Laredo Oil, Inc.
- Market Cap (Float-Adj) (Float-adjusted market cap computed by the low-float screener — matches the screener row. May differ from the standard cap (price × all shares outstanding) reported elsewhere.)
- $44.5M
- Price
- $0.52
- % Change (Daily % change from the live per-ticker quote feed.)
- -1.89%
- Volume
- 79.3K
About
Laredo Oil, Inc. functions as a petroleum exploration and production company, concentrating on acquiring and developing seasoned oil fields. The firm employs sophisticated methods to retrieve oil that was previously considered inaccessible from these sites. Originally known as Laredo Mining, Inc., the company adopted its current name, Laredo Oil, Inc., in October 2009. Established in 2008, its principal operations are based in Austin, Texas.
Quick stats
Shares outstanding85.6M
Computed float10.2M
Float / shares11.9%
Key info
SectorEnergy
IndustryOil & Gas Exploration & Production
CIK (Central Index Key — the unique ID the SEC assigns to every filer. Use it to look up the company's filings on EDGAR.)0001442492
Websitehttps://www.laredo-oil.com
AI Summary
AI-generated1/2
minorbullishoperations update
Laredo Oil Signs First Non-Binding Letter of Intent (LOI) for Commercial Deployment of UGD in Argentina
Laredo Oil signed its first non-binding Letter of Intent with an established Argentine oil operator for potential commercial deployment of its Underground Gravity Drainage technology across selected Argentine oil fields.
The parties will pursue a structured evaluation including a Front-End Engineering and Design process; Laredo would finance and deploy UGD facilities through a dedicated Argentine operating entity, recovering its investment from incremental UGD-attributable production.
The LOI is largely non-binding, with a 180-day exclusivity period on the partner, and remains subject to due diligence, financing, regulatory approvals, and a definitive Production Sharing Agreement.
Red flags
- LOI is non-binding except limited provisions; definitive agreements may never be executed
- Company's limited financial resources cited as a risk for funding project development
- Argentina political, currency, and regulatory risks