Paradigm Oil & Gas Inc.
OTC Bulletin Board : POGI

Paradigm Oil & Gas Inc.

August 11, 2005 09:30 ET

Update: Paradigm Oil & Gas is Pleased to Announce the Sawn Lake Project is Moving Forward

CALGARY, ALBERTA--(CCNMatthews - Aug. 11, 2005) - Paradigm Oil & Gas Inc. (OTCBB:POGI) is pleased to announce that at the August 3rd Joint Operators meeting, Surge Global Energy, the operating company for the Sawn Lake project, announced that the drilling will be moving forward and they had applied for their drilling license on the first hole. David Perez the CEO of Surge expected to be drilling in the next few short weeks.

The company has a 10% working interest (net 5%) in the first two wells that are to be drilled at Sawn Lake.

As press released earlier the drilling on the Todd Creek Well located in 13-28-9-2W5 in Alberta, Canada has been completed and is set to move into the testing stage. The operators continue to keep the well on "tight hole" status. Further news will be released upon completion of testing.

Following the evaluation of the 13-28 well, additional drilling is anticipated during the second half of the year on company lands.

The Company owns a 5% working interest in 13.75 sections of in Todd Creek with an option to earn interests in 7 additional sections of land. The operator of the Todd Creek concession has received a license to install a gas plant facility for up to 10,000 mcf/day of gas to be located just south of Company lands. This plant will give the company immediate access to market.

This press release contains forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the Company's proposed oil and gas related business. The Company's business is subject to various risks, which are discussed in the Company's filings with the Securities and Exchange Commission ("SEC"). The Company's filings may be accessed at the SEC's Edgar system at www.sec.gov.

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