DALLAS, Texas / ACCESSWIRE / April 7, 2014 / Paradigm Oil and Gas, Inc. (OTC PINK: PDGO), a leading service provider to the oil and gas industry with expanding operations in oil and gas production, today announced that on Friday April 4, 2014, the Company filed “Form 10” with the Securities and Exchange Commission (SEC) to regain regulatory compliance.
The filing contains two years of audited financials from 2011 - 2012, nine months of reviewed financials for 2013, as well as a detailed account of all properties under lease and verified assets. The Company notes that SEC Form 10 is significant because it is one of the most basic sources of information about a publicly traded security used by analysts and potential shareholders to gather information needed to make investment decisions. Paradigm Oil and Gas CEO Vince Vellardita stated “After an extensive and exhaustive audit process, I am very please to report the filing. This is a tremendous step forward for the Company as it restores our compliance with the SEC, reinvigorates enthusiasm among shareholders, and positions Paradigm to attract a broader scope of investors.”
Since launching a full scale production initiative in 2014 from newly acquired wells along the Tuscaloosa Marine shale formation in Louisiana, the Company reports impressive oil production from additional properties in Texas, Oklahoma, and Louisiana, as well as newly tapped natural gas assets in Canada and Texas. News of oil and gas production coincides with approval to ship oil from its holding tanks in Texas and Louisiana, signaling the start of what Paradigm believes with be steadily increasing revenue.
Vellardita summarized recent developments by stating “As promised, we have taken bold steps forward, transforming Paradigm Oil and Gas into a streamlined, fundamentally sound, fiscally responsible company worthy of shareholder confidence.”
Paradigm Oil and Gas welcomes anyone interested in learning more about the company to visit their new web site at http://paradigmoil.com/.
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 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.
Vince Vellardita, President
Paradigm Oil and Gas, Inc.
Source: Paradigm Oil and Gas, Inc.