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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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1/14/2022
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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:
$0.07
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Change:
0.007 (10.47%)
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Trade Time:
Jun 07
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Market Cap:
$4.20M
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Description of Business
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We are an oil exploration and production company, primarily engaged in
acquisition and exploration efforts to find mineral reserves on various
properties. From our inception in March 2008 through October 2009, we were
primarily engaged in acquisition and exploration efforts for mineral 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
using enhanced recovery methods. From June 14, 2011 to December 31, 2020, we
were a management services company, managing the acquisition and operation of
mature oil fields, focused on the recovery of "stranded" oil from those mature
fields using enhanced oil recovery methods for our then sole customer, Stranded
Oil Resources Corporation, or SORC, then a wholly owned subsidiary of Alleghany
Corporation.
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