Paradigm Oil & Gas, Inc.
OTC Bulletin Board : PDGO

Paradigm Oil & Gas, Inc.

September 29, 2010 12:23 ET

Paradigm Oil and Gas Inc. (PDGO) Takes Delivery of First Transportable Enhanced Oil Recovery Platform

MABANK, TEXAS--(Marketwire - Sept. 29, 2010) - Paradigm Oil and Gas, Inc. (OTCBB:PDGO) is pleased to announce that it took delivery today of the first Transportable Enhanced Oil Recovery (T-EOR) Platform. The T-EOR Platform, a new and innovative industry oil production system, is a turnkey integrated and portable oil recovery platform that can be deployed quickly and economically to recover oil from previously producing oil wells with known oil reserves that have not been fully developed. The company has identified over 6,000 abandoned wells in the State of Texas alone that are potential oil producing candidates for the T-EOR Platform. This new system is only the first of many that the company plans to deploy over the coming years.

"We are excited to have received this system on schedule and will now begin calibrating and testing it for production deployment on the company's existing properties in the coming weeks", said Mr. Ron Polli, President of Paradigm, "We engineered this system to handle the extreme rigors found in oil fields, with capabilities to produce initially from wells up to 1,150 feet in depth. The unit can be expanded to handle wells up to 7,500 feet in depth with the add on of additional flexible tubing. We have now begun to contact land owners and operators to enter into agreements for our T-EOR program on properties with suitable oil well candidates."

A Paradigm shift is coming to the way oil is extracted

Things are slow to change in the oil fields. What worked for one generation is viewed as status quo for the next generation of oil men. It is this mentality that has lead to over 6000 wells being abandoned in the state of Texas alone. Using old technology, these wells have proven to be unprofitable to produce from, so the wells become abandoned.

By using the Transportable Enhanced Oil Recovery Platform, oil production from these previously producing abandoned wells is now economically viable. One platform can profitably service and produce oil from a group of wells on a rotating basis. Production levels can then be monitored to pinpoint and identify the wells where further investment in a permanent installation of pumping equipment would be warranted for ongoing production.

The Transportable Enhanced Oil Recovery Platform is mounted on a highly reinforced two axle trailer and can be pulled by any 1 ton pickup. Mounted on the trailer is a 20k generator, a hydraulic pump, a tank that will hold up to 42 barrels of oil and up to 7,500 feet of flexible tubing with a submersible pump attached to the end of the tubing. With this platform rig, it takes one man under 10 minutes, to have the pump down to the oil and pumping into the tank.

The Paradigm continues to shift

Most oil wells run on a timer. They might pump twice a day for 20 minutes at a time because the pump should not be allowed to run dry. Our timer is Mother Nature. These abandoned wells have been sitting for many years, allowing the oil to seep into the well bore. Nature has also separated the oil from any water that might be in the well. Allowing oil wells to sit for days or weeks between pumping intervals makes more sense and should result in a much lower cost of lifting oil to the surface.

About Paradigm Oil & Gas, Inc.

Paradigm Oil & Gas Inc. (OTCBB:PDGO) identifies and acquires energy properties with previously discovered known oil and gas reserves that have not either been fully produced from, or fully developed and defined. Utilizing new technologies like the Transportable Enhanced Oil Recovery Platform, Paradigm expects to generate profit from these previously producing wells. The company has acquired properties covering 1,148 acres all located in the State of Texas, USA. Combined there are a total of 23 existing previously producing wells and available spacing to support the drilling of approximately 30 new wells in the 3,800' to 9,000' range and approximately 100 new wells in the 800' to 1,800' range. For more information about Paradigm Oil & Gas, visit the website at www.ParadigmOilInc.com.

Safe Harbor

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Paradigm Oil & Gas, Inc. with members of its management team as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

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