SOURCE: Caddo International Inc.

October 17, 2007 08:00 ET

Caddo International, Inc. Announces New Stock Symbol and Reverse Stock Split, Effective at Market Open October 17, 2007

OIL CITY, LA--(Marketwire - October 17, 2007) - Caddo International, Inc. (PINKSHEETS: CADD) (formerly PTLD.PK) announced today its Board of Directors has declared a reverse stock split of its common stock at the ratio of one share for each thirty shares. The reverse split is effective today, October 17, 2007. The Company has made all such necessary filings. As a result of this split, every thirty shares of PTLD common stock is exchanged for one share of common stock and shareholders are not required to return their certificates to the Company or the transfer agent. No scrip or fractional certificates will be issued and the Company's shares will continue to trade on the Pink Sheet Board with the symbol CADD.PK. All registered stockholders of PTLD who hold existing share certificates will receive a letter from the Board of Directors in the very near future.

Mr. Mario Lanza, President of the Company, stated, "Today's action resulted from a series of recent events within the Company which the Board believes will permit its common shares to more accurately reflect their true value." Mr. Lanza added that the reverse split will also facilitate the Company's ability to make acquisitions currently in negotiation and provide a clear context for existing and potential shareholders. Mr. Lanza concluded, "Today's action is an important step in the execution of the Company's strategic business plan to build for the future and thus to ensure the profitable growth of the Company."

The Company also announced today that as a result of the reverse split its common stock has a new symbol CADD.PK, which is in line with the recent change of the Company's name to Caddo International, Inc.

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 Louisiana and Texas regions.

The statement in this press release regarding any implied or perceived benefits from existing oil and gas field properties, actual reserves and revenues to be derived from the reserves, plans to drill additional oil and gas wells, anticipated revenues, the acquisition of additional oil or gas leases, maintaining mineral lease rights, and any other effects resulting from any of the above are forward-looking statements. Such statements involve risks and uncertainties, including, but not limited to, the continued production of gas at historical rates, costs of operations, delays, and any other difficulties related to producing minerals such as oil or gas, continued maintenance of the oil field and properties, price of oil or gas, marketing and sales of produced minerals, risks and effects of legal and administrative proceedings and governmental regulation, future financial and operational results, competition, general economic conditions, and the ability to manage continued growth.

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.

Contact Information

  • For further information regarding Caddo International Inc. Contact:
    George Macleod
    Caddo International Inc.
    P.O. Box 608
    Oil City, La. 71061
    Tel: 318-995-0404