LAREDO OIL INC - LRDC STOCK NEWS

Laredo Oil (OTC Pink Sheets: LRDC) announces a significant development through its subsidiary, Lustre Oil Company. The company has acquired the Cranston salt-water disposal (SWD) well and two additional shut-in wells for conversion into SWD wells in Valley County, Montana. This strategic move enables Laredo Oil and its partner Texakoma Exploration & Production Company to economically dispose of salt-water from recently drilled wells.

The acquisition allows Laredo Oil to begin production at the Reddig 11-21 well in the Midfork field and provides SWD access for three wells in the Lustre field. Additionally, it enables the dewatering and production of the previously shut-in Olfert 11-4 well. This development removes a significant obstacle to ramping up field production and supports future drilling programs for both Laredo Oil and Texakoma.

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.

Laredo Oil, Inc. announces Texakoma Exploration and Production, LLC exercising its option to drill eight wells in Valley County, Montana. The agreement with Lustre Oil Company, LLC and Erehwon Oil & Gas, LLC involves 7,375 net acres of mineral rights. Texakoma can continue drilling additional wells with a 50/50 interest split. Chairman and CEO Mark See expresses confidence in the potential of the mineral rights and future development opportunities.

Laredo Oil, Inc. (LRDC) announces a Settlement Agreement with Lustre Oil Company LLC, resolving a quiet title dispute over mineral rights in Valley County, Montana. The agreement includes an undisclosed cash amount and aims to reset the relationship with ASMD.

Laredo Oil, Inc. (LRDC) announced that its subsidiary, Hell Creek Crude, LLC, has entered into a Participation Agreement with Erehwon Oil & Gas, LLC and accredited investors, providing $2,034,000 for drilling a development well and acquiring leases in Montana. The investors also hold $575,000 in convertible debt. The net working interest payments will be split on a 90%/10% basis until the total investment is repaid, then on a 50%/50% basis. After drilling, investors have the option to invest in two additional wells. The Chairman and CEO expects the well to improve cash flow, access additional capital, and increase enterprise value.

Laredo Oil, Inc. (LRDC) announced the discovery of 'free oil' in the second well drilled by Texakoma Exploration and Production, LLC under their agreement. The open hole well logs identified an oil filled porosity zone that is laterally consistent in thickness and structurally high to the surrounding productive wells in the field. The agreement covers Texakoma's participation in the exploration and development of 7,375 net acres of mineral rights in Valley County, Montana. Texakoma has an option to drill another eight wells in the Contract Area, with an 85%/15% split between Texakoma and Lustre, respectively. Laredo Oil also retains a 100% leasehold interest in an additional 30,000 net mineral acres in northeastern Montana. Mark See, Chairman and CEO of Laredo Oil, expressed confidence in the commercial success of the wells and the viability of their mineral rights in Valley County, expecting a net positive operating cash flow position in calendar 2024.