Lithium Exploration Group Places Order for Crude Oil Prototype
April 22 2014 - 8:51AM
Marketwired
Lithium Exploration Group Places Order for Crude Oil Prototype
SCOTTSDALE, AZ--(Marketwired - Apr 22, 2014) - Lithium
Exploration Group (OTCQB: LEXG) announced today that an order has
been placed with Sonic Cavitation for a Crude Oil
Prototype. The unit will be manufactured by the same partners
and with the same design specifications as the Ultrasonic Generator
currently being tested for water purification in Texas. It
will be delivered to Wardlow, Alberta, and used for testing
purposes at Tero Oilfield Services (a subsidiary of Alta Disposal
Ltd). The goal is to test the upgrading capabilities of the
unit on crude oil and to identify commercial opportunities for
future units. The expected delivery date at Tero of the unit
is in August, 2014.
"Our partners at Sonic Cavitation have made huge progress with
their manufacturing partners in Texas and are moving forward on
testing the existing unit for field capabilities in the water
purification space. The goal of this prototype will be to
initiate parallel testing for crude oil so that both markets can be
commercialized as soon as possible," commented CEO Alex
Walsh. "We were able to observe the technology in action in
February and are eager to see the unit running oil through it at
our Tero facility this summer."
About Lithium Exploration Group Lithium Exploration Group is a
US-based exploration and development company focused on the
acquisition and development potential of lithium brines and other
precious metals that demonstrate high probability for near-term
production. Currently the company is focused on its Western Canada
lithium assets, testing its Ultrasonic Generator Technology and the
acquisition of oil and gas related assets in Western Canada.
Lithium Exploration Group is a fully reporting company traded on
the OTCQB under the symbol LEXG. Website:
www.lithiumexplorationgroup.com.
Safe Harbor Statement This news release contains
"forward-looking statements". Statements in this press release that
are not purely historical are forward-looking statements and
include any statements regarding beliefs, plans, expectations or
intentions regarding the future testing of the ultrasonic
technology.
Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with
mineral exploration and difficulties associated with obtaining
financing on acceptable terms. We are not in control of lithium
prices and these could vary to make development uneconomic. These
forward-looking statements are made as of the date of this news
release, and we assume no obligation to update the forward-looking
statements, or to update the reasons why actual results could
differ from those projected in the forward-looking statements.
Although we believe that the beliefs, plans, expectations and
intentions contained in this press release are reasonable, there
can be no assurance that such beliefs, plans, expectations or
intentions will prove to be accurate. Investors should consult all
of the information set forth herein and should also refer to the
risk factors disclosure outlined in our most recent annual report
for our last fiscal year, our quarterly reports, and other periodic
reports filed from time-to-time with the Securities and Exchange
Commission.
Contact Info Shanon Chilson 480-641-4790
info@lithiumexplorationgroup.com