Caddo's board of directors announced today that they would extend the spinoff record date in order to benefit new and potential shareholders of Caddo International and Petrolind Drilling Company. Current shareholders as well as new shareholders that own or buy shares in CADD.PK on or before
All shareholders of CADD.PK on the record date of
Petrolind is a booming drilling company with a fully equipped drilling rig. Petrolind's rig can productively drill down to 3,000 ft, however the company is also looking to acquire an additional rig that can go down from 7,000 to 10,000 ft in order to rapidly expand. Even in this economy, there is still a demand for drilling rigs. Petrolind has been capitalizing on having their own rig, and has been taking advantage of that high demand. Petrolind Drilling Company is currently in talks and actively seeking other acquisitions including existing oil and gas wells. There are several opportunities that have presented themselves to be very attractive for the current market conditions and we look to take full advantage of these opportunities.
We also look to announce another exciting and positive spinoff company we have developed in the Green Housing Market. More information on this company will be announced very soon.
About Caddo International, Inc:
Caddo International, Inc., is a provider of products and services to the oil and gas industry. The Company provides and integrates products and services through exploration, development, production, operation and maintenance in the
Forward-Looking Statements - Safe Harbor:
Certain information discussed in this press release may constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are inherently subject to unpredictable and unanticipated risks, trends and uncertainties such as the Company's inability to accurately forecast its operating results; the Company's potential inability to achieve profitability or generate positive cash flow; the availability of financing; and other risks associated with the Company's business. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
SOURCE Caddo International, Inc.