|By Marketwired .||
|May 12, 2014 09:30 AM EDT||
DALLAS, TX -- (Marketwired) -- 05/12/14 -- Paradigm Oil and Gas, Inc. (OTC Pink: PDGO) (PINKSHEETS: PDGO), a leading service provider to the oil and gas industry with expanding operations in oil and gas production, today announced that oil shipments in April 2014 produced record returns.
With tank run tickets in hand, Paradigm Oil and Gas CEO Vince Vellardita proudly stated, "We shipped two loads in April from leases in Texas and Louisiana totaling nearly 309 barrels. Those wells have since produced another 466 barrels which are ready for pick up." Mr. Vellardita continued, "This oil production and shipments sends a clear message to shareholders that we are delivering on our promise to generate revenue and achieve sustained profitability."
The Company estimates gross revenue from oil production for April to be $46,000 with expenses at about $15,000. Vellardita reflected on the accomplishment, "The Company hasn't seen a monthly return like this in more than 4 years. This represents the beginning of a steadily increasing revenue stream that I previously projected would occur for 2014."
The leases responsible for April's record returns in Texas and Louisiana were targeted by the Company months ago as part of its initiative to increase oil and gas production through the development of low risk, high return opportunities from within its portfolio of nearly 300 wells. "The strategy is clearly paying off," stated Richard Diamond, President of Operations for Paradigm Oil and Gas.
Paradigm unveiled an aggressive slate of well activation for 2014 which calls for the addition of 50 oil and gas producing properties by year end. With some 50,000 acres, 33 leases, and over 300 wells to review, Vellardita elaborated on the process stating, "We have strategic selection criteria in place that has proven to be successful. Our goal is ambitious, but well within reach." Vellardita provided insight on the Company's long term objectives, "Our goal is to have 100 wells on line and producing in the next two years and believe that this scenario has the potential to generate annual revenues in excess of $10 million dollars."
Vellardita credited Paradigm Oil and Gas' Management for charting and maintaining the course to success and closed by saying, "I want to thank our shareholders for their patience, foresight, and continued support as we take this company into the future, as previously mentioned, this is not a short term play and we're moving towards our ultimate goal of becoming a major player in the oil and gas industry."
Finally, despite recently receiving formal confirmation from The Depository Trust Corporation (TDTC) that deposit transaction restrictions (the "Chill") have been removed from Paradigm's common stock, some brokerage firms such as Ameritrade were not allowing open orders to be placed. Paradigm is taking appropriate action to make sure all brokerage firms are aware that the "Chill" has been officially removed so that investors may be free to buy the stock if they choose. Management maintains that the price of PDGO stock does not nearly reflect the potential value of oil and gas on its leases, or where the Company is headed under new management.
Paradigm Oil and Gas welcomes anyone interested in learning more about the company to visit their web site at www.paradigmoil.com.
Paradigm welcomes you to take a look at some of the past history on sales before last month on two of our leases by going to: http://sonlite.dnr.state.la.us/sundown/cart_prod/CART_CON_ogpledbylu1
About Paradigm Oil and Gas, Inc.
Paradigm Oil and Gas Inc. (OTC Pink: PDGO) (PINKSHEETS: PDGO) Paradigm Oil and Gas is a leading service provider to the oil and gas industry with expanding operations in oil and gas production. Paradigm is a growing oil and gas producer, currently holding 30 leases with nearly 300 wells. Paradigm has secured and is aggressively pursuing additional land options that will significantly increase its oil and gas production capabilities. 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.
Paradigm Oil and Gas, Inc.
There's Big Data, then there's really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. In her session at Big Data Expo®, Hannah Smalltree, Director at Treasure Data, discussed how IoT, Big D...
Dec. 28, 2014 05:00 PM EST Reads: 2,281
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, discussed single-value, geo-spatial, and log time series dat...
Dec. 28, 2014 05:00 PM EST Reads: 2,280
The Internet of Things promises to transform businesses (and lives), but navigating the business and technical path to success can be difficult to understand. In his session at @ThingsExpo, Sean Lorenz, Technical Product Manager for Xively at LogMeIn, demonstrated how to approach creating broadly successful connected customer solutions using real world business transformation studies including New England BioLabs and more.
Dec. 28, 2014 04:00 PM EST Reads: 2,146
The security devil is always in the details of the attack: the ones you've endured, the ones you prepare yourself to fend off, and the ones that, you fear, will catch you completely unaware and defenseless. The Internet of Things (IoT) is nothing if not an endless proliferation of details. It's the vision of a world in which continuous Internet connectivity and addressability is embedded into a growing range of human artifacts, into the natural world, and even into our smartphones, appliances, a...
Dec. 28, 2014 03:30 PM EST Reads: 2,595
Fundamentally, SDN is still mostly about network plumbing. While plumbing may be useful to tinker with, what you can do with your plumbing is far more intriguing. A rigid interpretation of SDN confines it to Layers 2 and 3, and that's reasonable. But SDN opens opportunities for novel constructions in Layers 4 to 7 that solve real operational problems in data centers. "Data center," in fact, might become anachronistic - data is everywhere, constantly on the move, seemingly always overflowing. Net...
Dec. 28, 2014 03:00 PM EST Reads: 2,170
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges. In his session at @ThingsExpo, Jeff Kaplan, Managing Director of THINKstrateg...
Dec. 28, 2014 03:00 PM EST Reads: 1,843
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete...
Dec. 28, 2014 02:00 PM EST Reads: 1,843
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, discussed how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.
Dec. 28, 2014 12:30 PM EST Reads: 1,997
"There is a natural synchronization between the business models, the IoT is there to support ,” explained Brendan O'Brien, Co-founder and Chief Architect of Aria Systems, in this SYS-CON.tv interview at the 15th International Cloud Expo®, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 28, 2014 12:00 PM EST Reads: 2,937
SYS-CON Events announced today Isomorphic Software, the global leader in high-end, web-based business applications, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software ...
Dec. 28, 2014 12:00 PM EST Reads: 1,885
The definition of IoT is not new, in fact it’s been around for over a decade. What has changed is the public's awareness that the technology we use on a daily basis has caught up on the vision of an always on, always connected world. If you look into the details of what comprises the IoT, you’ll see that it includes everything from cloud computing, Big Data analytics, “Things,” Web communication, applications, network, storage, etc. It is essentially including everything connected online from ha...
Dec. 28, 2014 12:00 PM EST Reads: 2,428
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Dec. 28, 2014 12:00 PM EST Reads: 7,202
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, examined three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective ...
Dec. 28, 2014 11:00 AM EST Reads: 2,054
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff happe...
Dec. 28, 2014 11:00 AM EST Reads: 2,162
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using ...
Dec. 28, 2014 11:00 AM EST Reads: 2,223