Laredo Oil (OTC: LRDC) CEO and Chair Mark See was a featured guest in a recent Bell2Bell Podcast episode in which he discussed Laredo’s management, focus and strategy. The company, which is led by executives and board members who have, on average, 30 to 40 years of experience in the oil and gas space, is in the business of profitably producing domestic oil. “Our niche is twofold,” See stated. “We’ve identified over 20 billion barrels of oil in the United States that the majors and larger independents left behind… That presents an opportunity for quality assets that they just go by. That was our strategy when we formed Laredo, to prove our Underground Gravity Drainage(TM) (‘UGD’) technology to recover some of these 20 billion barrels of stranded oil in the United States and also to acquire and operate underutilized smaller assets.” According to a recent article, See further provided a summary of the company’s operations, underlining that Laredo has so far spent over $100 million on R&D to develop UGD as part of its long-term strategy. “Our short-term strategy focuses on underutilized assets allowing us to come in, operate, increase production, drive down costs and be profitable in the oil business,” See remarked. “That’s our focus. We’ve been successful in acquiring this acreage and operating these underutilized assets. It’s our approach – simplicity versus complexity. With complexity, there’s risk… simplicity lets us de-risk… it’s executable.”
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About Laredo Oil Inc.
Laredo Oil is an exploration and production company specializing in conventional and enhanced oil recovery techniques targeting mature and declining oil fields. In addition to pursuing conventional recovery methods in selected oil fields, where applicable Laredo Oil plans to use its unique UGD(TM) model to profitably recover stranded oil reserves previously thought to be incapable of economic recovery. The company’s common stock is listed on the OTC Bulletin Board under the symbol LRDC. For more information, visit www.Laredo-Oil.com.
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