Laredo Oil, Inc. LRDC

What this company does

We are an oil exploration and production company, primarily engaged in acquisition and exploration efforts to find mineral reserves on various properties. Beginning in October 2009, we shifted our focus to locating mature oil fields with the intention of acquiring those oil fields and recovering “stranded” oil reserves using proprietary enhanced recovery methods known as underground gravity drainage, or UGD. The original UGD method uses conventional mining processes to establish a drilling chamber underneath an existing oil field from which closely spaced wellbores are drilled directionally up into the reservoir, using residual radial pressure and gravity to then drain the targeted reservoir through the wellbores. Our primary business and focus is now to pursue and recover stranded oil from selected mature fields as necessary funds become available. We intend to implement the UGD method in oil fields with a minimum of 25 million barrels of estimated recoverable oil. Currently, SORC is a wholly owned subsidiary of Laredo and is not conducting any ongoing operations. We also have a 50% interest in the Cat Creek oil field, located west of our mineral rights described above, which is recorded with no value on our financial statements.

Written from the business description in Laredo Oil, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 15 September 2025. Every sentence was checked against that document before publication.