LevelStock.com: Paradigm Oil and Gas, Inc. (PDGO) Acquires 3 More Oil Leases

Paradigm Oil and Gas, Inc. (OTCBB: PDGO) is pleased to announce today that the Company has recently acquired 3 more Oil leases in Texas, to add to its Oil and Gas property portfolio. Combined these properties cover 214 acres and have 14 previously producing wells with spacing available to drill an additional 54 shallow wells.

"These properties are excellent candidates to deploy the Company's new Transportable Enhanced Oil Recovery Platform which we should be taking delivery of the first unit this quarter", explains CEO Ron Polli.

In further detail, the Company acquired a 50% working interest in the 80% Net Revenue Interest on the Corsicana lease. Corsicana has 9 previously producing wells and has spacing over a total of 60 acres to support the potential of 17 new wells to depths of up to 2000 feet. The Corsicana lease is located in Navarro County, Texas.

The 2nd and 3rd additional leases, known as Chilson B are adjacent to the Company's existing Chilson A property located in Wichita County, Texas. These 2 new leases have 5 previously producing wells and have spacing over a total of 154 acres to support the potential of 37 new wells to depths of up to 2000 feet.

About Paradigm Oil & Gas, Inc.

Paradigm Oil & Gas Inc. (OTCBB: PDGO) identifies and acquires energy properties with previously discovered known oil and gas reserves that have not either been fully produced from, or fully developed and defined. Utilizing new technologies, Paradigm expects to generate profit from these previously producing wells. The company has acquired properties covering 1,148 acres all located in the State of Texas, USA. Combined there are a total of 23 existing previously producing wells and available spacing to support the drilling of approximately 30 new wells in the 3,800' to 9,000' range and approximately 100 new wells in the 800' to 1,800' range. For more information about Paradigm Oil & Gas, visit the website at www.ParadigmOilInc.com.

Safe Harbor

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Paradigm Oil & Gas, Inc. with members of its management team as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

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