Spike in Oil Prices Has Huge
Immediate Impact for Lithium
Exploration Group
Phoenix, AZ
-- April
12,
2018 -- InvestorsHub NewsWire
-- Lithium Exploration Group
(USOTC: LEXG) is already seeing an immediate
and direct benefit from the recent spike in oil and gas prices for
multiple reasons.
- The company has
a royalty interest in the future development of a
significant oil and gas
opportunity in Louisiana, and the spike in oil and gas
prices has a direct impact on the projections of future cash flow
streams from the investment made in May of 2017.
- The company has
been incubating a
blockchain concept that will make it substantially
easier and more transparent for investors who are not part of the
oil and gas ecosystem to participate in investment opportunities.
Providing greater transparency and access to outsiders is paramount
to the business, but rising oil prices will be the main driver of
interest as we attempt to proliferate the Black Box
Blockchain.
- The company
still has interest in a Pennsylvania oil and gas
project, which had stalled in 2017 but
is believed to be close to getting financed. This will provide an
opportunity to recoup that investment and improve the company's
balance sheet.
"The Louisiana
oil project is our primary focus today because it is in the final
closing stages and is a huge part of our plan to pay down debt and
eliminate our need for outside financing. Unfortunately, I cannot
release projected numbers of the potential cash distributions to
the public until the development begins. I will say that the
spreadsheets I am looking at from my desk show the ability to fully
fund the company operations for a decade and retire all of our
outstanding liabilities at $60 oil and anything above that is found
money," commented CEO Alex Walsh. "In the past few days I have had
a number of inbound calls from folks in the oil and gas industry
asking how they could potentially partner with Black Box Energy on
other projects going forward because they see the immense value in
the royalty stream that could come into our public company. Each of
our business units has such an exciting future. The near-term and
long-term potential is immense and I'm happy to be able to bring
this news to our long-time shareholders and the rest of the
public."
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
sales and
distribution of 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