NetworkNewsBreaks – Laredo Oil Inc. (LRDC) Receives Drilling Permit for Drilling Northeast Montana Project
Laredo Oil (OTC: LRDC), an exploration and production company specializing in conventional and enhanced oil recovery techniques targeting mature and declining oil fields, was granted a drilling permit to drill an initial well in the Lustre Oil Field. The Lustre project is in the Western Williston Basin of Montana. Specifically, the permit allows the Olfert 11-4 well to be drilled with 80-acre spacing on oil interests owned by Lustre Oil Company LLC, a subsidiary of Laredo Oil. The company also announced that it is in the process of raising $20 million; that funding will be used to develop LRDC’s 10-well program.…







