Caddo International and DR, LLC Mutually Cancel Joint Venture Agreement
OIL CITY, LA announced today that Caddo International and DR, LLC mutually agreed to cancel the 50% joint venture agreement concerning the mineral leases in the State of Nevada. A third-party had agreed to fund the project, but the funds were never received by the Company. Additionally, Management has not received any written confirmation from the European investors, but only from their agent. As Management has stated before, it was not certain of the viability of the offer.
All shares that had been issued for this project were held in trust by the Company's attorney and are being cancelled and returned to the Company's treasury. The Company intends to move forward on its core business, as there is a great deal of oil and gas activity taking place in Shreveport and the Company intends to capitalize on these significant opportunities.
About Caddo International, Inc.:
CContact Information Business Description
Caddo International, Inc.
100 Northland Avenue
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Press Release Source: Caddo International, Inc.
Caddo International, Inc. Announces Shareholder Update Regarding Proposed Buyout Offer
Monday April 28, 9:44 am ET
OIL CITY, LA--(MARKET WIRE)--Apr 28, 2008 -- Caddo International, Inc. (Other OTC:CADD.PK - News) management today announced they have meetings scheduled for the end of next week with the group that has made the proposed buyout offer. After the meetings in which some of the terms will be discussed management will be able to disclose more details. At this teleconference meeting after we have indicated our response and interest in this offer they will schedule another meeting to be held in Dallas, Texas, with both companies' Board of Directors to negotiate the final terms and conditions.
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As we have said in the previous press release part of the final deal will be contingent on Caddo International, Inc. providing title to interests in certain oil and gas leases in the Caddo Pine Island area of Louisiana and completion of further due diligence. Until these meetings they have stressed confidentiality until we have satisfied them of our interest in pursuing this and we have met with their terms and conditions.
"This buyout offer is being considered favorably by management but our Board of Directors have not given approval yet, but the final decision will be up to the majority vote of the shareholders and will be put to a shareholder proxy vote," said Mario Lanza, president of Caddo International. Until we have concluded with successful negotiations to the satisfaction of both parties this is only a proposal at this stage but management is considering any and all options. Meaning that the gold field is still being looked at, the leases are intact but the funding still has not been satisfied at this time.
About Caddo International, Inc.:
Caddo International, Inc., is a provider of products and services to the oil and gas industry.
A 71061
http://www.petrolinddrillingco.com
Phone: 318-995-0404
Fax: 318-995-0708
E-mail: caddoind@hotmail.com
Oil and Gas Services.
Disclosure Category
No Information
Primary SIC — Industry Classification
1389 - Oil and gas field services, misc
Business Stage
Development Stage Company
State Of Incorporation
NV
Jurisdiction Of Incorporation
USA
Year Of Incorporation
1968
Company Officers
G. Mark Woolridge, Dir.
Mario Lanza, President
Thomas Neely, Secretary
Number of Employees
30 as of Jan 10, 2008
SEC Reporting Status
SEC Reporting Company
CIK
0000077864
Fiscal Year End
12/31
Estimated Market Cap
615,686 as of May 13, 2008
Outstanding Shares
8,795,520 as of Dec 31, 2007
Authorized Shares
125,000,000 as of Dec 31, 2007
Float
3,540,827 as of Dec 31, 2007
Current Capital Change
shs decreased by 1 for 30 split
Pay Date: Oct 16, 2007
Company Notes
Formerly=Petrol Industries, Inc. until 10-07
Transfer Agent
Signature Stock Transfer, Inc.
2301 Ohio Drive
Plano, TX 75093
Legal Counsel
Frohling & Associates
17 Fulton Street
Newark, NJ 07105
Investor Relations Firm
Blazer Consulting
13811 Hallfield Dr
Houston, TX 77014
The information provided here has been obtained from publicly addo International, Inc. Announces Shareholder Update Regarding Proposed Buyout Offer
Caddo International, Inc. (PINKSHEETS: CADD) management today announced they have meetings scheduled for the end of next week with the group that has made the proposed buyout offer. After the meetings in which some of the terms will be discussed management will be able to disclose more details. At this teleconference meeting after we have indicated our response and interest in this offer they will schedule another meeting to be held in Dallas, Texas, with both companies' Board of Directors to negotiate the final terms and conditions.
As we have said in the previous press release part of the final deal will be contingent on Caddo International, Inc. providing title to interests in certain oil and gas leases in the Caddo Pine Island area of Louisiana and completion of further due diligence. Until these meetings they have stressed confidentiality until we have satisfied them of our interest in pursuing this and we have met with their terms and conditions.
"This buyout offer is being considered favorably by management but our Board of Directors have not given approval yet, but the final decision will be up to the majority vote of the shareholders and will be put to a shareholder proxy vote," said Mario Lanza, president of Caddo International. Until we have concluded with successful negotiations to the satisfaction of both parties this is only a proposal at this stage but management is considering any and all options. Meaning that the gold field is still being looked at, the leases are intact but the funding still has not been satisfied at this time.
All Cash Buyout Offer of $1.25 per Share for All of Caddo International, Inc. From European Group
Caddo International, Inc. (PINKSHEETS: CADD) management today announced they have received an offer from a European investment group to buy out all of the outstanding and issued shares of Caddo International, Inc. for an all cash offer of $1.25 per share. Upon completion of the proposed buyout new management will be merging in its interests in certain other oil and gas interests it carries, and merge Caddo into the new company with shareholders of record date receiving 1 share for every 5 shares of the new merged entity as additional compensation. The offer is contingent on Caddo International, Inc. providing title to its interests in certain oil and gas leases in the Caddo Pine Island area of Louisiana and completion of further due diligence.
President Mario Lanza stated, "This buyout offer is being considered favorably by management but the final decision will be up to the majority vote of the shareholders and will be put to a shareholder proxy vote."
Caddo Postpones Closing on Gold Deal
Caddo International, Inc. (PINKSHEETS: CADD) - Management announced today that the closing on the gold lease in Nevada has been extended an additional 60 days, in lieu that the private placement that was agreed to has not been paid as yet to the corporation. Management will stay the same until funds are paid. Caddo International Announces Acquisition of Gold Mining Venture and Corporate Reorganization
Caddo International, Inc. (PINKSHEETS: CADD) announced today that it has executed an agreement to acquire an undivided 50% interest in 72 Bureau of Land Management mineral leases for gold and silver exploration on 1440 acres in the state of Nevada. These claims are located in a rich mineral zone that is currently being actively explored by several other mining companies. In return for the mineral properties, Caddo agreed to provide 25 million restricted shares of Caddo stock at $0.07 per share cost. As previously announced, Caddo will spin off the existing oil services company with all of its assets, leaving Caddo entirely focused on the precious metals mining industry. Existing Caddo shareholders will receive shares in the new oil services company, and Caddo management believes that the large potential for profitability from the Nevada gold and silver mines will augment the oil services company cash flows.
In accordance with the new acquisition and Company focus, Mr. Mario Lanza will resign from his current position, and Mr. Sidney Lederman will take over as Caddo's president on April 15, 2008. Caddo's board also announced the election of Mr. Ken Little as a new Director.
Pink sheet symbol: cadd.pkCaddo Held Shareholder Meeting on Caddo International Announces Acquisition of Gold Mining Venture and Corporate Reorganization
Caddo International, Inc. (PINKSHEETS: CADD) announced today that it has executed an agreement to acquire an undivided 50% interest in 72 Bureau of Land Management mineral leases for gold and silver exploration on 1440 acres in the state of Nevada. These claims are located in a rich mineral zone that is currently being actively explored by several other mining companies. In return for the mineral properties, Caddo agreed to provide 25 million restricted shares of Caddo stock at $0.07 per share cost. As previously announced, Caddo will spin off the existing oil services company with all of its assets, leaving Caddo entirely focused on the precious metals mining industry. Existing Caddo shareholders will receive shares in the new oil services company, and Caddo management believes that the large potential for profitability from the Nevada gold and silver mines will augment the oil services company cash flows.
In accordance with the new acquisition and Company focus, Mr. Mario Lanza will resign from his current position, and Mr. Sidney Lederman will take over as Caddo's president on April 15, 2008. Caddo's board also announced the election of Mr. Ken Little as a new Director.
Saturday March 29th
Caddo International, Inc. (PINKSHEETS: CADD). Mr. Mario Lanza, President of Caddo International, announced yesterday that the shareholder meeting scheduled on March 29, 2008 was held in Oil City, LA with an excess of 75% voting for management on the changes. Caddo will be spinning off the Construction Service Co. to the current shareholders (record date to be announced). Caddo has had an offer to become a gold mining company with new management and cash to develop the gold properties, which was approved at the shareholder meeting.
About Caddo International, Inc:
Caddo International, Inc., is a provider of products and services to the oil and gas industry. The Company provides and integrates products and services through exploration, development, production, operation and maintenance in the Louisiana and Texas regions.
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Petrol Industries is a provider of products and services to the oil and gas industry. The Company provides and integrates products and services through exploration, development, production, operation and maintenance in the Louisiana and Texas regions.
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2005 Press Releases to date:
10/27/05 Petrol Industries Completes Sale Of Oil and Gas Properties for $3 Million; Company Expects to Report a Profit in Third Quarter
08/23/05 Petrol Industries Announces Their First Service Contract, Which Should Yield Over 2 Million Annually
06/24/05 Petrol Industries, Inc. Announces Appointment of Directors and Election of New Officers
06/20/05 Petrol Industries, Inc. Announces Final Closing on Sale of 1,240,612 Shares of Common Stock in Private Placement
06/20/05 Petrol Industries, Inc. Announces Resignation of Directors of the Company
03/30/05 Petrol Industries, Inc. Announces Agreement to Sell 1,240,612 Shares of Its Common Stock in a Private Placement
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Headquarters:
Investor Relations:
Petrol Industries, Inc.
Ronnie Allen, 318-424-6396
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Share structure:
Auth.
Restr.
O/S.
Float
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