Laredo Oil (OTC: LRDC) is an oil and gas exploration and production (“E&P”) company focused on acquiring, developing and operating conventional oil and gas properties. During a recent down cycle, the company leased 23,739 mineral acres in the Western Williston Basin of Montana at favorable prices and continues to make progress toward developing the asset. “In November, Laredo announced receiving a reserve report from an independent petroleum engineering firm estimating that interests attributable to certain properties in the Western Williston Basin of Montana acquired by Laredo subsidiary Lustre Oil Company LLC have a present total worth of ‘$41 million of cumulative cash flow discounted at 10%,’” a recent article notes. “This reserve report confirms the potential of the first 10 wells we have identified for completion in a small portion of the 23,739 acres where Lustre has acquired mineral rights in northeast Montana,” said Mark See, chairman and CEO of Laredo Oil. “Based on this reserve report, I feel the field has much more potential for expansion.”
To view the full article, visit https://ibn.fm/l0unK
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
About QualityStocksNewsBreaks
QualityStocksNewsBreaks provide a rapid summary of corporate news that catch the attention of QualityStocks. QualityStocksBreaks are designed to keep investors up to date on important and breaking news in the small-cap and micro-cap markets. Spanning all industries, including energy, entertainment, telecommunications, healthcare, retail and more, these news breaks deliver opportunities the investment community may have missed. Whether it is earnings results, mergers and acquisitions, or any other market-moving news, our news breaks keep you in the know. QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. It is part of our mission statement to help the investment community discover emerging companies that offer excellent growth potential.
QualityStocks (QS)
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Please see full terms of use and disclaimers on the QualityStocks website applicable to all content provided by QS, wherever published or re-republished: http://www.qualitystocks.net/disclaimer.php
No comments:
Post a Comment