Phoenix, AZ - October 21, 2014 - InvestorsHub NewsWire - On
Wednesday of last week, Lithium Exploration Group, Inc. (OTCQB:
LEXG) filed its annual Form 10K. In Note 14 of the
Financial Statements, the revenue from operations at Tero Oilfield
Services (“Tero”) is reported. From March through June 2014,
Tero generated $408,714 from operations. It is expected that
third and fourth quarter financial statements will show an
additional increase in revenue.
“Traditionally the revenue generated in the second half of the
calendar year is much stronger than the first half of the year,
because of harsh winter conditions in Q1 and in the months of April
and May they go through what is called “break up” where the ground
thaws, making many remote facilities inaccessible. If
trucking companies can’t gather the waste, they can’t bring it to
Tero,” commented CEO Alex Walsh. “In the summer months and
through the fall, companies are very active in cleaning out dirty
tanks and doing a lot of maintenance work that goes above and
beyond day-to-day production. We will be filing our 10Q in
the coming weeks and are excited for what should be a strong finish
to 2014.”
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
Tom Nelson
480-326-8577
info@lithiumexplorationgroup.com