- Plans moving forward to begin drilling this month
- Depending on drill production, drilling of next 10 wells will follow
- Reserve report estimates value of production to be $41 million
Laredo Oil (OTC: LRDC) an exploration and production company specializing in conventional and enhanced oil recovery techniques targeting mature and declining oil fields, is one step closer to drilling its first well — the Olfert 11-4 — in the Lustre Oil Field. The company has been granted a drilling permit for the planned drilling to take place in the Western Williston Basin of Montana (https://ibn.fm/xrwS0) and plans are moving forward to begin drilling soon.
“The Olfert 11-4 well is the first of 11 wells we have identified for completion in 2022,” said Laredo Oil chair and CEO Mark See. “Drilling there will commence as soon as possible; the drill rig is under…
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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