EUSTACE, Texas, Sept. 4, 2013 /PRNewswire/ -- Paradigm Oil and Gas, Inc. (OTC PINK: PDGO) ("Paradigm") today announced that it has been preparing a full-scale oil and gas "Production Blitz," mobilizing all available personnel and resources in response to recent Middle East volatility and potential new shortages.
Paradigm Oil and Gas has spent the last 60 days conducting a comprehensive evaluation of its leases, wells, and support assets in Texas, Louisiana and Oklahoma as part of a strategic initiative to quickly and significantly increase oil and gas production in response to growing demand and the threat of further disruption to global production.
As of today's briefing, Paradigm Oil and Gas held 23 leases in the three states, totaling nearly 200 wells on several thousand acres. "These properties all have similar qualities in that they are ready and available for production, have equipment or assets on ground, and have historical information pertaining to production capabilities. A selection criteria that has guided our ongoing strategy in targeting and acquiring lucrative properties," stated Vince Vellardita, President and CEO of Paradigm Oil and Gas. Vellardita added, "We have set one goal for theses leases, get them online and producing!"
In response to this mandate, leadership has assembled quick response teams and is deploying them to cover multiple lease sites starting this week. The company is committed to having as many as three wells online from different leases, producing and generating solid revenue in the next ten days. Within the scope of the acquired leases, there are some wells that will need down-hole work and restoration, however a significant portion require minor repair and basic equipment to be fully operational (pumps, production lines, etc.) or require very minimal service to achieve a basic level of production.
In light of continued and recent instability in the Middle East and an anticipated disruption in Syria, the Company is confident that oil should remain above $100 per barrel for a substantial amount of time. The overall objective of what Paradigm Oil and Gas calls its "Production Blitz," is to immediately begin capitalizing on global market shortages by consistently bringing wells on-line, producing, and shipping oil to market during this time of premium valuation.
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: firstname.lastname@example.org
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.