According to the findings in the Lake Creek Sand and Gravel report the total potential yield of the property is 9,750,000 truck tons of concrete aggregate, masonry mortar sand and gravel. This survey is based on 7 sampling wells drilled to depths of 25 to 58 feet. A total of 5 test pits were also dug to obtain better samples of the gravel content. Based on numbers from other sand and gravel operators, we concluded to an estimate overall royalty rate of
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Caddo International 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
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.