Laredo Oil, Inc.

Laredo Oil, Inc. is an oil exploration and production company that focuses on acquiring and exploring for mineral reserves. The company was incorporated in Delaware on March 31, 2008, as "Laredo Mining, Inc." and changed its name to "Laredo Oil, Inc." on October 21, 2009. Initially, from March 2008 through October 2009, the company concentrated on acquiring and exploring mineral properties. Since October 2009, Laredo Oil, Inc. has shifted its strategy to identifying mature oil fields globally for acquisition. Its objective is to recover "stranded" oil reserves from these fields using proprietary enhanced recovery methods, specifically underground gravity drainage (UGD). The original UGD method involves establishing a drilling chamber beneath an existing oil field through conventional mining processes. From this chamber, closely spaced wellbores are drilled directionally upwards into the reservoir. Residual radial pressure and gravity then facilitate the drainage of the targeted reservoir through these wellbores. Through practical application, Laredo Oil, Inc. has developed and evaluated variations of the UGD concept. The company believes the UGD method is suitable for mature oil fields possessing very specific geological and reservoir characteristics. Laredo Oil, Inc. has conducted extensive research to identify applicable oil fields both within the United States and internationally. Its current primary business and focus is to pursue and recover stranded oil from these selected mature fields as funding becomes available. As of May 2023, the company has 120,000,000 authorized shares of common stock at $0.0001 par value and 10,000,000 authorized shares of preferred stock at $0.0001 par value.