Replies to post #334 on Laredo Oil Inc (LRDC)

[1flaguy]

Really no assets maybe a little mainly knowledge and technology. The 8k will be out shortly and a Q as well to give more clarity.

[powerbattles]

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.

In this case they bought 100% of the stock ("SORC") With this acquisition Laredo now has exclusive rights to utilize ("SORC") technology on its own asset. This indicated they has the exclusive rights Stranded Oil on its own asset and asset operators worldwide. My point is since they acquired 100% stock of the company. Theoretically they owned the company but realistically we might not because we don't know ("SORC") debt and equity. However, we know ("SORC") bought tea pot worth $45 million, and years ago the field produced over 22 million barrels of oil, generating more than $550 million.

Logic tell since we acquired 100% SORC stock we should have the right to work on Teapot Dome Oilfield.

Let's not forget "SORC has invested more than $100 million in R&D to enhancement UGD and, in addition asset on Teapot Dome Oilfield.

AUSTIN, Texas, Jan. 5, 2021 /PRNewswire/ -- Laredo Oil, Inc. ("Laredo Oil") (OTCBB: 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.

With this acquisition of SORC, Laredo now has exclusive rights to utilize that technology on its own assets and those of operators worldwide,"

According to this article below NPR-3 has produced 28.5 million barrels (MMbbl) of oil with an estimated 300 MMbbl in place. That is 300 million MMbbl at the current market equal to 15 billion dollar.

NPR-3 is an oil and gas field 35 miles north of Casper, Wyo., created by presidential order in 1915. The historic field lies along the southwestern edge of the Powder River Basin and has produced 28.5 million barrels (MMbbl) of oil with an estimated 300 MMbbl in place.

Under the terms of the sale, operation and ownership of all NPR-3's mineral rights and roughly 9,000 acres of land will be immediately transferred to SORC. Remaining surface acreage is set to be transferred in May, bringing the total acreage to 9,318.

https://www.hartenergy.com/exclusives/stranded-oil-resources-buys-historic-teapot-dome-oilfield-26294

"Owned by the Department of Energy, and operated by Flour Daniel Inc., the field produced over 22 million barrels of oil, generating more than $550 million for the government, until it was finally sold in 2015 to the Stranded Oil Company of New York for $45 million.
https://www.clui.org/ludb/site/naval-petroleum-reserve-3-teapot-dome