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Company:
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LAREDO OIL, INC. (LRDC)
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Form Type:
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NT 10-Q
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Filing Date:
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1/14/2021
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CIK:
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0001442492
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Address:
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2021 GUADALUPE STREET,
STE. 260
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City, State, Zip:
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AUSTIN, Texas 78705
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Telephone:
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(512) 337-1199
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Fiscal Year:
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05/31
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Last Trade
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Last Trade:
$0.08
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Change:
0.009 (14.07%)
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Trade Time:
Oct 22
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Market Cap:
$4.09M
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Description of Business
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Laredo Oil, Inc. ("the Company") is an oil exploration and production ("E&P")
company primarily engaged in acquisition and exploration efforts for mineral
properties. From June 14, 2011 to December 31, 2020, the Company was a
management services company managing the acquisition and conventional operation
of mature oil fields and the further recovery of stranded oil from those fields
using enhanced oil recovery ("EOR") methods for its sole customer, Stranded Oil
Resources Corporation ("SORC"), a wholly owned subsidiary of Alleghany
Corporation ("Alleghany").
From its inception through October 2009, the Company was primarily engaged in
acquisition and exploration efforts for mineral properties. After a change in
control in October 2009, the Company shifted its focus to locating mature oil
fields with the intention of acquiring those oil fields and recovering stranded
oil using EOR methods.
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