Paradigm Oil & Gas: weekly oil production continues to climb

Paradigm Oil and Gas, Inc., a leading service provider to the oil and gas industry with expanding operations in oil and gas production, today announced that five of its wells cumulatively produced a total of 688 bbls of oil last week, valued at more than US$ 73 000 at a conservative market value of US$ 107 per bbl.

The company reports last weeks' production from leases in Texas and Louisiana as:Lucy Lee - 142 bbls, Travis Mina - 250 bbls, Miller lease - 148 bbls, Adobe lease (in only two days) - 38 bbls, and Perry lease - 110 bbls. 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.

"Skeptics questioned our US$ 100 000 monthly revenue projections and we nearly got that last week," stated Vince Vellardita, Paradigm Oil and Gas Chief Executive Officer. 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."

Based on the current scenario of oil production, the company forecasts nearly US$ 4 million 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.

About Paradigm Oil and Gas, Inc.

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 aggressively pursuing additional land options that will significantly increase its oil and gas production capabilities.

Adapted from press release by Hannah Priestley-Eaton

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