SOURCE: Caddo International, Inc.

October 01, 2007 11:11 ET

Caddo International, Inc. Launches Spin Off Company

OIL CITY, LA--(Marketwire - October 1, 2007) - Caddo International, Inc. (PINKSHEETS: PTLD) announced today Petrol Lind Drilling, a wholly owned subsidiary company of CII, is being launched as an operational stand alone company. The shareholders of CII will receive a dividend of 20% of the new entity. Petrol Lind Drilling will solely concentrate operations on the exploration and drilling of oil fields. Petrol Lind Drilling will operate independently with its own Board of Directors and Management Team. It is also planned to offer shares through a public offering.

Mr. Mario Lanza, President of Caddo International, Inc., stated, "In line with the recent restructuring and review of the CII operations, the strength and viability of this side of the business allow Petrol Lind Drilling to become a stand alone operation. This was the obvious way of moving forward in line with the CII business model, while at the same time enhancing the value to our shareholders. Petrol Lind Drilling is in the process of finalizing and appointing Board of Directors and a Management Team, which will be announced shortly."

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, contact:
    George Macleod
    Caddo International, Inc.
    P.O. Box 608
    Oil City, La. 71061
    Tel: 318-995-0404