AUSTIN, Texas, July 28, 2026 /PRNewswire/ -- Laredo Oil, Inc. (OTC: LRDC) ("Laredo Oil" or the "Company"), developer of its proprietary Underground Gravity Drainage™ ("UGD") technology, today provided shareholders with an update on its international business development activities.
Over the past twelve months, Laredo Oil has expanded its engagement with senior government officials, national oil companies, and industry leaders to advance the commercialization of its proprietary UGD technology. These efforts have focused on evaluating acquisitions, joint ventures, strategic partnerships, and technology deployment opportunities in mature oil fields.
The Company is currently advancing opportunities in the Balkans, Southeastern Europe, and North and South America.
"Our business development efforts over the past year have enabled us to engage directly with senior decision-makers at the highest levels of government and industry," said Mark See, Founder and Chief Executive Officer of Laredo Oil. "These discussions have provided the opportunity to demonstrate the value of our Underground Gravity Drainage technology while exploring acquisitions, joint ventures, and strategic partnerships. We are encouraged by the progress we have made and believe these efforts position Laredo Oil to secure its first commercial project, and potentially additional opportunities, as discussions continue to advance."
Management remains focused on identifying projects that align with the Company's technical, operational, and financial objectives and will provide additional updates as material developments occur and when appropriate under applicable securities laws.
About Laredo Oil, Inc.
Laredo Oil, Inc. (OTC: LRDC) is an energy technology company focused on commercializing its proprietary Underground Gravity Drainage™ ("UGD") technology. Developed through more than 17 years of research, engineering, and field testing, UGD is designed to improve recovery from mature oil reservoirs by unlocking stranded oil resources through a more efficient development approach.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, the Company's commercialization strategy, business development activities, potential acquisitions, joint ventures, strategic partnerships, and future project opportunities. Actual results may differ materially due to risks and uncertainties, including financing, negotiations, regulatory approvals, geopolitical developments, commodity prices, and other factors described in the Company's filings with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to update these forward-looking statements except as required by law.
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