Laredo Oil Provides Update on International Business Development

Rhea-AI Summary

Laredo Oil (OTC: LRDC) provided an update on its international business development activities centered on commercializing its proprietary Underground Gravity Drainage™ (UGD) technology. According to Laredo Oil, over the past twelve months it has expanded engagement with senior government officials, national oil companies, and industry leaders to explore acquisitions, joint ventures, strategic partnerships, and technology deployment in mature oil fields.

The company is currently advancing opportunities in the Balkans, Southeastern Europe, and North and South America. Management states it remains focused on projects that fit its technical, operational, and financial objectives and plans to provide further updates as material developments occur under applicable securities laws.

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AUSTIN, Texas, July 28, 2026 /PRNewswire/ -- Laredo Oil, Inc. (OTC: LRDC) ("Laredo Oil" or the "Company"), developer of its proprietary Underground Gravity Drainage™ ("UGD") technology, today provided shareholders with an update on its international business development activities.

Over the past twelve months, Laredo Oil has expanded its engagement with senior government officials, national oil companies, and industry leaders to advance the commercialization of its proprietary UGD technology. These efforts have focused on evaluating acquisitions, joint ventures, strategic partnerships, and technology deployment opportunities in mature oil fields.

The Company is currently advancing opportunities in the Balkans, Southeastern Europe, and North and South America.

"Our business development efforts over the past year have enabled us to engage directly with senior decision-makers at the highest levels of government and industry," said Mark See, Founder and Chief Executive Officer of Laredo Oil. "These discussions have provided the opportunity to demonstrate the value of our Underground Gravity Drainage technology while exploring acquisitions, joint ventures, and strategic partnerships. We are encouraged by the progress we have made and believe these efforts position Laredo Oil to secure its first commercial project, and potentially additional opportunities, as discussions continue to advance."

Management remains focused on identifying projects that align with the Company's technical, operational, and financial objectives and will provide additional updates as material developments occur and when appropriate under applicable securities laws.

About Laredo Oil, Inc.

Laredo Oil, Inc. (OTC: LRDC) is an energy technology company focused on commercializing its proprietary Underground Gravity Drainage™ ("UGD") technology. Developed through more than 17 years of research, engineering, and field testing, UGD is designed to improve recovery from mature oil reservoirs by unlocking stranded oil resources through a more efficient development approach.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, the Company's commercialization strategy, business development activities, potential acquisitions, joint ventures, strategic partnerships, and future project opportunities. Actual results may differ materially due to risks and uncertainties, including financing, negotiations, regulatory approvals, geopolitical developments, commodity prices, and other factors described in the Company's filings with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to update these forward-looking statements except as required by law.

Contact:
Bradley E. Sparks, Chief Financial Officer
Laredo Oil, Inc.
(509) 593-5139; info@laredo-oil.com

View original content:https://www.prnewswire.com/news-releases/laredo-oil-provides-update-on-international-business-development-302836028.html

SOURCE Laredo Oil, Inc.

FAQ

What international business development update did Laredo Oil (OTC: LRDC) announce on July 28, 2026?

Laredo Oil announced that it has expanded international business development efforts over the past year, focusing on commercializing its Underground Gravity Drainage™ technology. According to Laredo Oil, current activities involve evaluating acquisitions, joint ventures, strategic partnerships, and technology deployment in mature oil fields across several global regions.

Which regions is Laredo Oil (OTC: LRDC) targeting for its Underground Gravity Drainage technology?

Laredo Oil is advancing business development opportunities in the Balkans, Southeastern Europe, and North and South America. According to Laredo Oil, these efforts focus on mature oil fields where potential acquisitions, joint ventures, strategic partnerships, and UGD technology deployments are being evaluated with government and industry decision-makers.

What types of deals is Laredo Oil (LRDC) exploring for its UGD technology?

Laredo Oil is exploring acquisitions, joint ventures, strategic partnerships, and technology deployment opportunities related to its Underground Gravity Drainage™ technology. According to Laredo Oil, these structures are being discussed with senior government officials, national oil companies, and industry leaders in mature oil field markets.

Has Laredo Oil (OTC: LRDC) secured a commercial project for its Underground Gravity Drainage technology?

Laredo Oil has not disclosed any completed commercial projects but is pursuing opportunities it believes could lead to its first. According to Laredo Oil, ongoing discussions with high-level government and industry decision-makers are continuing and may result in initial and potentially additional commercial projects.

What is Laredo Oil management’s strategy for selecting international projects as of July 2026?

Laredo Oil management states it is focused on projects aligned with its technical, operational, and financial objectives. According to Laredo Oil, the company will provide additional updates on its international business development activities when material developments occur and when appropriate under applicable securities laws.

How does Laredo Oil’s July 28, 2026 update affect investors in LRDC?

The update highlights active international business development but does not disclose signed agreements or financial figures. According to Laredo Oil, discussions are progressing toward potential commercial projects, and investors are advised that further details will be shared only when material and legally appropriate.