Laredo Oil has signed a second non-binding letter of intent to evaluate its Underground Gravity Drainage (UGD) technology for oil recovery in a concession in Santa Cruz Province, Argentina. This follows a similar LOI signed last month, establishing a commercial framework where Laredo funds and operates UGD deployment, recovering costs through increased production. The company is conducting technical and financial reviews within a 180-day exclusivity period and engaging with provincial authorities for approvals. Argentina's growing oil sector and supportive trade agreements with the U.S. create a favorable environment for Laredo's expansion plans.
Laredo Oil's recent activity is presented here with Energy sector market data from Pluang. Of 79 priced Energy-sector US stocks, 28 rose and 47 fell today. NESR was priced at USD 20.80 with a 1-day change of +2.54%, LEU at USD 100.84 with a 1-day change of +2.44% and a Pluang order activity of 33% Sell / 67% Buy, and DNN at USD 2.25 with a 1-day change of +2.27%. This data is as of Oct 27, 2026 19:51 WIB.
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