AUSTIN, Texas, Jan. 22, 2024 -- Laredo Oil, Inc. (OTC Pink Sheets: LRDC), an exploration and production company (the "Company"), today announced that Hell Creek Crude, LLC ("HCC"), a wholly owned subsidiary of the Company, has entered into a Participation Agreement between HCC, Erehwon Oil & Gas, LLC ("Erehwon"), and various accredited investors (the "Participation Agreement"). The Participation Agreement will initially provide $2,034,000 million in cash to fund the drilling of a development well and the acquisition of certain leases currently held by Lustre Oil Company, LLC, a wholly owned subsidiary of the Company, in the Midfork Field in Montana.