Laredo Oil (OTC: LRDC), an oil exploration and production company, through its wholly owned subsidiary Lustre Oil Company LLC, has announced an agreement to settle litigation. According to the announcement, the company has entered “a mutually agreeable settlement agreement between Lustre, Erehwon Oil & Gas LLC and A&S Minerals Development Company (‘ASMD’) LLC.” The agreement, which is confidential, includes an undisclosed cash amount and officially resolves the “quiet” title dispute between the parties. “This agreement amicably settles the dispute between Lustre, Erehwon and ASMD regarding ownership of mineral rights in Valley County, Montana, and provides clear title to both parties regarding their mineral rights,” said Laredo Oil chair and CEO Mark See in the press release. “I feel this settlement positively resets our relationship with ASMD, and we look forward to working with ASMD as we develop our mineral rights in the area.”
To view the full press release, visit https://ibn.fm/CZyi8
About Laredo Oil Inc.
Laredo Oil is an oil exploration and production company primarily engaged in acquisition and exploration efforts for mineral properties. In addition to pursuing conventional oil-recovery methods in selected oil fields, Laredo Oil plans to locate and acquire mature oil fields, with the intention of recovering “stranded” oil using enhanced recovery methods. For more information about the company, visit www.Laredo-Oil.com.
NOTE TO INVESTORS: The latest news and updates relating to SILO are available in the company’s newsroom at https://ibn.fm/LRDC
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