Lithium Exploration Group Inc (OTCMKTS:LEXG) Has Potential But Needs To Deliver
The positive news regarding the new SonCav Technology developed by Lithium Exploration Group Inc (OTCMKTS:LEXG) continues to indicate a favorable outlook for its application for providing possible solutions to solving long-standing water pollution problems that have plagued the oil drilling industry.
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 the Sonic Cavitation Ltd. technology and the acquisition of oil and gas related assets in the US and Canada.
Lithium Exploration Group has initiated prototype testing of its SonCav Technology on water feedstock while the first commercial oil unit is being produced.
A team from Texas A&M Corpus Christis Core Isotope Lab has been engaged to perform the laboratory analysis of the water samples.
Lithium Exploration Group’s CEO Alex Walsh commented: “The ability to eliminate these harmful organic biological compounds from wastewater streams is a huge part of the long-term initiative that Sonic Cavitation LTD has for their technology.
The degradation of organics in fluid is critical to many industries and humanitarian efforts and, with the help of the folks at TAMU-CC, we will be able to point to some very specific problems that we can solve as we hit the market.” In other recent news, Lithium Exploration Group announced on June 14, 2017, that its partners at White Top Oil and Gas have discovered an overhang on the edge of a salt dome at the Company’s Louisiana oilfield that has 800 feet of prospective oil pay at a depth of only 3,000 feet.
In conjunction with the Louisiana oilfield discovery, Lithium Exploration Group announced on June 15, 2017 that its partners at White Top Oil and Gas have reached a verbal agreement on a $14 million investment that would fund the final acquisition of the field in Louisiana, and fund the first six drilling targets.
According to Lithium Exploration Group’s CEO Alex Walsh: “as soon as the acquisition is finalized, we begin to collect checks on our 3% overriding royalty.
However, until the new technology translates to revenues, LEXG will remain in the “wait and see column.” We will keep a close eye on the development of the SonCav Technology.