Larry Oakley's Comment

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Current Larry Oakley's Comment:

Date Posted: 08/15/14

Lithium Exploration Group (OTC QB: LEXG)

LEXG, one of our clients, has updated shareholders on production volumes at its Wardlow facility

Comment

Before I give the update contained in LEXG’s news release published on 8/11/2011, here is a note that you may find interesting:

The news release mentions that 316,722 barrels were handled by part of LEXG during the very slow season of January through June due to bad weather. That volume, near the current market price of $1.25 equates to over $395,000. Based on doing far better during the last half of the year when weather conditions are much better, one might figure that LEXG could possibly generate over $1,000,000 revenue this year from this facility alone.

Here’s the Text of LEXG’s News Release

LEXG recently updated shareholders via a news release issued 8/11/2014 on the disposal volumes at Tero Oilfield Services. Tero disposed of an average monthly volume of 6,299 cubic meters of Class 2 & Class 1b fluids for the first six months of the calendar year (January through June). In fluid barrels that is the equivalent cumulative disposal volume of 316,722 barrels of third-party fluid. This does not include the additional solid waste processing volumes or skim oil production for the same time period.

In March of this year, LEXG acquired 50% of Tero Oilfield Services (Wardlow Facility) with an option to acquire an additional 25% before March 2015. As reported previously, the facility is also in the process of expanding its product offering to include the treatment of third-party oil, on which it hopes to have final approval in the 4th quarter.

"We are very proud of Tero's performance in the first six months of this year, particularly because the first two quarters are traditionally slower than the final two quarters. They had to deal with one of the harshest winters on record, & April & May are always slow because access to remote sites is limited while the ground thaws during what is known in Alberta as 'break up,’ ” commented CEO Alex Walsh. "Last year Tero did twice as much volume in the second half of the year. If that trend continues, this will be a banner year for its operation. We are lucky to have such good partners as operators of that facility, & we look forward to it being the flagship of our disposal business for years to come.”



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