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Friday, January 08, 2021 3:24:41 PM
BREAKING NEWS!
Laredo Oil Purchases Stranded Oil Resources Corp. LRDC) announced today that it acquired 100% of the stock of Stranded Oil Resources Corporation ("SORC"), a direct, wholly-owned subsidiary of Alleghany Corporation, in a transaction that closed on December 31, 2020.
https://www.prnewswire.com/news-releases/laredo-oil-purchases-stranded-oil-resources-corp-301201344.html
Theoretically buying 100% of company shares will give you 100% ownership or equity in the company. This doesn't mean you would own all the assets of the company just yet. For an example if your asset worth of ten million and you have debt and liabilities worth five million this mean your equity or your networth is only five million.
Great News! Yesterday Laredo follow up within 4 business days issue 8-k They confirmed acquisition of Stranded Oil Resources Corp.
https://sec.report/Document/0001654954-21-000225/
So what's SORC oilfield assets and equipment worth?
Stranded Oil Resources Corp paid $45.2 million for Reserve 3 (NPR-3). contained mineral rights, title and interest in the field; the total acreage to 9,318.
https://www.hartenergy.com/exclusives/stranded-oil-resources-buys-historic-teapot-dome-oilfield-26294
This is an asset with a significant amount of remaining reserves.
https://www.hartenergy.com/exclusives/stranded-oil-resources-buys-historic-teapot-dome-oilfield-26294
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