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Laredo Oil, Inc. Message Board

jcrtrade 4 posts  |  Last Activity: May 10, 2016 2:38 PM Member since: Dec 12, 2006
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  • Reply to

    Latest 10Q is Out!

    by gotstocks Apr 15, 2016 1:48 PM
    jcrtrade jcrtrade May 10, 2016 2:38 PM Flag

    I check with MSHA that "petition" you asked about has been resolved and is a non issue now. They are moving forward with the system. Hopefully soon we will have some decent flow rates and sales. I am also very tired of this long drawn out story, but I waited this long....

  • Reply to

    auditor

    by ruswise May 4, 2016 4:16 PM
    jcrtrade jcrtrade May 4, 2016 4:38 PM Flag

    so 4th quarter and 1st quarter will be late also? I wonder...

    Sentiment: Hold

  • Reply to

    PennyStocksWeekly has a great piece on LRDC

    by benhalsten Apr 27, 2016 11:00 PM
    jcrtrade jcrtrade Apr 29, 2016 3:35 PM Flag

    come on hounds penny stock weekly trolls all the message boards on every stock looking to sign up subscribers

  • Reply to

    Latest 10Q is Out!

    by gotstocks Apr 15, 2016 1:48 PM
    jcrtrade jcrtrade Apr 29, 2016 3:30 PM Flag

    Hounds is partially right but so negative again. This is the most positive and informative Q they have ever out out. During the quarter ended February 29, 2016, drilling was intermittent as equipment, designs, procedures and systems were being evaluated, tested and modified or replaced where necessary. The Company continues to test different enhanced recovery methods (e.g. nitrogen and carbon dioxide injection) and to analyze and interpret drilling results from underground well bores in order to determine those activities which best optimize production from the field. In an application filed with the KCC on January 13, 2016, SORC disclosed that 13 UGD well bores have been drilled from the underground drilling room. SORC also disclosed that initial results from drilling test UGD wellbores confirmed commercial quantities of oil within the formation, but also revealed the formation to be less permeable and porous than originally anticipated. This is due in large part to the presence of a greater degree of shale and siltstone laminations than expected. Because shale and siltstone have low permeability and porosity, these laminations create barriers inhibiting the natural flow of oil through the more porous and permeable Bartlesville sand. Due to these characteristics of the Fredonia field, and in an effort to maximize oil recovery, SORC requested permission to conduct hydraulic stimulations of existing vertical wells in the field. That application to do so was granted by the KCC on February 25, 2016. This stimulation activity is part of the ongoing optimization process designed to facilitate successful UGD recovery of existing oil deposits in the field. In March 2016, prior to beginning any hydraulic stimulations there, SORC made initial sales of crude oil consisting of barrels captured from the target reservoir as a byproduct of the UGD development and testing efforts. As development and testing is completed, selected individual underground well bores capable of producing commercially viable oil quantities will be put into production and monitored as part of the optimization process. There is a time lag between drilling, production and sales as oil pumped to the surface is accumulated in above-ground storage facilities before being picked up by tank trucks.

    Sentiment: Hold

LRDC
0.090.00(0.00%)May 20 3:08 PMEDT