Lithium Exploration Group Identifies Oil Investment
Phoenix, AZ -- May 10, 2016 -- InvestorsHub NewsWire --
Lithium Exploration Group Inc. (OTCPINK:
LEXG) announced today that it has identified an opportunity to
invest in an oil and gas property. The company has been looking for
opportunities to invest in distressed oil properties for the past
few months. The project will give the company control of a small
field where it will derive 100% of the revenue proceeds until the
investment is paid back, and will then keep 75% of the revenue for
the life of the wells. The company is in discussions with investors
now about funding the investment via a subsidiary, giving the
investors security over the assets until the debt is retired.
These types of opportunities didnt exist 18 months ago. It is an
amazing chance to buy into the oil and gas space at a low price and
participate in assets that are profitable even at these
historically low levels, commented CEO Alex Walsh. The oil unit and
water units are both getting prepared for testing at different
locations outside of Houston. I will be providing a more detailed
update later this week on both fronts, but things are really
kicking into gear.
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 OTC Markets 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