SOURCE: Caddo International, Inc.

April 28, 2008 09:44 ET

Caddo International, Inc. Announces Shareholder Update Regarding Proposed Buyout Offer

OIL CITY, LA--(Marketwire - April 28, 2008) - Caddo International, Inc. (PINKSHEETS: CADD) management today announced they have meetings scheduled for the end of next week with the group that has made the proposed buyout offer. After the meetings in which some of the terms will be discussed management will be able to disclose more details. At this teleconference meeting after we have indicated our response and interest in this offer they will schedule another meeting to be held in Dallas, Texas, with both companies' Board of Directors to negotiate the final terms and conditions.

As we have said in the previous press release part of the final deal will be contingent on Caddo International, Inc. providing title to interests in certain oil and gas leases in the Caddo Pine Island area of Louisiana and completion of further due diligence. Until these meetings they have stressed confidentiality until we have satisfied them of our interest in pursuing this and we have met with their terms and conditions.

"This buyout offer is being considered favorably by management but our Board of Directors have not given approval yet, but the final decision will be up to the majority vote of the shareholders and will be put to a shareholder proxy vote," said Mario Lanza, president of Caddo International. Until we have concluded with successful negotiations to the satisfaction of both parties this is only a proposal at this stage but management is considering any and all options. Meaning that the gold field is still being looked at, the leases are intact but the funding still has not been satisfied at this time.

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 West Louisiana and East Texas regions.

Forward-Looking Statements -- Safe Harbor:

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.

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:
    Mario Lanza
    Caddo International Inc.
    P.O. Box 608
    Oil City, La. 71061
    Tel: 318-995-0404