|By Marketwired .||
|March 7, 2014 08:15 AM EST||
SCOTTSDALE, AZ -- (Marketwired) -- 03/07/14 -- Lithium Exploration Group Inc. (OTCQB: LEXG) CEO addresses shareholders with his monthly newsletter:
Last month began with the successful testing of the ultrasonic generator unit in Houston. The same day that the testing was taking place, we received notification that our Morinville facility had been upgraded from Class 2 to limited Class 1b. So February started out pretty well.
The following week, the Morinville facility was upgraded to limited Class 1a status, with full Class 1b status. This means we are able to market a significantly expanded suite of disposal options to potential customers, and all of these additional options command higher pricing than standard Class 2 produced water.
Two weeks ago, there happened to be a diesel spill on a highway in the region requiring the disposal of thousands of tons of contaminated water and, as a local site with our newfound regulatory approvals, we were ready to fill that order. Then last week we got another call from a new customer with a significant amount of high dollar waste needing a home. Our new approvals allow us to take it. Six weeks ago, we would have had to turn all of these opportunities away.
Without the final numbers in, I hesitate to discuss exact amounts but I feel comfortable saying that in the month of March alone we will achieve more revenue than we projected for the first six months of 2014. We intentionally modeled only a Class 2 revenue stream for the first six months of 2014 and have set a cap on the amount of fluid we are willing to dispose at Morinville until we get six months of injectivity pressure testing. We think of this well as a gold mine and want to ensure that we treat it properly so that it can produce revenue for us for decades to come. If we get too aggressive too soon, we run the risk of damaging the integrity of the formation and the well.
We spent the last ten days of February rounding up the required capital to close on the transaction to purchase 50% of the outstanding shares of Tero Oilfield Services. We have spent the past six months working with the management of Tero to improve some operational performance metrics which have gone very well. Their books are not yet GAAP compliant so unfortunately I cannot discuss their 2013 financial performance but I can say that we are extremely excited to have completed this transaction.
Tero Oilfield Services is a Class 1b liquid disposal and solid waste processing facility. One of the plans that we have made with our partners is to expand their facility to offer custom treating of oil (treating producer's oil to make it pipeline-ready) for some of the smaller operators in their addressable market. They have already taken steps to begin this process with a few of their customers and, after a few months of this "custom treating trial," we will make a decision regarding the prospects of expanding the facility to accept larger volumes. Tero has a great team on site and we believe that, with a little bit of help from our team at Alta Disposal, this facility can be a considerable thorn in the side of the larger competition in the area.
Financially we have assembled a team of people in Calgary and a set of assets (Morinville and Tero) that will allow us to operate profitably on a go forward basis while we wait for the technology to be field-tested and prepared for mass distribution; but I don't see us resting on our laurels at this stage in the game.
- We will be looking at more acquisitions of disposal facilities with the following criteria:
- That we can provide needed back office support from Calgary (bookkeeping, production accounting, regulatory and safety programs, etc.).
- That we can improve revenue via sales and marketing efforts of our own.
- That we can assist in adding additional product offerings to their clientele.
- We will continue to develop the strategy for extraction of lithium, potassium, magnesium and other industrial minerals from oilfield brine. Timing will be dependent on the deployment of the technology to the field and performance results but there certainly is work that we can begin now to prepare for a bench scale test of our separation technique.
- We are already looking at the distribution of additional technologies that are trying to find a home in the Western Canadian energy ecosystem. We will add these products to the "technology distribution" arm of the business (to go along with the distribution rights we have in Canada for the ultrasonic generator). These technologies need some field testing which we can provide at our disposal facilities and they need a talented sales force to manage the strategy and deployment.
- We are going to get into the production side of the oil and gas industry. It is just a matter of when and where. We are not actively looking for assets but if we find the right asset with the right management team, we will not hesitate to pull the trigger on an acquisition.
We feel pretty excited about the growth opportunity that we have in front of us and I thank you all for the opportunity to serve as your Chief Executive. We have so many things going on right now that I will be distributing a letter of this kind in the first week of every month for the foreseeable future.
Lithium Exploration Group, Inc.
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 its Western Canada lithium assets, testing its Ultrasonic Generator Technology and the acquisition of oil and gas related assets in Western Canada. Lithium Exploration Group is a fully reporting company traded on the OTCQB 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.
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
Aug. 28, 2016 03:00 PM EDT Reads: 714
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
Aug. 28, 2016 01:45 PM EDT Reads: 3,639
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Aug. 28, 2016 01:00 PM EDT Reads: 2,407
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Aug. 28, 2016 12:15 PM EDT Reads: 827
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
Aug. 28, 2016 11:45 AM EDT Reads: 655
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Aug. 28, 2016 11:30 AM EDT Reads: 1,943
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...
Aug. 28, 2016 11:00 AM EDT Reads: 670
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Aug. 28, 2016 11:00 AM EDT Reads: 3,114
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
Aug. 28, 2016 10:45 AM EDT Reads: 820
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Aug. 28, 2016 10:30 AM EDT Reads: 4,018
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...
Aug. 28, 2016 10:30 AM EDT Reads: 876
StarNet Communications Corp has announced the addition of three Secure Remote Desktop modules to its flagship X-Win32 PC X server. The new modules enable X-Win32 to safely tunnel the remote desktops from Linux and Unix servers to the user’s PC over encrypted SSH. Traditionally, users of PC X servers deploy the XDMCP protocol to display remote desktop environments such as the Gnome and KDE desktops on Linux servers and the CDE environment on Solaris Unix machines. XDMCP is used primarily on comp...
Aug. 28, 2016 09:30 AM EDT Reads: 709
Enterprises have forever faced challenges surrounding the sharing of their intellectual property. Emerging cloud adoption has made it more compelling for enterprises to digitize their content, making them available over a wide variety of devices across the Internet. In his session at 19th Cloud Expo, Santosh Ahuja, Director of Architecture at Impiger Technologies, will introduce various mechanisms provided by cloud service providers today to manage and share digital content in a secure manner....
Aug. 28, 2016 09:30 AM EDT Reads: 762
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, wil...
Aug. 28, 2016 07:30 AM EDT Reads: 780
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
Aug. 28, 2016 03:30 AM EDT Reads: 2,366