Paradigm Oil and Gas, Inc. Acquires Trucking and Rigging Company
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: email@example.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.
Vince Vellardita, President
Paradigm Oil and Gas, Inc.
SOURCE Paradigm Oil and Gas, Inc.