LRDC

Laredo Oil Announces Permit Issuance for Midfork Well

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火曜日, 4月 30, 2024
OTC Markets Group, LRDC, HCC

AUSTIN, Texas, April 30, 2024 /PRNewswire/ -- Laredo Oil, Inc. ("Laredo Oil") (OTC Pink Sheets: LRDC), announces that the State of Montana issued to Hell Creek Crude, LLC, a wholly-owned subsidiary of Laredo Oil ("HCC"), a permit to drill the Reddig 11-21 well in the Midfork field located in Valley County, Montana.

Key Points: 
  • AUSTIN, Texas, April 30, 2024 /PRNewswire/ -- Laredo Oil, Inc. ("Laredo Oil") (OTC Pink Sheets: LRDC), announces that the State of Montana issued to Hell Creek Crude, LLC, a wholly-owned subsidiary of Laredo Oil ("HCC"), a permit to drill the Reddig 11-21 well in the Midfork field located in Valley County, Montana.
  • This well is the first of three production wells planned to be drilled and operated by HCC in the Midfork field.
  • According to Mark See, Chairman and CEO of Laredo Oil, "This permit issuance now allows HCC to quickly move ahead with developing what we expect to be multiple wells in the Midfork area.
  • The expectation is that the Reddig 11-21 well will spud in early June of 2024 and be in production by mid-summer."

Laredo Oil Announces that Texakoma Exercised its Option to Drill Eight Additional Wells under Existing Development Agreement

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木曜日, 3月 14, 2024
OTC Markets Group, LRDC, Erewhon, Exercise

AUSTIN, Texas, March 14, 2024 /PRNewswire/ -- Laredo Oil, Inc. ("Laredo Oil") (OTC Pink Sheets: LRDC), announces that Texakoma Exploration and Production, LLC ("Texakoma") exercised its option to drill the next eight wells under its agreement with Lustre Oil Company, LLC, a wholly-owned subsidiary of Laredo Oil ("Lustre"), and Erehwon Oil & Gas, LLC ("Erehwon") to participate in the development of 7,375 net acres of mineral rights in Valley County, Montana (the "Contract Area").

Key Points: 
  • AUSTIN, Texas, March 14, 2024 /PRNewswire/ -- Laredo Oil, Inc. ("Laredo Oil") (OTC Pink Sheets: LRDC), announces that Texakoma Exploration and Production, LLC ("Texakoma") exercised its option to drill the next eight wells under its agreement with Lustre Oil Company, LLC, a wholly-owned subsidiary of Laredo Oil ("Lustre"), and Erehwon Oil & Gas, LLC ("Erehwon") to participate in the development of 7,375 net acres of mineral rights in Valley County, Montana (the "Contract Area").
  • After these eight wells are developed, Texakoma can continue to drill additional wells within the Contract Area with the working and net revenue interest for each well being on a 50/50 basis between Texakoma, on one hand, and Lustre and Erehwon, on the other hand.
  • According to Mark See, Chairman and CEO of Laredo Oil, "This option exercise is a vote of confidence from Texakoma and confirms the potential of our mineral rights in Valley County.
  • This is an exciting time for Laredo Oil!"

Laredo Oil, Inc. Announces Agreement to Settle Litigation with A&S Minerals Development Company, LLC

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月曜日, 3月 11, 2024
Lustre, OTC Markets Group, LRDC, Settlement, ASMD

AUSTIN, Texas, March 11, 2024 /PRNewswire/ -- Laredo Oil, Inc. (OTC Pink Sheets: LRDC), an exploration and production company (the "Company"), today announced that Lustre Oil Company  LLC ("Lustre"), a wholly owned subsidiary of the Company, has entered into a mutually agreeable Settlement  Agreement between Lustre, Erehwon Oil & Gas, LLC ("Erehwon"), and A&S Minerals Development Company, LLC  ("ASMD"), (the "Settlement Agreement").

Key Points: 
  • AUSTIN, Texas, March 11, 2024 /PRNewswire/ -- Laredo Oil, Inc. (OTC Pink Sheets: LRDC), an exploration and production company (the "Company"), today announced that Lustre Oil Company  LLC ("Lustre"), a wholly owned subsidiary of the Company, has entered into a mutually agreeable Settlement  Agreement between Lustre, Erehwon Oil & Gas, LLC ("Erehwon"), and A&S Minerals Development Company, LLC  ("ASMD"), (the "Settlement Agreement").
  • The confidential Settlement Agreement contains an undisclosed cash amount and settles the quiet title dispute between the parties.
  • According to Mark See, Chairman and CEO of the Company, "This agreement amicably settles the dispute between Lustre, Erehwon and ASMD regarding ownership of mineral rights in Valley County, Montana and provides clear title to both parties regarding their mineral rights.
  • I feel this settlement positively resets our relationship with ASMD and we look forward to working with ASMD as we develop our mineral rights in the area.

Laredo Oil, Inc. Announces Agreement to Drill Up to Three Wells in Montana

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月曜日, 1月 22, 2024
OTC Markets Group, Erewhon, HCC, Participation, Investment, Acquisition, LRDC, Security (finance)

The Participation Agreement will initially provide $2,034,000 million in cash to fund the drilling of a development well and the acquisition of certain leases currently held by Lustre Oil Company, LLC, a wholly owned subsidiary of the Company, in the Midfork Field in Montana.

Key Points: 
  • The Participation Agreement will initially provide $2,034,000 million in cash to fund the drilling of a development well and the acquisition of certain leases currently held by Lustre Oil Company, LLC, a wholly owned subsidiary of the Company, in the Midfork Field in Montana.
  • Several of the participating investors also hold $575,000 in the Company's convertible debt, plus accrued interest, which investments are included as investments under the Participation Agreement.
  • After the repayment to the investors, the split between the investors and HCC and Erehwon will be on a 50%/50% basis.
  • After the development well is drilled, the investors have the option to invest in up to two additional wells in the field.

Laredo Oil, Inc. Announces Discovery of Free Oil in Connection with Agreement with Texakoma Exploration and Production

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火曜日, 12月 5, 2023
Exercise, Porosity, LRDC, OTC Markets Group, Calendar, Oil, Cryptocurrency

AUSTIN, Texas, Dec. 5, 2023 /PRNewswire/ -- Laredo Oil, Inc. (OTC Pink Sheets: LRDC), an exploration and production company ("Laredo Oil") today announced the discovery of "free oil" in the second of two wells drilled by Texakoma Exploration and Production, LLC ("Texakoma") under the agreement between Lustre Oil Company, LLC (a wholly-owned subsidiary of Laredo Oil) and Texakoma.

Key Points: 
  • AUSTIN, Texas, Dec. 5, 2023 /PRNewswire/ -- Laredo Oil, Inc. (OTC Pink Sheets: LRDC), an exploration and production company ("Laredo Oil") today announced the discovery of "free oil" in the second of two wells drilled by Texakoma Exploration and Production, LLC ("Texakoma") under the agreement between Lustre Oil Company, LLC (a wholly-owned subsidiary of Laredo Oil) and Texakoma.
  • The agreement with Texakoma covers Texakoma's participation in the exploration and development of 7,375 net acres of mineral rights in Valley County, Montana (the "Contract Area").
  • We believe that the data will incentivize Texakoma to exercise its option to drill the eight additional wells.
  • Once those wells are producing, I expect Laredo Oil will reach a net positive operating cash flow position in calendar 2024."

Laredo Oil Subsidiary Enters Into Agreement with Texakoma

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金曜日, 7月 21, 2023
Calendar, OTC Markets Group, LRDC, Potash, Cryptocurrency, Floral industry

AUSTIN, Texas, July 21, 2023 /PRNewswire/ -- Laredo Oil, Inc. ("Laredo Oil") (OTC Pink Sheets: LRDC), announces that Lustre Oil Company, LLC (a wholly-owned subsidiary of Laredo Oil) entered into an agreement with Texakoma Exploration and Production, LLC ("Texakoma") for it to participate in the exploration and development of 7,375 net acres of mineral rights in Valley County, Montana ("Contract Area").

Key Points: 
  • AUSTIN, Texas, July 21, 2023 /PRNewswire/ -- Laredo Oil, Inc. ("Laredo Oil") (OTC Pink Sheets: LRDC), announces that Lustre Oil Company, LLC (a wholly-owned subsidiary of Laredo Oil) entered into an agreement with Texakoma Exploration and Production, LLC ("Texakoma") for it to participate in the exploration and development of 7,375 net acres of mineral rights in Valley County, Montana ("Contract Area").
  • After the first ten wells are developed, Texakoma has an option to drill additional wells within the Contract Area with the working and net revenue interest for each well on a 50/50 basis.
  • Following the contemplated transaction, Laredo retains a 100% leasehold interest and full control of an additional 30,556 net mineral acres in northeastern Montana at the western edge of the Williston Basin.
  • According to Mark See, Chairman and CEO of Laredo Oil, "This agreement brings a major industry player to Valley County and confirms the viability of our mineral rights there.

Laredo Oil, Inc. Announces Permits to Drill

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木曜日, 8月 18, 2022
OTC Markets Group, CEO, GLOBE, Private Securities Litigation Reform Act, SEC, Sumathi Best Television Current Reporting Award, LLC, Annual report, Acquisition, Nature, Intention, Time, LRDC, Oil, Risk management

We are currently working with Dawson James, our investment banker, on obtaining the financing we need to develop these two new wells, said Mark See, Laredo Oils chairman and CEO.

Key Points: 
  • We are currently working with Dawson James, our investment banker, on obtaining the financing we need to develop these two new wells, said Mark See, Laredo Oils chairman and CEO.
  • Laredo Oil, Inc. ( www.laredo-oil.com ) is an oil exploration and production company primarily engaged in acquisition and exploration efforts for mineral properties.
  • In addition to pursuing conventional oil recovery methods in selected oil fields, Laredo Oil plans to locate and acquire mature oil fields, with the intention of recovering stranded oil using enhanced recovery methods.
  • Laredo Oils common stock is listed on the OTC Pink Sheets under the symbol LRDC.

Laredo Oil, Inc. Announces Acquisition of Additional Mineral Rights

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月曜日, 8月 15, 2022
OTC Markets Group, CEO, GLOBE, Private Securities Litigation Reform Act, SEC, Sumathi Best Television Current Reporting Award, LLC, Annual report, Acquisition, Nature, Intention, Time, LRDC, Oil

AUSTIN, Texas, Aug. 15, 2022 (GLOBE NEWSWIRE) -- via InvestorWire -- Laredo Oil, Inc. (OTC Pink Sheets: LRDC) (Laredo Oil), an oil exploration and production company, today announces that its wholly owned subsidiary, Lustre Oil Company, LLC, continues to acquire mineral rights in certain northeastern Montana core development areas.

Key Points: 
  • AUSTIN, Texas, Aug. 15, 2022 (GLOBE NEWSWIRE) -- via InvestorWire -- Laredo Oil, Inc. (OTC Pink Sheets: LRDC) (Laredo Oil), an oil exploration and production company, today announces that its wholly owned subsidiary, Lustre Oil Company, LLC, continues to acquire mineral rights in certain northeastern Montana core development areas.
  • Since October 2021, Laredo Oil has increased its acreage in these areas from 24,000 net acres to the current 45,246 gross and 37,932 net acres.
  • Additionally, we believe that our knowledge of the area enables us to selectively add to our accumulated leases going forward.
  • Laredo Oil, Inc. ( www.laredo-oil.com ) is an oil exploration and production company primarily engaged in acquisition and exploration efforts for mineral properties.

Laredo Oil enters into Financial Advisory Agreement with Dawson James Securities

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水曜日, 7月 27, 2022
Investment, Acquisition, Time, GLOBE, OTC Markets Group, CEO, SEC, LRDC, Private Securities Litigation Reform Act, Intention, Nature, Sumathi Best Television Current Reporting Award, Annual report, Pink sheet, Management, Risk management

AUSTIN, Texas, July 27, 2022 (GLOBE NEWSWIRE) -- via InvestorWire -- Laredo Oil, Inc. (Laredo Oil) (OTC Pink Sheets: LRDC), on July 21, 2022, Laredo Oil has entered into a Financial Advisory Agreement with Dawson James Securities.

Key Points: 
  • AUSTIN, Texas, July 27, 2022 (GLOBE NEWSWIRE) -- via InvestorWire -- Laredo Oil, Inc. (Laredo Oil) (OTC Pink Sheets: LRDC), on July 21, 2022, Laredo Oil has entered into a Financial Advisory Agreement with Dawson James Securities.
  • According to Mark See, Chairman and CEO of Laredo Oil, Dawson James brings 20 years of investment banking experience and expertise which, I feel, will enhance our presence in the public financial markets.
  • Frank Terzo, Managing Director of Investment Banking at Dawson James, adds, I am looking forward to working closely with Mark and the Laredo Oil team, assisting themin achieving all their business and financial goals.
  • In addition to pursuing conventional oil recovery methods in selected oil fields, Laredo Oil plans to locate and acquire mature oil fields, with the intention of recovering stranded oil using enhanced recovery methods.

Laredo Oil Granted Drilling Permit for Lustre Oil Field Property in Northeast Montana

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木曜日, 3月 10, 2022
Time, Private Securities Litigation Reform Act, OTC, Company, Annual report, LLC, Nature, OTC Markets Group, Sumathi Best Television Current Reporting Award, LRDC, GLOBE, Weather, SEC, Peter Olfert, Program, CEO, Idaho Spud, Oil

AUSTIN, Texas, March 10, 2022 (GLOBE NEWSWIRE) -- via InvestorWire -- Laredo Oil, Inc. (Laredo Oil) (OTC Pink Sheets: LRDC) announces today it has been granted a drilling permit to drill its first well in the Lustre Oil Field, located in the Western Williston Basin of Montana.

Key Points: 
  • AUSTIN, Texas, March 10, 2022 (GLOBE NEWSWIRE) -- via InvestorWire -- Laredo Oil, Inc. (Laredo Oil) (OTC Pink Sheets: LRDC) announces today it has been granted a drilling permit to drill its first well in the Lustre Oil Field, located in the Western Williston Basin of Montana.
  • The well (Olfert 11-4) will be drilled with 80-acre spacing on oil interests owned by Lustre Oil Company, LLC (Lustre), a wholly owned Laredo Oil subsidiary.
  • Laredo Oil, Inc. ( www.laredo-oil.com ) is an exploration and production company specializing in conventional and enhanced oil recovery techniques targeting mature and declining oil fields.
  • In addition to pursuing conventional oil recovery methods in selected oil fields, Laredo Oil plans, where applicable, to use its unique UGD model to profitably recover stranded oil reserves previously thought to be incapable of economic recovery.