InvestorWire NewsRoom

InvestorNewsBreak

InvestorNewsBreaks — Laredo Oil Inc. (LRDC) Subsidiary Enters Drilling Agreement for Montana Wells
January 22, 2024

InvestorNewsBreaks — Laredo Oil Inc. (LRDC) Subsidiary Enters Drilling Agreement for Montana Wells

Laredo Oil (OTC: LRDC), an oil exploration and production company, and its wholly owned subsidiary, Hell Creek Crude LLC (“HCC”), has entered into a participation agreement with Erehwon Oil & Gas LLC and various accredited investors. According to the announcement, the agreement initially provides more than $2 million in cash, which will be used to fund the drilling of a development well and acquire leases currently held by Lustre Oil Company LLC, a wholly owned subsidiary of the company, in Montana. The announcement noted that several of the participating investors also hold funds in the company’s convertible debt, plus accrued interest. The agreement outlines the repayment of the cash and notes to the various investors and how the net working interest payments from the agreement will be split between the various parties. “This agreement enables us to develop another well in a proven and developed oil field on our mineral leases outside the area of mutual interest under our agreement with Texakoma,” said Laredo Oil chair and CEO Mark See in the press release. “I expect that this will be another successful well, improving our ability to increase cash flow, access additional capital to develop our leases and increase our enterprise value by adding additional proven developed and proven undeveloped reserves.”

To view the full press release, visit https://ibn.fm/n17gJ

About Laredo Oil Inc.

Laredo Oil 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. For more information about the company, visit www.Laredo-Oil.com.

NOTE TO INVESTORS: The latest news and updates relating to SILO are available in the company’s newsroom at https://ibn.fm/LRDC

About InvestorWire

InvestorWire (“IW”) is a specialized communications platform with a focus on advanced wire-grade press release syndication for private and public companies and the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, IW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, IW brings its clients unparalleled recognition and brand awareness. IW is where breaking news, insightful content and actionable information converge.

For more information, please visit https://www.InvestorWire.com

Please see full terms of use and disclaimers on the InvestorWire website applicable to all content provided by IW, wherever published or re-published: https://www.InvestorWire.com/Disclaimer

InvestorWire
Los Angeles, CA
www.InvestorWire.com
310.299.1717 Office
[email protected]

InvestorWire is powered by IBN

Recent NewsBreaks

NewsBreaks Categories

Get Started with InvestorWire

To distribute a release in the next 24 hours. Contact our client services team.

(310) 299-1717

Distribute a press release. Submit your release to get started.

Submit Press Release

Set up a Live demonstration. Schedule a date and time that works for you.

Schedule a LIVE Demo

Press Distribution

Explore Press Distribution Solutions

All releases include an unlimited word count* with full wire-grade syndication, our press release enhancement service, and a follow-up InvestorNewsBreak article distributed to thousands of editorial syndication partners.

Discover Add-on Solutions

Increase the impact of your achievements by adding these exclusive solutions from InvestorWire, delivered in conjunction with the InvestorBrandNetwork (IBN).