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Paradigm Oil and Gas, Inc. closes transaction to combine assets with Energy Revenue America, Inc.
Paradigm Oil and Gas, Inc. closes transaction to combine assets with Energy Revenue America, Inc..
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[{"type":"text","content":"\n\n\n\n\n\n\n\nParadigm Oil and Gas, Inc. closes transaction to combine assets with Energy Revenue America, Inc.\n\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:\"0in\";\n}\n\n\n\n\n\n\n\n\n\n\nParadigm Oil and Gas, Inc. closes transaction to combine assets with Energy Revenue America, Inc.\n\nPR Newswire\n\nDALLAS, March 28, 2013\n\n\n\n\n\n\n\nDALLAS, March 28, 2013 /PRNewswire/ -- (OTC PINK: PDGO) and (OTC PINK: ERAO) Vince Vellardita, President of Paradigm Oil and Gas Inc. announced today that Paradigm Oil & Gas and Energy Revenue America signed a definitive agreement to merge certain assets from both companies' by the way of a Stock Share Agreement.\n\n\n\"By combining certain assets of both companies; gives us a much stronger foothold in the Oil & Gas Industry,\" stated Vince Vellardita, President of Paradigm Oil and Gas Inc., and Energy Revenue America, Inc. \n\n\nThe transaction is closed; Paradigm Oil and Gas Inc.'s management expects to dividend the shares received from ERAO to PDGO shareholders of record as of April 15, 2013. \n\n\nNow, with the closing of this transaction, both Companies will have wells of Oil & Gas and nearly 3,000 acres of land leases. In addition they also have a technology Company that has contracts to fulfill for oil wells from Oklahoma to Texas.\n\n\nWhat does this mean for both PDGO and ERAO? Simple: GROWTH and POTENTIAL REVENUE! We believe it will afford us three revenue streams. The first being Oil production, the second being natural gas production and finally, the proven technology from the Centurion which should be highly profitable service based income. \n\n\nHere is the estimated basis in which management is working off is:\n\n\n\n\nOil Production & Estimated Cost: Revenue estimated at $90 per barrel, lifting cost of about $45 per barrel and net about $45 per barrel. The estimated gross margin for the production of oil is expected to be about 50% depending on commodity market prices.\n\n\nGas Production & Estimated Cost: Revenue estimated about $3.35 MCF, cost about $2.08 MCF and ...