Paradigm Oil and Gas: Closes on Several Wells and
Post# of 43
Posted On: 06/09/2014 3:34:41 PM
Paradigm Oil and Gas: Closes on Several Wells and Oil Production and Sales, Hits Record Numbers
. Marketwired
Paradigm Oil and Gas, Inc.
4 hours ago
DALLAS, TX--(Marketwired - Jun 9, 2014) - 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 180 barrels of oil were shipped from holding tanks in Louisiana, driving 2014 production and sales totals to record highs.
"We've brought 368 barrels to market in the last month and anticipate another shipment from our Perry wells in June, besides Lucy Lee and Mina Travis," stated Vince Vellardita, Paradigm Oil and Gas CEO. He added, "The record levels of oil production and revenue send a clear message to shareholders that the Company is on the right course and poised for a breakout."
Boosting a robust 3rd quarter production and revenue forecast, 6 (of 50) new wells acquired last week in a transaction with Magnum Oilfield Services, Bitter Creek Petroleum, and Blackjack Services are producing at impressive levels, bringing the Company's portfolio of oil producing wells to 10 and plan another 10 in the next 60 days.
Following a comprehensive evaluation of the new properties, including analysis of production and geological data, Paradigm's management identified several priority low-risk, high-return opportunities and launched a repair initiative last week. Detailing the reactivation campaign, Vellardita added, "We have a workover rig at one site and repair crews hard at work on several others. From Dallas to Midland and then San Antonio, the mission is to get these new wells online and contributing to a steadily growing flow of oil to market that we expect will generate monthly six figure revenue in 2014."
"Paradigm Oil and Gas closed on the Adobe and Miller Wells on June 6th, 2014 in a cash and preferred stock deal. We plan on having some wells producing cash flow by the end of the month," stated Vince Vellardita.
We also closed on the Bittercreek properties last week. They are within 30 miles of the Perry Ranch property and hope to have them on line by July 2014.
Paradigm Oil and Gas welcomes anyone interested in learning more about the company to visit their web site at www.paradigmoil.com.
. Marketwired
Paradigm Oil and Gas, Inc.
4 hours ago
DALLAS, TX--(Marketwired - Jun 9, 2014) - 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 180 barrels of oil were shipped from holding tanks in Louisiana, driving 2014 production and sales totals to record highs.
"We've brought 368 barrels to market in the last month and anticipate another shipment from our Perry wells in June, besides Lucy Lee and Mina Travis," stated Vince Vellardita, Paradigm Oil and Gas CEO. He added, "The record levels of oil production and revenue send a clear message to shareholders that the Company is on the right course and poised for a breakout."
Boosting a robust 3rd quarter production and revenue forecast, 6 (of 50) new wells acquired last week in a transaction with Magnum Oilfield Services, Bitter Creek Petroleum, and Blackjack Services are producing at impressive levels, bringing the Company's portfolio of oil producing wells to 10 and plan another 10 in the next 60 days.
Following a comprehensive evaluation of the new properties, including analysis of production and geological data, Paradigm's management identified several priority low-risk, high-return opportunities and launched a repair initiative last week. Detailing the reactivation campaign, Vellardita added, "We have a workover rig at one site and repair crews hard at work on several others. From Dallas to Midland and then San Antonio, the mission is to get these new wells online and contributing to a steadily growing flow of oil to market that we expect will generate monthly six figure revenue in 2014."
"Paradigm Oil and Gas closed on the Adobe and Miller Wells on June 6th, 2014 in a cash and preferred stock deal. We plan on having some wells producing cash flow by the end of the month," stated Vince Vellardita.
We also closed on the Bittercreek properties last week. They are within 30 miles of the Perry Ranch property and hope to have them on line by July 2014.
Paradigm Oil and Gas welcomes anyone interested in learning more about the company to visit their web site at www.paradigmoil.com.
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