Laredo Oil signs LOI with Argentine operator for potential UGD deployment
LRDC•LOI signed for potential UGD deployment in Argentina
- Laredo Oil signed a non-binding LOI with an Argentine oil operator for potential commercial deployment of its UGD technology.
- The parties will run a technical and economic evaluation, including front-end engineering and design, across selected Argentine oil fields.
- The project would be financed by Laredo through a dedicated Argentine operating entity, subject to financing, approvals, due diligence, and definitive agreements.
- The proposed structure targets recovery of Laredo’s investment from incremental production; the definitive deal is contemplated as a production sharing agreement.
- The LOI includes a 180-day exclusivity period for the partner and is otherwise non-binding until definitive agreements are signed.
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