PHOENIX, AZ / ACCESSWIRE / December 21, 2016 / Lithium Exploration Group Inc. (OTC PINK: LEXG) CEO Alex Walsh updates shareholders on company activities.
Dear Shareholders,
Our testing last week in Texas went well. This was the fourth testing trip since we began this process in August, and the unit continues to operate without mechanical failure. We had our third-party engineering firm on site to collect operating data, as well as collect their own samples for testing. We also had a representative on site from a local university who took samples and gathered his own operating data. Both groups were impressed with the operations and have been very helpful in identifying additional industry applications for the Oil Unit.
We expect to have both of these reports in hand by the end of the month. My hope is to be able to post portions of these reports on our website for public consumption, but we still need to discuss this with our partners at Sonic Cavitation Ltd. Once we have had a chance to look at the reports and decide what needs to be kept confidential as trade secrets, we will be able to make a determination. Regardless of how much information we are able to share with the public, these engineering reports will be very helpful in building relationships with potential customers and other efforts to raise capital to further the commercialization efforts.
Our efforts now are going to be directed towards customer acquisition in Q1. We have a very good handle on how the unit will perform and have identified multiple field applications that are much needed in the marketplace:
- Separator Package: This unit has the capabilities to be set up at a small tank battery to assist in separating the oil, water, and gas that comes out of the ground from an oil well.
- Separating oil from water and gas is a critical step in all oil and gas operations. The unit, as designed, can assist in doing that while providing a small footprint and running on electricity. Almost all units used in the field today use a form of natural-gas-fired boiler to heat and separate oil.
- Tank Heating and Circulation: This unit can plug into an existing tank farm to assist in heating the oil and circulating it before it is shipped.
- Circulation and heating are critical to reduce residue buildup in tanks from heavier oils and oil that contains high levels of paraffin. Today, natural gas boilers and large centrifuges are used to perform this activity while the Oil Unit will perform the function of both.
There is a common theme in all of our near term efforts to penetrate the marketplace: electrical power consumption and zero emissions. The days of burning endless amounts of natural gas to operate plants in the oil patch are coming to an end. This technology, by harnessing a naturally occurring cavitation and ultrasonic soundwaves, is well on its way to disrupting long-standing norms in the industry. The largest oil and gas companies on earth are constantly looking for ways to reduce their carbon footprint because, regardless of President-Elect Trumps plans with the EPA, they operate global businesses and must abide by each country's environmental standards. The rights that our company possesses to this technology are in Canada, and Canadian environmental regulations are extremely focused on these types of zero emissions efforts.
The first step of our process has been accomplished. We have shown that, with the minimal electrical usage of running a 150HP motor, we can heat oil well in excess of 300 degrees Fahrenheit. The next step is to work with end users to identify the acute problems that this technology can solve and start deploying units to work on those issues.
Happy Holidays from LEXG!
Sincerely,
Alex Walsh
CEO
Lithium Exploration Group
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 OTCPINK 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
SOURCE: Lithium Exploration Group Inc.
