March 28, 2013
/PRNewswire/ -- (OTC PINK: PDGO) and (OTC PINK: ERAO)
, President of Paradigm Oil and Gas Inc. announced today that Paradigm Oil & Gas and Energy Revenue America signed a definitive agreement to merge certain assets from both companies' by the way of a Stock Share Agreement.
"By combining certain assets of both companies; gives us a much stronger foothold in the Oil & Gas Industry," stated
, President of Paradigm Oil and Gas Inc., and Energy Revenue America, Inc.
The transaction is closed; Paradigm Oil and Gas Inc.'s management expects to dividend the shares received from ERAO to PDGO shareholders of record as of
April 15, 2013
Now, with the closing of this transaction, both Companies will have wells of Oil & Gas and nearly 3,000 acres of land leases. In addition they also have a technology Company that has contracts to fulfill for oil wells from
What does this mean for both PDGO and ERAO? Simple: GROWTH and POTENTIAL REVENUE! We believe it will afford us three revenue streams. The first being Oil production, the second being natural gas production and finally, the proven technology from the Centurion which should be highly profitable service based income.
Here is the estimated basis in which management is working off is:
Oil Production & Estimated Cost: Revenue estimated at
per barrel, lifting cost of about
per barrel and net about
per barrel. The estimated gross margin for the production of oil is expected to be about 50% depending on commodity market prices.
Gas Production & Estimated Cost: Revenue estimated about
MCF, cost about
MCF and net about
MCF. The estimated gross margin for the production of Natural Gas Production is expected to be about 37.9% depending on commodity market prices.
Centurion Technology working a 40 hour week at
per hour earns about
per week with estimated operating cost of
per week, expected to Gross Margin about
per week without additional services added.
"I am thrilled to be working with
and the Paradigm Oil & Gas team. What they do for the venture; enables me to focus on the development and production of our Oil & Gas Company, which increases Shareholder value and allows me to live my dream of potentially building the one of the largest Oil & Gas Companies in the Mid West," stated
, CEO of Energy Revenue America, Inc.