NetworkNewsBreaks – Laredo Oil Inc. (LRDC) Eyes Expansion Potential for Lustre Oil Field Properties
Laredo Oil (OTC: LRDC) today announced its receipt of a reserve report from an independent petroleum engineering firm. The report estimates that interests of proved undeveloped, probable undeveloped and contingent reserves, and forecasts of economics attributable to certain properties in the Western Williston Basin of Montana for oil interests acquired by Lustre Oil Company LLC, a wholly owned Laredo Oil subsidiary, total $41 million of cumulative cash flow discounted at 10%. According to the update, the evaluation, effective Nov. 1, 2021, was prepared using constant prices and costs and conforms to Item 1202(a)(8) of Regulation S-K and other rules of…