EUSTACE, Texas, April 15, 2013 /PRNewswire/ -- (OTC PINK: PDGO)
President of Paradigm Oil and Gas, Inc. announced today that it had
a very successful week in meetings with the Executives from Energy
Revenue America, Inc. and Paradigm Oil & Gas on moving forward
with the production of oil and gas with the wells that the Company
owns.
"I am thrilled that over the next few weeks we will be moving
full speed ahead with all divisions generating revenue," stated the
President of both Companies, Vince
Vellardita.
Here is the update by category:
1. Centurion Technology
We have an agreement in place and a potential to win contracts
totaling 776 wells. The trucks and equipment is being prepped
in order to start immediately on our first contract. This
division has the opportunity to generate up to $3 Million in yearly gross revenue and the net
based on these numbers would be close to $2
Million.
2. Oil Production
Paradigm Oil and Gas complete initial site work regarding the
Clark Lease located in the Kaufman
County, Texas site crews have been working on the field for
the last two weeks. New roads were installed, maintenance on the
tank battery was completed and we are waiting for repairs to the
power lines that have recently been sagging. Once the power lines
are repaired we should be able to begin scheduling service rigs to
begin work on the site.
The joint management group will also begin discussions on the
possibilities of Arbuckle pools that were found in Nowata
County. Our current research indicated that previous wells
drilled in Nowata County, showed an initial production of about 200
barrels a day totaling 6,000 barrels per month which could total
$500K a month in revenue and were
located in a dome close to the surface which also produces natural
gas.
3. Natural Gas
Based upon the recent 24 percent increase in Natural Gas price
and May delivery prices hitting $4.13
per MCF both management groups are working on plans to increase
production of the natural gas. Paradigm management has approved
plans to begin investing additional money into additional research
of the long term natural gas commodity pricing. Paradigm Oil
& Gas has arranged financing to complete a project of 65 miles
of Pipeline and its wells to bring to operation.
About Paradigm Oil and Gas, Inc.
Paradigm Oil and Gas, Inc. (OTC Pink: PDGO) is a dynamic company
in business to provide both, service work to the oil and gas
marketplace and to produce oil. Paradigm's goal is to identify oil
producing wells and use modern technology to make them profitable
based on modern commodity pricing. Paradigm Oil & Gas has
several proven oil production leases and options for many more and
also holds the rights to the Centurion Technology and owns rigs
that target the shallow stripper wells. For more information
about Paradigm Oil and Gas, visit the website at:
www.paradigmpdgo.com. If you wish to be added to PDGO's
mailing list, please email: vince@paradigmpdgo.com.
About Energy Revenue America, Inc.
(OTC: ERAO). ERA was formed to become an equity partner in
various energy deals. Their goal is to recognize the value in a
transaction and provide the capital to enhance the value of those
projects, to the benefit of all parties. ERA presently owns a
65 mile pipeline and 3,000 acres along it providing natural gas
production. They have many existing wells requiring re-work
into the natural gas plays and transporting third party natural gas
production to their purchaser.
Forward Looking Statements
This release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E the Securities Exchange Act of 1934, as amended and
such forward-looking statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words
such as "may," "future," "plan" or "planned," "will" or "should,"
"expected," "anticipates," "draft," "eventually" or "projected."
You are cautioned that such statements are subject to a multitude
of risks and uncertainties that could cause future circumstances,
events, or results to differ materially from those projected in the
forward-looking statements, including the risks that actual results
may differ materially from those projected in the forward-looking
statements as a result of various factors, and other risks.
Paradigm Oil and Gas, Inc., is a company with limited experience in
the oil and gas industry. At the time of this release Paradigm Oil
and Gas, Inc. lacks the financial capabilities to meet its
financial obligations and its management expects to dilute the
Company's shares to raise the necessary operating capital. Based
upon industry standards Paradigm would be considered highly
speculative and lacks any competitive advantage over its
competition. Additional risks you should consider are that this
list is limited and additional risks not mentioned may apply:
failure to meet Paradigm's financial and contractual obligations,
Paradigm's managerial errors made based upon the Company's limited
experience and knowledge of the industry, commodity risk, acts of
God and regulatory risk. Revenue estimated in this release is
subject to change based on commodity market pricing and unknown
factors to management therefore making all the estimates wrong.
You should consider these factors in evaluating the
forward-looking statements included herein, and not place undue
reliance on such statements.
Contact:
Vince Vellardita, President
Paradigm Oil and Gas, Inc.
vince@paradigmpdgo.com
1-727-595-8101
SOURCE Paradigm Oil and Gas, Inc.
