SOURCE: Parafin Corporation

April 11, 2007 17:03 ET

ParaFin Corporation Signs Letter of Intent to Acquire Production and Development Sites in the Republic of Columbia, South America

PALM SPRINGS, CA -- (MARKET WIRE) -- April 11, 2007 -- ParaFin Corporation (OTCBB: PFNC): the Board of Directors of ParaFin Corporation (Parafin) announces that Parafin has made an offer to acquire a 50% working interest in a Hydrocarbon Concession and operating oil field in the Republic of Columbia, South America.

The Concession consists of approximately 7,000 hectares. It currently has four (4) producing wells with the potential for up to an additional twenty-six (26) offset locations.

Parafin has signed a Letter of Intent with the Trustee of the owner of the Concession (the Company) which gives it ninety (90) days to evaluate the Concession. The Trustee for Company has agreed to provide substantial geological, geophysical logs and other pertinant documents in support of the proven reserves and to assist in the evaluation and potential for future drilling locations.

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward-looking statements are further qualified by other factors including, but not limited to those, set forth in the company's Form 10-KSB filing and other filings with the United States Securities and Exchange Commission (available at www.sec.gov). The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.

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