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) Announces Discovery of Free Oil in Connection with Lustre, Texakoma Agreement

Laredo Oil (OTC: LRDC), an exploration and production company, today announced the discovery of “free oil” in the second of two wells drilled by Texakoma Exploration and Production, LLC under the agreement between Lustre Oil Company, LLC (a wholly owned subsidiary of Laredo Oil) and Texakoma. Similar to the first well drilled under the agreement, Texakoma ran and cemented casing in the second well, and is now preparing both for completion. According to the update, 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. “Now that both wells have been drilled, Texakoma will evaluate the wells to determine whether to execute its option to drill the additional eight wells,” said Mark See, chairman and CEO of Laredo Oil. “Based on the favorable data being recorded, I am confident that both wells will be commercially successful and will confirm the viability of our mineral rights in Valley County. We believe that the data will incentivize Texakoma to exercise its option to drill the eight additional wells. Once those wells are producing, I expect Laredo Oil will reach a net positive operating cash flow position in calendar 2024.”

To view the full press release, visit https://ibn.fm/56ldY

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 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 OTC Pink Sheets under the symbol LRDC. For more information about the company, visit www.Laredo-Oil.com.

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

About InvestorWire

InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent. We offer UNLIMITED Words on all domestic releases. While other wire services may provide a basic review of your release, InvestorWire helps you put your best foot forward with complimentary Press Release Enhancement.

With our competitors, the work is done the second your release crosses the wire. Not with InvestorWire. We include follow-up coverage of every release by leveraging the ever-expanding audiences of the 50+ brands that make up the InvestorBrandNetwork.

Get more out of your next press release with InvestorWire. It’s unlike anything you’ve seen before.

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

Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer

InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.investorwire.com
Editor@InvestorWire.com

InvestorWire is part of the InvestorBrandNetwork.

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.