DALLAS, Texas, September 30, 2013 - Paradigm Oil and Gas, Inc. (OTC PINK: PDGO) ("Paradigm")
Dear fellow Paradigm Oil and Gas Shareholders:
As the new President and CEO of Paradigm Oil and Gas, Inc. (OTC PINK: PDGO), I recently visited a sun-baked Texas prairie to inspect a previously dormant pumpjack that our team had just brought back on-line and was producing oil. Tangible evidence of the "paradigm shift" that has taken place with our company.
After completing an extensive tour of field production operations, I am proud to report that this success story is just one of many playing out across Texas, Oklahoma, and Louisiana, as a steadily increasing number of the Company's nearly 200 wells have started to produce oil.
In addition to expanding oil and gas production, specializing in the use of advanced recovery techniques to make producing and non-producing wells profitable, Paradigm has an industry leading Support Services Division which features an exclusive fleet of technologically advanced "Centurion" mobile oil drilling platforms, bulldozers, graders, water trucks, and environmental equipment currently leased to oil producers in the South West.
The Company's experienced leadership team, comprised of oil and banking industry veterans, have done an amazing job of helping me transform this organization, leading to a number of significant accomplishments which I would like to take this opportunity to highlight.
- Paradigm Oil and Gas started producing oil from its wells in Texas.
- Secured 23 leases totaling 200 wells on nearly 3,100 acres in Texas, Oklahoma, and Louisiana.
- Filed 2nd quarter, ending June 30, 2013, posting revenue ($40,000) for the first time in almost 2 years.
- Completed a comprehensive, independent audit, covering the past 24 months
- Reduced liabilities from $1,000,000 in the first quarter to $300,000 by June 30, 2013, and settled another $690,000 of debt.
- Refurbished its advanced Centurion mobile drilling assets and overhauled other oil and gas industry support equipment.
- Secured contracts to service 50 wells.
- Launched comprehensive brand enhancement initiatives which include a new logo, web site and corporate marketing video.
Paradigm Oil and Gas is approaching the future with a revitalized focus on our core businesses, with the overall objective being to increase revenue. To accomplish this, the Company has secured and is aggressively pursuing lucrative service contracts as well as additional land options that will significantly increase its oil and gas production capabilities in 2014. Acquisitions targeting some 700 wells on more than 50,000 acres of land on mineral rich sites which include:
2013 - 2014 Land Acquisitions
- The Bakken Shale Oil field in North Dakota, one of the largest oil and natural gas accumulations in the United States.
- The Eagle Ford Shale Formation in Texas, which holds huge oil & natural gas.
- 23,000 acres of oil producing land in New Mexico.
With diversified, robust revenue streams, an established infrastructure of core business assets, and strategic initiatives and acquisitions to expand the scope of the Company's operation within the United States and abroad, I believe Paradigm Oil and Gas has the potential to develop over 2 billion dollars in proven reserves and annual revenues exceeding 200 million dollars, positioning the company for unprecedented growth and achievement in the oil and gas industry.
We welcome anyone interested in learning more about the company to visit our new website at http://paradigmoil.com/. For additional information and inquiries pertaining to investment opportunities or stock purchase, please call our corporate offices at (727) 595-8101.
I look forward to sharing exciting news of our progress with you in the very near future.
About Paradigm Oil and Gas, Inc.
Paradigm Oil and Gas Inc. (OTC Pink: 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's Support Services Division includes a fleet of advanced "Centurion" mobile drilling platforms which feature exclusive oil recovery technology, as wells as bulldozers, graders, water trucks, and environmental equipment. Specializing in the use of advanced recovery techniques to make producing and non-producing wells profitable, Paradigm is a growing oil and gas producer, currently holding 23 leases with nearly 200 wells. Paradigm has secured and is aggressively pursuing additional land options that will significantly increase its oil and gas production capabilities. For more information about Paradigm Oil and Gas, visit http://paradigmoil.com/. If you wish to be added to Paradigm's mailing list, please email: Vince@paradigmoil.com.
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.
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