VANCOUVER, April 10, 2018 /CNW/ - Lightning Ventures Inc. (CSE: LVI) (the "Company" or "Lightning") is pleased to announce that a Lease Agreement has been executed between the Company and a Joint Venture formed between Oilengy Mexico S.A de C.V. and TADHAM Energy. Oilengy and TADHAM are service providers to Petróleos Mexicanos "Pemex" and Grupo Diavaz, S.A. de C.V. "Diavaz".
Under the terms of the Agreement, Lightning will provide 4 Lightning Hot Oil Trailers on a 24-month lease at US$7,500.00 per month per Trailer for a total contract value of US$720,000.00. The Trailers will provide services in 3 of the 454 production fields in Mexico. Two Trailers will be deployed at Campos Ebano, a Pemex production field located in the State of Tamaulipas. The additional Trailers will provide service in the Poza Rica and Villahermosa districts. The first Lightning Hot Oil Trailer will commence operations April 15, 2018 with the remaining three units delivered no later than June 30th, 2018.
Don Rainwater, CEO, stated: "In addition to Pemex, the petroleum production industry in Mexico now has over 12 international companies either currently operating or bidding on production fields. These include companies such as Chevron, ExxonMobil, Marathon Oil, Murphy, Premier Oil, and Japan Oil. This initial agreement firmly establishes Lightning's presence in Mexico and will allow Lightning to aggressively pursue additional sales with Pemex and the international operators."
About the Company
Lightning Ventures Inc. is an oil and gas industrial services company engaged in the manufacture and sale of products intended to enhance efficiency and increase the production of oil and gas wells.
Further information about Lightning Ventures is available under its profile on the SEDAR website www.sedar.com.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward looking statements. The company disclaims any intention or obligation to revise or update such statements.
SOURCE Lightning Ventures Inc.
For further information: on the Company, please contact: Donald Rainwater, Chief Executive Officer Lightning Ventures Inc., Telephone: 210-535-5700, Email: [email protected]