EUSTACE, Texas, July 24, 2013 /PRNewswire/ -- Paradigm Oil and Gas, Inc. (OTC PINK: PDGO) ("Paradigm") today announced that the Company has entered into an agreement with Pangean Energy, LLC to co-manage its oil well leases.
Paradigm Oil and Gas, Inc. has several leases and options of thousands of acres of land in the United States. "We will start the drilling process and fire up one of our North Texas properties," stated Vince Vellardita, President of Paradigm Oil & Gas.
"As we move forward in cleaning up our corporate structure and get our filings and audits up to date in order to get reinstated on the OTCBB Exchange; we decided to fire up some of our smaller properties in an effort to generate revenue from our Oil Production Division. Our Technical/Service Division is already under contract with our Centurion and has already generated its first revenue for the Company. We will be able to post nice revenue in the next quarter and will continue to grow our numbers as the year progresses," stated Vince Vellardita, President of Paradigm Oil & Gas.
After several great meetings last week in Texas with our operating partner Pangean Energy, LLC, the Company is now poised to land several long term contracts which will help us to obtain the revenue and assets needed in order to be listed on the American Stock Exchange. We are very excited to be in the position the Company is in now. We are on pace by following our business plan, which will deliver to Shareholders the long awaited value.
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 protected]
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.