Laredo Oil Subsidiary Enters Into Agreement with Texakoma

AUSTIN, Texas, July 21, 2023 /PRNewswire/ -- Laredo Oil, Inc. ("Laredo Oil") (OTCPinkSheets:LRDC), announces that Lustre Oil Company, LLC (a wholly-owned subsidiary of Laredo Oil) entered into an agreement with Texakoma Exploration and Production, LLC ("Texakoma") for it to participate in the exploration and development of 7,375 net acres of mineral rights in Valley County, Montana ("Contract Area"). After the first ten wells are developed, Texakoma has an option to drill additional wells within the Contract Area with the working and net revenue interest for each well on a 50/50 basis. Following the contemplated transaction, Laredo retains a 100% leasehold interest and full control of an additional 30,556 net mineral acres in northeastern Montana at the western edge of the Williston Basin.