EUSTACE, Texas, Aug. 5,
2013 /PRNewswire/ -- Paradigm Oil and Gas, Inc. (OTC PINK: PDGO)
Paradigm Oil & Gas, Inc.") announced today that after doing
extensive research and having many meetings with the ownership,
Paradigm has successfully negotiated the purchase of a majority
interest of A. Feezel Corporation's Trucking Division, known as CAM
Trucking and Well Service.
"Paradigm Oil and Gas has recently begun the process of
compiling an inventory of its oil and gas leases, and completing a
plan to put its oil wells back into production. With the
price of oil above $100 per barrel,
the timing could not be more perfect for Paradigm to put its
operational plan into action. Getting our oil wells into production
and our oil and gas leases defined along with the purchase of Cam
Trucking and Well Service, accomplishes two very strategic goals,"
stated Chairman/CEO, Vince
Vellardita.
CAM Trucking and Well Service has been in the oil well service
business for over 20 years, and has been drilling oil wells
throughout the Texas and
Oklahoma areas. Bringing CAM
Trucking and Well Service into Paradigm Oil & Gas fits
perfectly with Paradigm's business model and will greatly enhance
the Service Business that Paradigm presently owns known as
Centurion Rig. The addition of CAM Trucking will boost our fleet of
service vehicles which will now have several drilling rigs, half a
dozen trucks, pumping rigs, water trucks, bull dozers and graders.
All of the equipment will be available for rent to third parties
when not in use by our company and in turn will create a constant
stream of revenue for Paradigm Oil and Gas.
The purchase of CAM Trucking and Well Service has been
negotiated for cash and stock in Paradigm. This transaction may add
close to one million dollars in
revenue and several million dollars of value to our bottom line in
the near future. As previously mentioned above, Paradigm Oil and
Gas will use the CAM Trucking and Well Services equipment for its
own operations, which will help control Paradigm's operating costs,
therefore increasing our margins from our oil production. The
closing of the transaction will take place within the next ten
days.
With the addition of Cam Trucking, Paradigm is on track to
become one of the top oil producers in the Oil and Gas Industry
throughout Texas, Oklahoma and Louisiana.
"A. Feezel Corporation is excited to be joining Paradigm Oil and
Gas. In the thirty years of doing business in the Oil and Gas
Industry and working with Mobil Oil and several other large oil
companies, I have never found such a diversified, young and
aggressive team with a vision like that of Paradigm Oil and Gas,"
stated Anthony Feezel, President of
A. Feezel Corporation.
"The timing couldn't be any better for both parties with
Paradigm Oil preparing for its audits for last year and the
preparation of production of wells starting this past week. We will
save considerable fees in the necessary audit of the acquisition
and for the drilling of our wells by using our own rigs versus
renting from a third party operator," stated Vince Vellardita, CEO and President of Paradigm
Oil and Gas.
About CAM Trucking
The Company has been in business for almost 20 years and started
by Ex Mobil Oil Executive, Anthony
Feezel. The Corporation is a full service provider for
the oil and gas industry providing oil drilling rigs, salt water
removal, bulldozing and pumping and has worked with over 150
independent oil producers and some of the largest oil companies
such as Mobil, Exxon, Halliburton, Brown Oil Tool and
Schlumberger.
About Paradigm Oil and Gas, Inc.
Paradigm Oil and Gas, Inc. (OTC Pink: PDGO) is a dynamic company
in business to provide 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, holds the rights
to the Centurion Technology, and owns rigs that target shallow
stripper wells. For more information about Paradigm Oil and Gas,
visit www.paradigmpdgo.com. If you wish to be added to
Paradigm's mailing list, please email: vince@paradigmpdgo.com
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. 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.