SOURCE: Caddo International Inc.

December 20, 2007 11:58 ET

Caddo International Announces Spin-Off Is Near Completion

OIL CITY, LA--(Marketwire - December 20, 2007) - Caddo International, Inc. (PINKSHEETS: CADD) management had previously announced that November 25th was the record date of Petrolind Drilling Co. to all shareholders of record.

For every 20 shares of Caddo, one share of Petrolind Drilling Co. will be issued to all shareholders who owned shares as of the record date. The spin-off is going forward, and shareholders should receive their shares within the next 45 days.

Petrolind Drilling Co. is a contract drilling company, with several pending drilling contracts. Management believes that with record high oil prices, the domestic oil industry will continue to grow, and contract drilling will continue to be a lucrative industry.

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