Laredo Oil (OTC: LRDC) was recently granted a permit for planned drilling, starting with its first well, the Olfert 11-4, at a property located in the Western Williston Basin of Montana acquired by Laredo’s subsidiary, Lustre Oil Company LLC. A recent article quotes company CEO and Chair Mark See as saying, “Assuming successful economic results from the completion of the first well, we intend to proceed to drill the next ten wells, contingent upon successful completion of the fundraising efforts currently underway… And we are continuing to expand our mineral rights acreage portfolio in Montana to more fully realize the opportunity we believe exists there.” Laredo’s belief in the potential of the property, the article notes, is rooted in more than 35 years of offsetting production, the associated technical data in the field, and the reserve report it received last year. “This reserve report confirms the potential of the first ten wells we have identified for completion in a small portion of the 28,496 acres where Lustre has acquired mineral rights in northeast Montana,” said See. “Based on this reserve report, I feel the field has much more potential for expansion.”
To view the full article, visit https://ibn.fm/FOZg0
About Laredo Oil Inc.
Laredo Oil 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 recovery methods in selected oil fields, where applicable Laredo Oil plans to use its unique UGD(TM) model to profitably recover stranded oil reserves previously thought to be incapable of economic recovery. The company’s common stock is listed on the OTC Bulletin Board under the symbol LRDC. For more information, visit www.Laredo-Oil.com.
NOTE TO INVESTORS: The latest news and updates relating to LRDC are available in the company’s newsroom at https://ibn.fm/LRDC
InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.
As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.
For more information, please visit https://www.InvestorWire.com
InvestorWire is part of the InvestorBrandNetwork.