Laredo Oil (OTC: LRDC), an exploration and production company, today announced that the state of Montana issued to Hell Creek Crude LLC, a wholly owned subsidiary of Laredo Oil (“HCC”), a permit to drill the Reddig 11-21 well in the Midfork field located in Valley County, Montana. According to the announcement, this is the first of three production wells planned to be drilled and operated by HCC in the Midfork field. “This permit issuance now allows HCC to quickly move ahead with developing what we expect to be multiple wells in the Midfork area,” said Mark See, chairman and CEO of Laredo Oil. “We are coordinating with Texakoma Exploration and Production LLC on their continuing drilling program in the Lustre field for drill rig schedule and mobilization to achieve lower drilling costs. The expectation is that the Reddig 11-21 well will spud in early June of 2024 and be in production by mid-summer.”
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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 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
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