Sign In  |  Register  |  About Walnut Creek Guide  |  Contact Us

Walnut Creek, CA
September 01, 2020 1:43pm
7-Day Forecast | Traffic
  • Search Hotels in Walnut Creek Guide

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

InvestorNewsBreaks — Laredo Oil Inc. (LRDC) Reports That Texakoma Is Exercising Option to Drill Valley County Wells

Laredo Oil (OTC: LRDC), an oil exploration and production company, announced that Texakoma Exploration and Production LLC (“Texakoma”) has exercised its option to drill the next eight wells under its agreement with Laredo Oil’s wholly-owned subsidiary, Lustre Oil Company LLC, and Erehwon Oil & Gas, LLC. The agreement also includes participation in the development of 7,375 net acres of mineral rights in Valley County, Montana. According to the announcement, following the development of the wells, Texakoma may continue to drill additional wells within the contract area. Working and net revenue interest for each well will be on a 50/50 basis between Texakoma and both Lustre and Erehwon.

“This option exercise is a vote of confidence from Texakoma and confirms the potential of our mineral rights in Valley County,” said Laredo Oil chair and CEO Mark See in the press release. “If the additional eight wells being drilled, together with the two initial wells already drilled and completed, perform as expected, we will have the opportunity to develop many more wells with Texakoma, consistent with our mutual long-term asset building plan.”

To view the full press release, visit https://ibn.fm/H9RbJ

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
Editor@InvestorWire.com

InvestorWire is powered by IBN

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 WalnutCreekGuide.com & California Media Partners, LLC. All rights reserved.