AUSTIN, Texas, March 11, 2013 /PRNewswire/ -- Laredo
Oil, Inc. ("Laredo Oil") (OTCBB: LRDC) announced today that
Stranded Oil Resources Corporation ("SORC") has awarded
Frontier-Kemper Constructors, Inc., A Tutor Perini Company, a
contract to commence the Enhanced Oil Recovery ("EOR") project
under its licensing agreement with Laredo Oil. Laredo Oil
will manage the project on behalf of SORC.
Mark See, Chairman and CEO of
Laredo Oil, stated, "We have doubled our workforce to 12 persons to
work in conjunction with our various contractors on this project
and on other acquisitions, with construction commencing
shortly."
ABOUT LAREDO OIL, INC.
Laredo Oil, Inc. (www.laredo-oil.com) is a management services
company specializing in EOR techniques targeting mature and
declining oil fields. In its relationship with SORC, Laredo
Oil plans to use its distinctive EOR model to profitably recover
stranded oil. The common stock of Laredo Oil is listed on the OTC
Bulletin Board under the symbol, "LRDC".
FORWARD-LOOKING STATEMENTS
This press release and the statements made by Laredo Oil, Inc.
in this press release may be forward-looking in nature and are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Such forward-looking
statements describe Laredo Oil's future plans, projections,
strategies and expectations, and may be identified by words such as
"expects", "anticipates", "intends", "plans", "believes", "seeks",
"estimates" or the negative versions of those words or other words
of similar meaning. These forward-looking statements are
based on assumptions and involve a number of risks, uncertainties,
situations and other factors that may cause the actual results,
level of activity, performance or achievements of Laredo Oil
or the oil industry to be materially different from any
future results, level of activity, performance or achievements
expressed or implied by these statements. These factors
include changes in interest rates, market competition, changes in
the local and national economies, and various other factors
detailed from time to time in the reports filed with, or furnished
to, the U.S. Securities and Exchange Commission, including its
Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and
Current Reports on Form 8-K. Laredo Oil undertakes no
obligation to update publicly any forward-looking statements to
reflect new information, events or circumstances after the date
hereof to reflect the occurrence of unanticipated events.
SOURCE Laredo Oil, Inc.