LITHIUM EXPLORATION GROUP BENEFITS FROM CONTINUED CRUDE OIL BULL MARKET
January 04 2018 - 9:00AM
InvestorsHub NewsWire
Lithium Exploration Group Benefits from Continued Crude Oil
Bull Market
Phoenix, AZ January 4, 2018 Lithium Exploration Group
(USOTC: LEXGD) announced today that the
financing of the White Top project in Louisiana continues to progress nicely.
The initial data scrubbing on the seismic data is complete, with
the time depth migration expected by the end of January. The
independent consultant will be meeting with the whole team again
in Houston on January 17 to get a final
update of the seismic results and update the report and
findings.
Crude oil prices
have risen more than $10 per barrel over the past
few months,
and continue to
climb higher which has substantially
increased the overall value of the royalty LEXG
controls. Once the seismic data is fully processed, the company
intends to have another independent reserve report completed to
place a value on the future cash flows, with the goal of adding
that asset to its balance sheet.
"The team
in Houston continues to work on the
closing documents with their lead investor. Their hope is to begin
the development drilling in February," commented CEO Alex Walsh.
"The price of oil is up over 20% since we made the investment last
spring, and the steady increase in the price of oil over the past
few months has been a true blessing that we hope to see turn into
substantial cash distributions this year."
Independent
Analysis of White Top Seismic Data
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 testing
the Sonic Cavitation Ltd. technology and the acquisition of oil and
gas related assets in the US and Canada. Lithium Exploration Group is
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