Business
Paradigm Oil & Gas: Weekly Oil Production Continues to Climb
Paradigm Oil & Gas: Weekly Oil Production Continues to Climb.
About this update from Paradigm Oil And Gas, Inc.
[{"type":"text","content":"\n \n \n Paradigm Oil & Gas: Weekly Oil Production Continues to Climb\n \n \nParadigm Oil & Gas: Weekly Oil Production Continues to Climb\n \n DALLAS, TX--(Marketwired - Jun 24, 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 5 of its wells cumulatively produced a total of 688 barrels of oil last week, valued at more than $73 thousand dollars at a conservative market value of $107 per barrel.\n The company reports last weeks' production from leases in Texas and Louisiana as:\n Lucy Lee - 142 barrels, Travis Mina - 250 barrels, Miller lease - 148 barrels, Adobe lease (in only 2 days) - 38 barrels, and Perry lease - 110 barrels. While the Lucy Lee, Travis Mina, and Perry properties have been stalwarts of the Company's oil producing portfolio for some time, the Miller and Adobe leases were acquired in recent acquisitions strategically designed to expand Paradigm's oil production capacity.\n \"Skeptics questioned our $100k monthly revenue projections and we nearly got that last week,\" stated Vince Vellardita, Paradigm Oil and Gas CEO. He added, \"The proof is in the numbers, and the numbers point to a steadily growing, sustainable stream of revenue from oil production and in Texas alone we still have over 85 wells to rework and turn them into production.\"\n Based on the current scenario of oil production, the Company forecasts nearly four million dollars in annual revenue. Analysts are expecting a breakout for Paradigm's stock if current levels of oil production and revenue continue. \"Paradigm anticipates filing its audited 2013 and 2014 first quarter in early July and that will prove to the shareholders that we do not belong as a penny stock,\" stated Vince Vellardita.\n Paradigm Oil and Gas welcomes anyone interested in learning more about the company to visit their web site at www.paradigmoil.com.\n About Paradigm Oil and Gas, Inc.\n \n Paradigm Oil and Gas Inc. (OTC Pink: PDGO) (PINKSHEETS: 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 ...