Laredo Oil, Inc., an oil exploration and manufacturing firm with over 30,000 web acres of mineral rights within the West Fork area situated north of the Fort Peck reservation in Montana, at this time introduced that it has initiated preparations to drill the primary of three deliberate exploratory wells within the area.
“As beforehand reported, we’re elevating as much as $7.5 million to drill three exploratory oil wells situated within the West Fork prospect area,” commented Mark See, Chairman and CEO of Laredo Oil. “We now have raised funds to start preliminary work, together with buying 2-D seismic knowledge, choosing drilling areas, submitting for permits and securing distributors for different drilling capabilities. We consider that the West Fork area probably has oil reserves that might be equal to the Lustre area, which has produced roughly 7.5 million barrels of oil since its discovery by Exxon in 1981. If the primary three exploratory West Fork wells are profitable, we are going to embark on an aggressive drilling program to completely develop the sector and develop our home U.S. oil manufacturing.”
About Laredo Oil Inc.
Laredo Oil, Inc. is an oil exploration and manufacturing firm primarily engaged in acquisition and exploration efforts for mineral properties. Along with pursuing standard oil restoration strategies in chosen oil fields, Laredo Oil plans to find and purchase mature oil fields, with the intention of recovering “stranded” oil utilizing enhanced restoration strategies.
