|By Marketwired .||
|June 16, 2014 11:50 AM EDT||
DALLAS, TX -- (Marketwired) -- 06/16/14 -- 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 monthly revenues would soon exceed 100 thousand dollars based on current levels of production and rising oil prices.
"We've got one lease that alone produced 442 barrels last week," stated Vince Vellardita, Paradigm Oil and Gas CEO. He added, "With oil at $107 a barrel, that monthly production puts us at nearly 100k, not counting significant, steady production from our 19 other wells."
Based on the current scenario of oil sales, the Company forecasts a record 40k monthly profit as soon as July 2014. With the planned activation of several more wells recently acquired from Magnum Oilfield Services, Bitter Creek Petroleum, and Blackjack Services, analysts believe that 3rd quarter production and revenue could even exceed Company estimates. Vellardita categorized the breakthrough by adding, "With current production volume and projected additions to our portfolio of actively producing wells, our monthly profit estimates are very conservative. This is the boom investors have been waiting for."
As of this report, repair crews were working to restore production on several newly acquired wells in the Houston and Dallas areas of Texas. Paradigm's success at targeting and acquiring low-risk, high-return oil producing properties has caught the attention of industry analysts who are closely following the Company's progress.
Paradigm Oil and Gas welcomes anyone interested in learning more about the company to visit their web site at www.paradigmoil.com.
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.