Spike in Oil Prices Has Huge Immediate Impact for Lithium Exploration Group

PHOENIX, April 12, 2018 (GLOBE NEWSWIRE) -- Via OTC PR Wire – Lithium Exploration Group (USOTC:LEXG) is already seeing an immediate and direct benefit from the recent spike in oil and gas prices for multiple reasons. 

  • The company has a royalty interest in the future development of a significant oil and gas opportunity in Louisiana, and the spike in oil and gas prices has a direct impact on the projections of future cash flow streams from the investment made in May of 2017. 
  • The company has been incubating a blockchain concept that will make it substantially easier and more transparent for investors who are not part of the oil and gas ecosystem to participate in investment opportunities.  Providing greater transparency and access to outsiders is paramount to the business, but rising oil prices will be the main driver of interest as we attempt to proliferate the Black Box Blockchain. 
  • The company still has interest in a Pennsylvania oil and gas project, which had stalled in 2017 but is believed to be close to getting financed. This will provide an opportunity to recoup that investment and improve the company’s balance sheet. 

“The Louisiana oil project is our primary focus today because it is in the final closing stages and is a huge part of our plan to pay down debt and eliminate our need for outside financing.  Unfortunately, I cannot release projected numbers of the potential cash distributions to the public until the development begins.  I will say that the spreadsheets I am looking at from my desk show the ability to fully fund the company operations for a decade and retire all of our outstanding liabilities at $60 oil and anything above that is found money,” commented CEO Alex Walsh.  “In the past few days I have had a number of inbound calls from folks in the oil and gas industry asking how they could potentially partner with Black Box Energy on other projects going forward because they see the immense value in the royalty stream that could come into our public company.  Each of our business units has such an exciting future.  The near-term and long-term potential is immense and I’m happy to be able to bring this news to our long-time shareholders and the rest of the public.”

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 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