Laredo Oil Sets into Motion New Exploratory Drilling Initiative in Montana

Laredo Oil Launches New Drilling Operations in Montana

Laredo Oil, Inc., a prominent player in the oil exploration and production industry, has embarked on an exciting new venture as it initiates exploratory drilling in the West Fork field of Montana. The company, known for holding over 30,000 net acres of mineral rights in this promising area situated just north of the Fort Peck reservation, has revealed plans to drill the first of three wells in the field.

According to Mark See, the CEO of Laredo Oil, the company is actively working to raise up to $7.5 million to fund this ambitious drilling project. The initial phase involves groundwork that includes acquiring crucial 2-D seismic data, determining optimal drilling locations, filing permits, and coordinating with vendors for various drilling services.

The West Fork prospect is garnering attention due to its potential to house oil reserves comparable to the Lustre field, which has yielded an impressive 7.5 million barrels of oil since its discovery by Exxon in 1981. Laredo Oil's strategic move into this region stems from its ongoing commitment to enhancing domestic oil production and tapping into existing resources. If successful, the initial exploratory wells will pave the way for a more extensive drilling campaign aimed at fully developing the West Fork area.

Laredo Oil Inc. champions not only traditional oil recovery methods but also seeks to acquire established oil fields to implement enhanced recovery techniques. This forward-thinking approach aligns with the company’s mission to maximize the extraction of