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PFNO news - PARAFIN WILL FOCUS ON 3-D RE-PROCESSING OF EXISTING SEISMICMar 9, 2010
Pink OTC Markets News Service

Reno, Nevada— PARAFIN CORPORATION WILL FOCUS ON 3-D RE-PROCESSING OF EXISTING SEISMIC DATA FROM THE COMPANYS’ APPROXIMATELY 6,000,000 ACRE HYDROCARBON FARMOUT CONCESSION IN THE REPUBLIC OF PARAGUAY.


Reno, Nevada, March 9th, 2010, ParaFin Corporation (Stock Symbol: PFNO.PK): The Directors of Parafin Corporation have approved a development program for the approximately 6.06 million acre Hydrocarbon Concession in the Republic of Paraguay based on the Geophysical Report of Byron R. Ayme, B.Sc., Consulting Geophysisist, dated January 1, 2010. The report can be viewed on the Corporation web site at www.parafincorp.com .


In acting on the recommendations of the January 1, 2010 report of Byron R. Ayme, B.Sc., Consulting Gepphysisist, Parafin Corporation plans to do extensive 3-D re-processing of all existing seismic data. The re-interpretation of all existing seismic data will be done in Houston, Texas and Calgary, Alberta. The labs have the latest equipment available to do the 3-D re-interpretation of existing seismic.


The Geophysical report dated January 1, 2010 indicates the Alto Parana Region’s Reserves have a very high pobability of approximately 2,000,000,000 (Two Billion) Barrels of Crude. Parafin has concluded that the region also has potential for substantial gas reserves.


Brazil’s latest offshore discovery, estimated at 33,000,000,000 (33 Billion) Barrels, confirms the potential for reserves in the Chaco Parana Basin that covers most of Paraguay and portions of Brazil, Uraguay, Argentina and Bolivia.


After the re-interpretation of all existing seismic data, the Farmout Agreement requires Parafin to drill a well to a depth of the shallowest of (1) eleven thousand five hundred (11,500) feet, (2) the bottom of the Devonian formation or (3) the basement underlying the site of the Farmout Obligation Well on the Alto Parana Concession.




The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not Pink OTC Markets Inc. are solely responsible for the accuracy of such news releases.