Laredo Oil, Inc. ("Laredo Oil") (OTC Pink Sheets: LRDC), an oil exploration and production company with over 30,000 net acres of mineral rights in the West Fork Prospect Area located north of the Fort Peck reservation in Montana, today announces that the Cranston Salt Water Disposal ("SWD") well is operational.
Mark See, Chairman and CEO of Laredo Oil, commented, "The Cranston SWD is now processing saltwater and operational. We have completed disposal and facility upgrades and all permitting and administrative tasks for the well which was recently acquired with Texakoma Exploration & Production Company. Commissioning the well removes a significant roadblock for ramping up field production in the immediate term and allows the five drilled and completed shut-in wells with an immediate, cost-effective water disposal solution. As needed, we will convert the two additional shut-in saltwater disposal wells acquired with the Cranston which will provide Texakoma and Lustre the necessary water disposal capacity to continue with their respective drilling programs going forward, currently planned at nine additional wells."