Welcome to our dedicated page for Laredo Oil news (Ticker: LRDC), a resource for investors and traders seeking the latest updates and insights on Laredo Oil stock.
Laredo Oil (LRDC) operates in oil exploration and mineral rights development, specializing in enhanced recovery techniques for mature fields. This news hub provides investors and industry observers with essential updates about the company's drilling programs, strategic partnerships, and operational milestones.
Access official press releases covering mineral rights acquisitions, joint venture announcements, and production updates from key operational regions. Our curated collection helps stakeholders track LRDC's progress in resolving mineral title challenges and expanding its drilling initiatives through collaborative partnerships.
Find timely updates on:
• New well development programs
• Mineral rights settlements
• Enhanced oil recovery projects
• Strategic industry partnerships
• Operational efficiency improvements
Bookmark this page for direct access to verified LRDC announcements, maintaining informed perspectives on the company's position in competitive energy markets. Check regularly for updates on drilling outcomes and resource development strategies.
AUSTIN, Texas, Aug. 18, 2022 – Laredo Oil, Inc. (OTC Pink Sheets: LRDC) has announced that its subsidiary, Lustre Oil Company, LLC, has received two drilling permits for its second and third wells in the Lustre Oil Field, located in the Western Williston Basin, Montana. The company is currently collaborating with Dawson James for financing these projects. This development could significantly enhance Laredo Oil's operational capacity in the region, paving the way for potential revenue growth.
Laredo Oil, Inc. (OTC Pink Sheets: LRDC) announced the continued acquisition of mineral rights by its subsidiary, Lustre Oil Company, LLC, in northeastern Montana. The company has expanded its acreage from 24,000 net acres in October 2021 to 45,246 gross and 37,932 net acres currently. CEO Mark See highlighted that this acquisition strategy allows leasing at competitive prices in the Western Williston Basin, leveraging their expertise to enhance future lease acquisitions.
Laredo Oil, Inc. (OTC Pink Sheets: LRDC) recently entered a Financial Advisory Agreement with Dawson James Securities to enhance its business and financial planning, including potential Up-Listing opportunities. This collaboration aims to leverage Dawson's 20 years of investment banking experience, potentially improving Laredo's presence in public financial markets. The agreement encompasses advice on equity and debt financing as well as corporate structuring, indicating a strategic move towards growth in oil exploration and production.
Laredo Oil, Inc. (OTC Pink Sheets: LRDC) has received a drilling permit for its first well, Olfert 11-4, in the Lustre Oil Field, Montana. Drilling is set to begin by the end of April 2022, with initial production anticipated three weeks post-spudding. Laredo Oil plans to drill a total of 11 wells in 2022, contingent on raising $20 million for the program. This initiative follows a $41 million NPV-10 reserve report from November 2021, which underscores the potential financial viability of the wells.
Laredo Oil, Inc. (OTC: LRDC) released a reserve report estimating a total of $41 million in cumulative cash flow from oil interests in the Western Williston Basin, Montana. This report, effective Nov. 1, 2021, was prepared by an independent engineering firm and aligns with SEC regulations. Laredo Oil's subsidiary, Lustre Oil Company, LLC, has identified ten wells for completion on its 23,739 acres of mineral rights. CEO Mark See expressed optimism about further expansion potential based on the reserve findings.
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