Lithium Exploration Group
Explores Expanded Oil and Gas Opportunity
November 29, 2016 - InvestorsHub Newswire - Phoenix, AZ -
Lithium Exploration Group Inc. (OTCPINK:
LEXG) announced today that it is exploring an expanded role in
the McKean County oil and gas project. The company has already
funded one well, which is to be drilled, but there are two other
wells, which were required to be funded by another group, before
drilling can begin. Due to the other groups inability to fund the
final two wells, Lithium Exploration Group has the opportunity to
take control of the additional wells.
We are in an interesting position: the inability of one group to
fund their wells has unexpectedly caused a gift to fall in our lap.
This is an amazing opportunity caused by the distress in the oil
markets, commented CEO Alex Walsh. Two years ago, and two years
from now, this type of investment would have been significantly
more expensive. I have been in discussion with a few different
funding sources that have interest, pending an independent
engineering analysis of the project. I hope to have that process
complete by the end of this week. This is a significant opportunity
for LEXG.
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 testing the SonCav Oil Unit and the
acquisition of oil and gas related assets. 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