TEMPE, Arizona, February 28, 2017 /PRNewswire/ --
Lithium Exploration Group Inc. (USOTC: LEXG) today announced that it is in discussions with an oil and gas producer to take the first commercial order of a Sonic Cavitation Ltd Ultrasonic Generator later this year. The customer was on site last week to witness the latest round of oil testing and their field team has already had follow-up discussions with representatives from LEXG. The customer believes that this technology can reduce its need for chemicals to induce the liquid separation, in addition to potential assistance in tank treating. The current plan is to deploy a skidded package in Q3 to their facility where they will pay per barrel of treated fluid at one of their locations.
"We are excited that they were able to witness the unit in operation last week. They feel that the reduction in chemicals and the reduction in burner use in their treater will be more cost effective than the manner in which they are running their field today," commented CEO Alex Walsh. "There are so many environmental advantages to the way that we propose to treat field oil, but to get the product to market we still need to show that it is economically more efficient than traditional applications. We are initiating the design process right now and intend to build a skid-mounted unit that would be repeatable for other customers and applications."
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 its SonCav Technology and the acquisition of oil and gas related assets in Western Canada. Lithium Exploration Group is traded on the OTC Markets under the symbol LEXG.
Website: http://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.
SOURCE Lithium Exploration Group Inc.