Caddo Announces Financials for 2007, Prepares for 2008/2009 and Releases
Positive News
OIL CITY, La., June 4 /PRNewswire-FirstCall/ -- Caddo International, Inc.
(Pink Sheets: CADD) announces positive news on Petrolind Drilling Company and
releases unaudited financials from 2007. The Company is preparing 2008 and
part of 2009 unaudited financials as well to bring them up to a fully listed
pinksheet company. Management went on to state that Petrolind, the new
drilling company, should be at a total depth of 3,000 feet by Thursday on a
brand new oil well. This well is being drilled in DeSoto Parish.
For the year ended December 31, 2007, Caddo had operating revenues of roughly
$1,873,778. Total operating revenues, including service and other revenues,
were $1,949,169. The company had a total operating cost and expenses of
roughly $1,901,474. Therefore Caddo was profitable $51,942. This does not
include Caddo's 2008 growth or 2009 recent expansion of Oil and Gas wells
including the Petrolind Drilling Company division.
Caddo Management stated, "We are happy to announce that 2007 was yet another
profitable year in our books. This does not show or include our rapid growth
in late 2008 and early 2009 of which we are now a much stronger and viable
business."
Furthermore Black Dragon Resources has recently hired Petrolind to drill 2 new
Paluxy wells on the Land Co. lease in the Caddo Pine Island field. The Land
Co. produced 622 barrels last month. The Paluxy came in from 3 to 10 barrels
a day. Caddo still owns 60% of Petrolind Drilling. Management is hoping that
Petrolind will add a couple million in revenue and roughly $500,000.00 to the
bottom line.
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Caddo is a provider of products and services to the Oil and Gas industry,
integrating products and services through exploration, development,
production, operation and maintenance in the Louisiana and Texas regions.
Caddo has approximately 15 employees and has successfully been in business for
over 40 years. Caddo intends to continue to expand its customer base while
continuing to increase the depth and scope of the services it provides.
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.
Caddo International, Inc.
Oil City, LA
Jimmy Davis
Tel: 281.736.5296
Email: caddoind@hotmail.com
SOURCE Caddo International, Inc.
Jimmy Davis of Caddo International, Inc., +1-281-736-5296,
caddoind@hotmail.com
