ 0

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STATEMENT OF CASH FLOWS (USD $)	12 Months Ended
	Oct. 31, 2013	Oct. 31, 2012
Cash flows used in operating activities
Net (loss) for the year	$ (343,551)	$ (251,508)
Adjustments to reconcile net loss to net cash used in operating activities:
Consulting - Stock based compensation	21,279	11,336
Depletion	343,062	456,598
Write-off of oil and gas properties	19,293	0
Foreign exchange gain / loss	0	1,078
Change in operating assets and liabilities:
(Increase)/Decrease in accounts receivable	211,719	(60,056)
(Increase)/ Decrease in prepaid expenses and deposit	(32)	33,765
Increase in accounts payable	69,230	(55,270)
Net cash used in operating activities	321,000	135,943
Cash flows used in investing activities
Oil and gas property acquisition and exploration costs	(91,613)	(274,132)
Proceeds from sales of oil and gas property	21,000	0
Net cash used in investing activities	(70,613)	(274,132)
Cash flows from financing activities
Payments of loan payable	(365,359)	87,502
Proceeds from private placement and convertible debt	0	200,000
Net cash from financing Activities	(365,359)	287,502
Increase (Decrease) in cash and cash equivalents	(114,972)	149,313
Cash and cash equivalents, beginning of year	180,514	31,201
Cash and cash equivalents, end of year	65,542	180,514
Supplemental information of cash flows:
Interest paid in cash	267,357	237,641
Income taxes paid in cash	$ 0	$ 0

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Capital Stock

12 Months Ended

Oct. 31, 2013

Capital Stock [Text Block]

4.	Capital Stock
	Share Issuances
	On August 23, 2013, the Company issued 160,000 restricted common shares to Carmel Advisors LLC for the purpose of public relations and corporate communications services, such shares were cancelled in the period subsequent to October 31, 2013 due to the cancellation of the service agreement.
	As at October 31, 2013 and 2012, Lexaria Corp. has 16,431,452 shares issued and outstanding.

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Supplemental Information On Natural Gas and Oil Exploration, Development and Production Activities (Tables)

12 Months Ended

Oct. 31, 2013

Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows [Table Text Block]

	USD$
Future cash inflows	15,301,046
Future production costs	(5,351,109	)
Future development costs	(1,131,516	)
Future net cash flows - undiscounted	8,818,421
10% annual discount for estimated timing of cash flows	(2,832,552	)
Standardized measure of discounted future net cash flows	5,985,869

Schedule of Proved Developed and Undeveloped Oil and Gas Reserve Quantities [Table Text Block]

			Natural	Crude Oil
	Crude Oil		Gas	Equivalents
	(MBbls)		(MMcf)	(MBbls)
Proved reserves:
Beginning of the year reserve	139.04		-	139.04
Adjustments of reserves in place	20.89		-	20.89
Productions	(15.88	)	-	(15.88	)
End of year reserves	144.05		-	144.05
Proved developed reserves:
Beginning of the year reserve	56.14		-	56.14
Adjustments of reserves in place	34.02		-	34.02
Productions	(15.88	)	-	(15.88	)
End of year reserves	74.28		-	74.28

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Subsequent Events (Narrative) (Details)	12 Months Ended
	Oct. 31, 2013 USD ($)	Oct. 31, 2013 CAD
Subsequent Events 1	$ 305,894
Subsequent Events 2	28.68%	28.68%
Subsequent Events 3	42.00%	42.00%
Subsequent Events 4	13.32%	13.32%
Subsequent Events 5	500,000	500,000
Subsequent Events 6	$ 0.06
Subsequent Events 7	30,000
Subsequent Events 8	$ 0.10
Subsequent Events 9		51,507.50
Subsequent Events 10	15.00%	15.00%
Subsequent Events 11	$ 4,292

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Supplemental Information On Natural Gas and Oil Exploration, Development and Production Activities

12 Months Ended

Oct. 31, 2013

Supplemental Information On Natural Gas and Oil Exploration, Development and Production Activities [Text Block]

14.	Supplemental Information On Natural Gas and Oil Exploration, Development and Production Activities (Unaudited):
	Standardized measure of discounted future net cash flows relating to proved oil and gas reserve quantities:
	The following summarizes the policies we used in the preparation of the accompanying natural gas and oil reserve disclosures, standardized measures of discounted future net cash flows from proved natural gas and oil reserves and the reconciliations of standardized measures from year to year. The information disclosed, as prescribed by the Statement of Financial Accounting Standards No. 69 (ASC 932), is an attempt to present the information in a manner comparable with industry peers.
	The information is based on estimates of proved reserves attributable to our interest in natural gas and oil properties as of October 31, 2013. These estimates were prepared by independent petroleum consultants. Proved reserves are estimated quantities of natural gas and crude oil which geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions.
	The standardized measure of discounted future net cash flows from production of proved reserves was developed as follows:

1.	Estimates are made of quantities of proved reserves and future periods during which they are expected to be produced based on year-end economic conditions.
2.	The estimated future cash flows are compiled by applying year-end prices of natural gas and oil relating to our proved reserves to the year-end quantities of those reserves.
3.	The future cash flows are reduced by estimated production costs, costs to develop and produce the proved reserves and abandonment costs, all based on year-end economic conditions.
4.	Future net cash flows are discounted to present value by applying a discount rate of 10%.

The standardized measure of discounted future net cash flows does not purport, nor should it be interpreted, to present the fair value of our natural gas and oil reserves. An estimate of fair value would also take into account, among other things, the recovery of reserves not presently classified as proved, anticipated future changes in prices and costs, and a discount factor more representative of the time value of money and the risks inherent in reserve estimates.

The standardized measure of discounted future net cash flows relating to proved natural gas and oil reserves is as follows:

	USD$
Future cash inflows	15,301,046
Future production costs	(5,351,109	)
Future development costs	(1,131,516	)
Future net cash flows - undiscounted	8,818,421
10% annual discount for estimated timing of cash flows	(2,832,552	)
Standardized measure of discounted future net cash flows	5,985,869

Year-end price per Bbl of oil used in making standardized measure determinations as of October 31, 2013 was $106.22.

Estimated Net quantities of Natural Gas and Oil Reserves:

The following table sets forth our proved reserves, including changes, and proved developed reserves at the end of October 31, 2013.

			Natural	Crude Oil
	Crude Oil		Gas	Equivalents
	(MBbls)		(MMcf)	(MBbls)
Proved reserves:
Beginning of the year reserve	139.04		-	139.04
Adjustments of reserves in place	20.89		-	20.89
Productions	(15.88	)	-	(15.88	)
End of year reserves	144.05		-	144.05
Proved developed reserves:
Beginning of the year reserve	56.14		-	56.14
Adjustments of reserves in place	34.02		-	34.02
Productions	(15.88	)	-	(15.88	)
End of year reserves	74.28		-	74.28