Strategy Laredo Oil intends to complete acquisitions of select mature oil fields in addition to conventional acreage and properties. The company is pursuing assets it believes are favorable for the profitable use of its proprietary Underground Gravity Drainage™ (“UGD”) model to recover stranded oil. The UGD method is suitable to mature oil fields with very specific geological and reservoir characteristics. Over the last 10 years, Laredo Oil has completed extensive research and field level application to identify specific oil fields within the United States that it believes are qualified for the UGD recovery method. The company believes the costs to implement the UGD method are significantly lower than those of other commonly used enhanced oil recovery (“EOR”) methods. Laredo Oil anticipates that it can materially increase the field oil production rate from prior periods and, in certain cases, recover amounts of oil equal to or greater than previously recovered from the selected mature fields
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