LiTHOS Energy Ltd (CSE: LITS) (OTCQB: LITSF) announced that the Company’s wholly owned subsidiary Reservoir Imaging Solutions (“RIS”) finalized its non-audited December 31, 2022 year end financials and delivered C$1,187,412(US$870,845) in revenue, C$268,823 ($197,154) of gross income, and a net profit of C$91,896 (US$67,396). The financials of RIS will be audited and then included on the consolidated financial statements of the Company in due course.

In 2022, RIS’s largest customer was Devon Energy Corporation (NYSE: DVN). RIS also delivered successful demonstration projects in 2022 with Halliburton Company (NYSE: HAL) EOG Resources Inc. (NYSE: EOG) and Hess Corporation (NYSE: HES).

Q3 of 2023 has seen substantial customer growth by adding Occidental Petroleum Corp. (NYSE: OXY), ExxonMobil Corp. (NYSE: XOM), and SM Energy Co. (NYSE: SM) as paying customers under contract.

RIS sells a niche proprietary technology into the unconventional energy space called Conductive Fracture Imaging (“CFI”). CFI enables direct imaging of the conductive portion of hydraulic fractures using passive microseismic events as active sources. CFI provides a high-resolution image of the inner part of a conductive reservoir zone. It allows one to look inside a reservoir with a precision of 2 meters. CFI is most widely used to image the hydraulic and conductive fracture geometries in unconventional reservoirs in the United States. CFI is also applicable to other energy verticals such as: (i) imaging the production of lithium from highly conductive continental brine reservoirs (ii) imaging the production from induced fractures from enhanced geothermal reservoirs and (iii) imaging and verifying containment for Carbon Capture Utilization and Storage (“CCUS”) projects.

Scott Taylor, CEO of stated: “CFI is a highly differentiated technology that permits cost-effective, direct imaging of the conductive regions of any fluid filled reservoir. We are pleased with the customer growth and look forward to delivering successful projects in new verticals like geothermal, CCUS, and imaging production from lithium enriched continental brines.Click HERE to read more. 

Watch the video below to learn more about LiTHOS 

Other lithium mining related stocks to place on top of radar include Albemarle Corporation (ALB),  Sociedad Quimica y Minera de Chile (SQM), Mineral Resources Limited (MALRY), Livent Corporation (LTHM), Lithium Americas Corp. (LAC), Sigma Lithium Corporation (SGML), Ganfeng Lithium Group Co., Ltd. (GNENF), Pilbara Minerals Limited (PILBF).

About LiTHOS Energy Ltd.

The Company’s mission is to deliver sustainable lithium production without the use of evaporation ponds. Our wholly owned subsidiary Aqueous is a US Department of Energy FAST TRACK grant Winner and a Colorado Advanced Industries grant winner. AcQUA™ is our patent-pending electro-pressure membrane process and method for recovery and concentration of lithium chloride from aqueous sources. This process spans the pre-treatment of raw brines through the DLE concentration of lithium chloride. We have a fully commissioned brine processing facility in Denver, Colorado. The Company is currently focused on processing continental brines from several strategic resource owners located in the United StatesArgentina, and Chile. The Company’s common shares trade on the OTCQB under the symbol “LITSF” And continue to trade on the CSE Exchange under the symbol “LITS”

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