Paradigm Oil and Gas, Inc. Closes on Acquisition of Cam Trucking and Well Services
EUSTACE, Texas, Aug. 19, 2013 /PRNewswire/ -- Paradigm Oil and Gas, Inc. (OTC PINK: PDGO) ("Paradigm") today announced that the Company has closed on the purchase of Cam Trucking and Well Services. The Company consummated the deal on Friday, August 16, 2013.
"On the first day of the operation we have received our first contract and check. I am thrilled to get the oil rigs out in the field and the trucks out working again to help keep the revenue streams growing for Paradigm Oil and Gas," stated Anthony Feezel.
The name of Cam Trucking and Well Services will be changed to Paradigm Trucking and Well Services and Mr. Anthony Feezel will take on the position of President of the subsidiary. Half of the fleet will be prepped for the road and headed for Texas and assigned to long term contracts, which will generate over six figures per month in revenue. The other half of the fleet will be on jobs with local producers in Oklahoma to keep our clients satisfied and a small portion will be drilling on our wells this week with a great possibility of success based on the Railroad Commission Reports and Engineering Analysis and previous State Tax Reports. We will be sending out one of our rigs to our previously shut down wells and reopening them for production with proof of positive results.
"From our Services subsidiary of well drilling, water removal and engineering analysis; the Company anticipates just under $200,000 per month in revenue. We have only just begun and have several contracts and proposals out in the industry and expect a profitable quarter," stated Vince Vellardita, President of Paradigm Oil and Gas.
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.