Paradigm Oil and Gas Inc (PDGO)

[MIKEY501]

From todays PR:

Paradigm has 106 wells currently under lease and has needed this leadership and management role that will be focused on turning the wells into cash flowing assets. Lighthouse and Paradigm have already begun marketing 3 well packages for partners to farm in on the leases. The Company plans to offer packages with estimated costs to the farm in partners of between $150,000 to $250,000 per package while retaining a 20% carried interest in the wells. Paradigm has leases in Navarro County that has permitted injection wells. Management is exploring the possibility of an application to the state regulatory agency and with a modest investment could build a commercial water disposal facility. The geographic coverage for the combined assets of Lighthouse and Paradigm would cover areas from Louisiana to Eastern Texas and additional areas in Western Texas making a regional asset play.