Mario Lanza, President of Caddo International, announced the Company has reached an agreement in principle to merge with two larger oil production contractors in the Caddo Pine Island Area. These Companies are both well-established and had combined revenues last year of over $4,000,000.
Also, with the assets of these two companies, Mr. Lanza noted that Caddo will have ten pulling units and over $3,000,000 of oil field equipment in place, ready to take advantage and service the needs of the expanded demand for oil production in the area.
Management stated that with these companies as part of the Caddo group, there is no doubt that Caddo will be a dominant player in the Caddo oil field area and Mr. Lanza predicted that during 2008 revenues of $12,000,000 should be achieved.
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