Laredo Oil Inc (LRDC)

[powerbattles]

ONE MORE TIME LET'S ME MAKE IT CLEAR: SORC BOUGHT TEAPOT THERE IS NO OTHER WAY AROUND THAT.

Don't take my word for what i says... let's read the 10-K. YUP! It's clearly stated SORC bought (NPR-3), the Teapot Dome Oilfield for $45.2 million. Teapot Currently producing crude oil that mean a lot more revenue for Laredo.

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations

The third project is located in Wyoming. On January 30, 2015, SORC, through one of its subsidiaries, purchased the Department of Energy’s Naval Petroleum Reserve Number 3 (NPR-3), the Teapot Dome Oilfield, for $45.2 million. The purchase culminated a competitive bidding process that closed on October 16, 2014. Under the terms of the sale, operation and ownership of all of NPR-3’s mineral rights and approximately 9,000 acres of land immediately transferred to SORC. The remaining surface acreage transferred in June 2015, bringing the total acres purchased to 9,318. The oil field there is operational, currently producing crude oil using both conventional and UGD production methods, and classified by SORC as held for sale.

https://sec.report/Document/0001199835-20-000228/