Higher Oil Prices Spark Activity and Demand in Canadian Oil
Markets
Phoenix, AZ
--
May
17,
2018 -- InvestorsHub NewsWire
-- Lithium Exploration
Group (USOTC:
LEXG) is already benefiting from oil price
increases from turmoil in the Middle East. The company is seeing a
substantial increase in oil and gas activity in Western Canada
which has led to several new discussions regarding commercial
orders for the SonCav ultrasonic generator to be used
as a heat treater to separate the oil, gas, and water.
"The Canadian oil patch has
been hit pretty hard over the past few years but at $70 oil there
is a lot of wells coming back on line and a lot of new drilling
activity in Alberta and the surrounding provinces," commented CEO Alex Walsh.
"These producers are motivated to get something in place before
winter and we are exploring options on how they could make orders
now and take delivery in the fall."
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