Laredo Oil, Inc. reports developments in oil exploration and production, with company updates centered on Montana field activity and its proprietary Underground Gravity Drainage™ method for mature reservoirs and stranded oil. News includes work tied to West Fork, Midfork and Lustre-area assets, including drilling preparations, well results, saltwater disposal capacity and production-readiness updates.
Recurring announcements also cover subsidiaries such as Lustre Oil Company, LLC and Hell Creek Crude, LLC, along with private capital actions involving common shares, subordinated promissory notes and warrants. These updates frame LRDC as an OTC-traded oil issuer pursuing field development, water-disposal infrastructure and enhanced oil recovery applications.
Laredo Oil (OTC Pink: LRDC) announces progress on its Reddig 11-21 well in the Midfork field, Valley County, Montana. The company's subsidiary, Hell Creek Crude, , has decided to perforate the casing within the Charles C zone. This well is the first of three planned production wells in the area.
CEO Mark See reports that two viable zones were encountered during drilling: the Charles C and the Nisku. The well has been cemented and cased to total depth through both zones. The company plans to produce from the Charles C zone first, followed by further assessment of the Nisku zone. See emphasized that these drilling results provide further evidence of the value of their Montana mineral rights.
Laredo Oil announced the discovery of oil shows at the Reddig 11-21 well in the Midfork field, Valley County, Montana. This well is drilled by Hell Creek Crude, a wholly-owned subsidiary, and marks the first of three planned production wells. Chairman and CEO Mark See expressed enthusiasm, stating the well should be ready for production within three to four weeks. Following this, the company plans to proceed with drilling the next two wells in the Midfork field.
Laredo Oil (OTC: LRDC) announced that its subsidiary, Hell Creek Crude, has commenced drilling the Reddig 11-21 well in the Midfork field, Valley County, Montana. This marks the first of three planned production wells in the area. According to CEO Mark See, the well is expected to be ready for production by late July. Post-drilling, the rig will be moved to the Lustre field for a separate program by Texakoma Exploration and Production, Coordination between the companies aims to reduce drilling costs.
Laredo Oil, Inc. announces the issuance of a drilling permit by the State of Montana for the Reddig 11-21 well in the Midfork field. This permit allows Hell Creek Crude, to start drilling operations. The company plans to drill three production wells and collaborate with Texakoma Exploration and Production, to lower drilling costs. The Reddig 11-21 well is expected to spud in early June 2024 and start production by mid-summer.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
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.