Laredo Oil Commences Drilling Midfork Well
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.
- Commencement of drilling the first of three planned production wells in the Midfork field.
- The Reddig 11-21 well is expected to be ready for production by late July.
- Coordination with Texakoma Exploration and Production to achieve lower drilling costs.
- No immediate financial metrics or projected returns were disclosed.
According to Mark See, Chairman and CEO of Laredo Oil, "The Reddig 11-21 well was spudded this morning, and if it performs as planned, we expect to have it ready for production by late July. Once drilling is completed, the rig will be moved to the nearby
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.
FAQ
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