DALLAS, Texas / ACCESSWIRE / July 14, 2014 / Parad
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Posted On: 07/14/2014 4:11:04 PM
DALLAS, Texas / ACCESSWIRE / July 14, 2014 / Paradigm Oil and Gas, Inc. (OTC Pink/PINK SHEETS: PDGO), a leading service provider to the oil and gas industry with expanding operations in oil and gas production, today announced that crews were racing to complete repairs on two newly acquired wells in Midland-Odessa and Abilene, Texas and anticipated having them on-line by the end of the week.
The wells targeted for reactivation are among 50 that Paradigm Oil and Gas obtained last month in a cash and preferred stock transaction with Magnum Operating, and Johnson Children’s Trust. "With more than 30 leases and hundreds of wells, I have no doubt we will reach our goal of having 20 properties producing oil and gas by the end of this year," stated Vince Vellardita, Paradigm Oil and Gas CEO. He added, "We have sustained production from a rapidly growing base of wells, generating revenue 24/7."
Amidst a flurry of recent developments, Paradigm Oil and Gas highlights:
Portfolio Analysis
In an effort to continue its strategic development of cost effective properties from within its portfolio, last month Paradigm retained an engineering firm and geologists to analyze and evaluate oil and gas production assets including: oil under pipe, well infrastructure, production history, etc.. The findings will be used to target future properties for repair and reactivation which meet its “low risk, high return” oil and gas production initiative criteria.
Financial Reporting
Paradigm CEO Vince Vellardita will be in Texas this week meeting with engineers and auditors to complete reserve reports and finalize accounting necessary to submit regulatory reports which the Company expects to file by the end of July, 2014.
Shareholder Confidence
Commenting on the Company’s dramatic increase in oil production and related stock valuation, a shareholder recently wrote to Paradigm CEO Vince Vellardita, "I bought in a while ago at 4 dollars and the company has done nothing until you took over. I applaud your vision, strategy, and most of all the confidence you have restored in Paradigm’s future." Vellardita reflected on the vote of confidence, "Shareholders have been waiting a long time for real results. As a Company, we are finally delivering. I am confident that when we file at the end of July, the results will fuel an even more dramatic increase in stock value."
Paradigm Oil and Gas welcomes anyone interested in learning more about the company to visit their web site at www.paradigmoil.com.
Please click on this link if you would like to see our company video: https://www.youtube.com/watch?v=oR8owvJc7Jk
The wells targeted for reactivation are among 50 that Paradigm Oil and Gas obtained last month in a cash and preferred stock transaction with Magnum Operating, and Johnson Children’s Trust. "With more than 30 leases and hundreds of wells, I have no doubt we will reach our goal of having 20 properties producing oil and gas by the end of this year," stated Vince Vellardita, Paradigm Oil and Gas CEO. He added, "We have sustained production from a rapidly growing base of wells, generating revenue 24/7."
Amidst a flurry of recent developments, Paradigm Oil and Gas highlights:
Portfolio Analysis
In an effort to continue its strategic development of cost effective properties from within its portfolio, last month Paradigm retained an engineering firm and geologists to analyze and evaluate oil and gas production assets including: oil under pipe, well infrastructure, production history, etc.. The findings will be used to target future properties for repair and reactivation which meet its “low risk, high return” oil and gas production initiative criteria.
Financial Reporting
Paradigm CEO Vince Vellardita will be in Texas this week meeting with engineers and auditors to complete reserve reports and finalize accounting necessary to submit regulatory reports which the Company expects to file by the end of July, 2014.
Shareholder Confidence
Commenting on the Company’s dramatic increase in oil production and related stock valuation, a shareholder recently wrote to Paradigm CEO Vince Vellardita, "I bought in a while ago at 4 dollars and the company has done nothing until you took over. I applaud your vision, strategy, and most of all the confidence you have restored in Paradigm’s future." Vellardita reflected on the vote of confidence, "Shareholders have been waiting a long time for real results. As a Company, we are finally delivering. I am confident that when we file at the end of July, the results will fuel an even more dramatic increase in stock value."
Paradigm Oil and Gas welcomes anyone interested in learning more about the company to visit their web site at www.paradigmoil.com.
Please click on this link if you would like to see our company video: https://www.youtube.com/watch?v=oR8owvJc7Jk
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