Paradigm Oil and Gas, Inc. closes transaction to combine assets
with Energy Revenue America, Inc.
DALLAS, 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.
"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.
The 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.
Now, 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.
What 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.
Here is the estimated basis in which management is working off
is:
Oil 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.
Gas Production & Estimated Cost: Revenue estimated about
$3.35 MCF, cost about $2.08 MCF and net about $1.27 MCF. The estimated gross margin for the
production of Natural Gas Production is expected to be about 37.9%
depending on commodity market prices.
Centurion Technology working a 40 hour week at $150 per hour earns about $6,000 per week with estimated operating cost of
$2,750 per week, expected to Gross
Margin about $3,250 per week without
additional services added.
"I am thrilled to be working with Vince
Vellardita and the Paradigm Oil & Gas team. What
they do for the venture; enables me to focus on the development and
production of our Oil & Gas Company, which increases
Shareholder value and allows me to live my dream of potentially
building the one of the largest Oil & Gas Companies in the Mid
West," stated Charley Havens, CEO of
Energy Revenue America, Inc.
About Paradigm Oil and Gas, Inc.
Paradigm Oil and Gas, Inc. (OTC Pink: PDGO) is a dynamic company in
business to provide both, service work to the oil and gas
marketplace and to produce oil. Paradigm's goal is to identify oil
producing wells and use modern technology to make them profitable
based on modern commodity pricing. Paradigm Oil & Gas has
several proven oil production leases and options for many more and
also holds the rights to the Centurion Technology and owns rigs
that target the shallow stripper wells.
For more information about Paradigm Oil and Gas, visit the
website at: www.paradigmpdgo.com. If you wish to be added to
PDGO's mailing list, please email: vince@paradigmpdgo.com
About Energy Revenue America, Inc.
(OTC: ERAO). ERA was formed to become an equity partner in various
energy deals. Their goal is to recognize the value in a transaction
and provide the capital to enhance the value of those projects, to
the benefit of all parties. ERA presently owns a 65 mile
pipeline and 3,000 acres along it providing natural gas
production. They have many existing wells requiring re-work
into the natural gas plays and transporting third party natural gas
production to their purchaser.
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. Revenue estimated in this release is
subject to change based on commodity market pricing and unknown
factors to management therefore making all the estimates wrong.
You should consider these factors in evaluating the
forward-looking statements included herein, and not place undue
reliance on such statements.
Contact:
Vince Vellardita, President
Paradigm Oil and Gas, Inc.
vince@paradigmpdgo.com
1-727-595-8101
SOURCE Paradigm Oil and Gas, Inc.