Laredo Oil Announces Discovery of Oil Shows at Midfork Well
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.
- Discovery of oil shows in three zones at the Reddig 11-21 well.
- Well expected to be ready for production within three to four weeks.
- Plans to drill and operate two additional wells in the Midfork field.
- None.
According to Mark See, Chairman and CEO of Laredo Oil, "We are elated with our progress and expect to have the well ready for production in three to four weeks. Once the well is producing, we will begin planning the next two wells we expect to drill and operate in the Midfork field."
About Laredo Oil Inc.
Laredo Oil, Inc. (www.laredo-oil.com) is an oil exploration and production company primarily engaged in acquisition and exploration efforts for mineral properties. In addition to pursuing conventional oil recovery methods in selected oil fields, Laredo Oil plans to locate and acquire mature oil fields, with the intention of recovering "stranded" oil using enhanced recovery methods. Laredo Oil's common stock is listed on the Pink Sheets under the symbol, "LRDC."
Forward-Looking Statements
This press release and the statements made by Laredo Oil in this press release may be forward-looking in nature and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements describe Laredo Oil's future plans, projections, strategies, and expectations, and may be identified by words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" or words of similar meaning. These forward-looking statements are based on assumptions and involve a number of risks, uncertainties, situations and other factors that may cause our or our industry's actual results, level of activity, performance or achievements to be materially different from any future results expressed or implied by these statements. These factors include changes in interest rates, market competition, changes in the local and national economies, and various other factors detailed from time to time in Laredo Oil's SEC reports and filings, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Laredo Oil undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date hereof to reflect the occurrence of unanticipated events.
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SOURCE Laredo Oil, Inc.
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