PARAFIN CORP (PRFN)

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Parafin Corporation Has Received Projected Cash Flow Figures and Production Details From the Operators of BlackGas Energy LLC

HOUSTON, TX, Dec 19, 2005 (MARKET WIRE via COMTEX) --
Parafin Corporation (OTC BB: PRFN)

The operators of BlackGas estimate that each well will produce thirty five to seventy five thousand cubic feet per day. The coal bed methane fields require inexpensive low depth drilling. Drilling estimates range from $4,000 to $12,000 per each well, depending on depth. The operators of BlackGas estimate the turnkey cost per finished well should average $50,000 per location.

Based on the business plan of BlackGas, at $6.80 per mcf, this results in an estimated net profit of $83,500 per well per year. Gas prices have risen over the past year and projections based on $8.50 per mcf would increase the net profit to approximately $114,000 per well per year. The operators' projections @ $8.50 per mcf for the total of one thousand wells would produce approximately $114,000,000 per year to the partnership.

The methane fields have been mapped for coal bed seams and drilling locations. Three test holes have been drilled with positive flare tests. There are four primary, and two secondary coal bed methane pay zones. They vary in depth from three hundred feet to thirteen hundred feet depending upon field, with seventy percent of the field overlapping.

Drilling time is fairly short, about five to nine hours per well. Preparing the well for production takes an additional fourteen days. The well can begin producing commercial production in as little as two days or as long as two months depending on the number of wells in operation. 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 http://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 ParaFin Corporation.

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SOURCE: Parafin Corporation