Lithium Exploration Group to Invest in Oil Well

15 Sep 12 Sept, 2016

Lithium Exploration Group Inc. (LEXG) finalized an agreement on 9th September, 2016 to fund the drilling of an oil well in McKean County, Pennsylvania. The agreement provides for 100% of the net revenue to come back to the company until 100% of its investment is recouped. After the company has been paid back, the operator will participate in 50% of the distribution. The initial payment was made on 9th September, 2016, with the balance of the funding to be made on or before 16th September, 2016.

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