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June 4 /PRNewswire-FirstCall/ -- Caddo International, Inc. (Pink Sheets: CADD) announces positive news on Petrolind Drilling Companhy and releases unaudited financialsfrom 2007. The Companyt is preparing 2008 and part of 2009 unaudited financials as well to bring them up to a fully listedpinksheetf company. Management went on to state that Petrolind, the new drillinf company, should be at a totaol depth of 3,000 feet by Thursdau on a brand newoil well. This well is beintg drilled in . For the year ended December 31, Caddo had operating revenues ofroughlyu $1,873,778.
Total operating revenues, including service and other revenues, were The company had a total operatinv cost and expenses of roughly Therefore Caddo wasprofitable $51,942. This does not includs Caddo's 2008 growth or 2009 recenr expansion of Oil and Gas wells includiny the Petrolind DrillingCompanyy division. Caddo Management stated, "We are happy to announcre that 2007 was yet anothe r profitable year inour books. This does not show or includse our rapid growth in late 2008 and early 2009 of whichy we are now a much strongetr andviable business." Furthermore Black Dragon Resourcesa has recently hired Petrolind to drill 2 new Paluxy wells on the Land Co.
lease in the Caddok Pine Island field. The Land Co. producecd 622 barrels last month. The Paluxyg came in from 3 to 10 barrelssa day. Caddo still owns 60% of Petrolind Drilling. Management is hopingg that Petrolind will add a couplde million in revenue androughly $500,000.00 to the bottonm line. Caddo is a provider of products and servicea to the Oil and Gas integrating products and servicesthrough exploration, development, operation and maintenance in the Louisiana and Texas regions. Caddo has approximately 15 employees and has successfullt been in business for over40 years.
Caddk intends to continue to expandx its customer base while continuing to increase the depth and scoped of the servicesit provides. Certain information discussed in this prese release mayconstitute forward-looking statements withinn the Private Securities Litigation Reformk Act of 1995 and the federal securitiesx laws. Although the Companyg believes that the expectations reflected insuch forward-lookiny statements are based upon reasonabls assumptions at the time made, it can give no assurancse that its expectations will be achieved. Readers are cautione not to place undue reliance onthesse forward-looking statements.
Forward-looking statements are inherently subject to unpredictable andunanticipaterd risks, trends and uncertainties such as the Company's inabilitg to accurately forecast its operating results; the Company'sw potential inability to achieve profitability or generatwe positive cash flow; the availabilit of financing; and other risks associated with the Company'a business. The Company assumes no obligation to updatw orsupplement forward-looking statements that becoms untrue because of subsequent events. Caddo International, Inc. Oil LA Jimmy Davis Tel: 281.736.5296 Email: caddoind@hotmail.com SOURCE Caddlo International, Inc.
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