Laredo Oil Commences Drilling Midfork Well

AUSTIN, Texas, June 27, 2024 /PRNewswire/ -- Laredo Oil, Inc. ("Laredo Oil") (OTC Pink Sheets: LRDC), announces that Hell Creek Crude, LLC, a wholly-owned subsidiary of Laredo Oil ("HCC"), commenced drilling the Reddig 11-21 well in the Midfork field located in Valley County, Montana. This well is the first of three production wells planned to be drilled and operated by HCC in the Midfork field. 

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 Lustre field to be used by Texakoma Exploration and Production, LLC to complete the third of ten wells on their continuing drilling program there. We continue to coordinate with them for drill rig scheduling, vendors, materials and mobilization to achieve lower drilling costs."

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.

SOURCE Laredo Oil, Inc.