Laredo Oil Inc (LRDC)

[highstreettrader]

My lol is in the way you described this situation, especially considering how you were shouting to buy from the rooftops when this stock was almost $1.

SORC owes Alleghany their investment capital which bought them the Teapot Dome, Lousiana property, etc. before LRDC receives the percentage of their royalites.

In the meantime, Laredo continues to collect it's management fee for being a service provider. Per their 10-Q, they are beginning to implement their enhanced oil recovery method at these properties (yes KS was a setback). However, with a ramp up in production (which they've been hiring for recently) and the price of oil this high, they have potential to create with a very nice spread. (You previously mentioned a Seeking Alpha article on this topic)

Also, think outside the box where the royalties are concerned. There are a number of provisions written into this, such as if SORC were to go public, the investment capital owed could be paid down with funds raised and Laredo gets an immediate payout.

I'm not saying to buy or sell this stock. It's an interesting story that has potential. I just don't see it as "dead" especially considering the market cap and float. The execs own 36 million of the 54 million shares outstanding and their options are all priced much higher than the current price. Best of luck.