Paradigm Oil and Gas' President appointed to supervise Joint Venture with Energy Revenue America, Inc.
EUSTACE, Texas and DALLAS, March 26, 2013 /PRNewswire/ -- (OTC PINK: PDGO) and (OTC PINK: ERAO) Paradigm Oil and Gas Inc., and Energy Revenue of America, Inc. are pleased to announce that effective Friday March 22, 2013 Vince Vellardita became the President of both PDGO and ERAO. The management of both companies believes that it is in the best interest to share common management at this time; based upon the initial discussions. Further, financial commitments are to be handled by Mr. Vellardita on behalf of both companies. In addition, it is believed the size and magnitude of the commercializing 65 miles of natural gas pipeline, developing and executing the drilling programs for the leases in East Texas and the 3,000 acres in Northwest Oklahoma would best be handled under the direction of Vince Vellardita.
The vision is to earn revenue from three divisions 1.) Oil Production, 2.) Natural Gas pipeline transportation fees and sales of Natural Gas produced from Leases, and 3.) Revenue earned from our Centurion Technology. East Texas will be the focus for Oil production with the Clark Lease beginning the ground work which started last week. Due to heavy rain and soft ground in the area we were required to lay a partial access road to the well head and the well pad. Ground crews and setup workers are on the Clark Lease this week preparing, sourcing equipment and meeting with rig operators to begin the work and start pumping oil.
Both companies have been working with the legal firm in an effort to finalize the details and close the transaction as soon as possible. "The most important part is the financial side which will support the development production of producing natural gas and the transaction is scheduled to close 10 business days from today," stated Vince Vellardita.
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.
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. 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.