| Zuordnung: PARADIGM OIL AND GAS INC |
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Warum ausgerechnet heute der Kurs gestiegen ist weiß ich auch nicht, aber man sollte sich doch mal die Firma etwas genauer ansehen! Es gibt um die 38 Millionen Aktien. http://www.paradigmoilandgas.com info@pardigmoilandgas Press Release Source: Paradigm Oil and Gas, Inc. Major Oil Sands Development Project in Alberta Canada Moves Ahead Tuesday January 17, 9:00 am ET CALGARY, AB--(MARKET WIRE)--Jan 17, 2006 -- Paradigm Oil and Gas Inc. (OTC BB  OGI.OB - News)Paradigm Oil And Gas, Inc.'s strategy of acquiring small interests in a variety of domestic and international upstream oil and gas projects is moving ahead at a time when gas and oil prices have spiked to all-time highs. POGI has acquired promising diversified interests in natural gas properties in Southern Alberta, and a heavy oil project in central Alberta. ADVERTISEMENT Of particular interest, is the Sawn Lake heavy oil project, located in Alberta's Peace River region, which is home to some of the world's largest oil sands with an estimated 820 million barrels in place. The province of Alberta contains approximately 1.6 trillion barrels of heavy oil in unconventional oil sands deposits. Based on an 11% recovery factor, Canada's recoverable reserves increased from just under 5 billion barrels to 180 billion barrels in 2003, making the country's oil reserve the second largest in the world, behind Saudi Arabia. Worldwide conventional oil production is projected to decline while heavy oil production is expected to more than double from the current level of over 1.0 million barrels per day within 10 years. Given the new technology, management believes that the break-even oil price at which the Sawn Lake project shows viability is approximately US $17.23. There is also a significant gas concentration present. With the unquenchable global demand for more energy and oil currently trading at $60-65 per barrel the possibilities for gain are substantial. Calgary-based, Deep Well Oil & Gas Inc. is the major stakeholder in the Sawn Lake project. They have embarked on an extensive drilling program to systematically define the heavy oil reservoir section-by-section, which is showing promising results. Laboratory analysis determined the core from the vertical well has an average porosity of 32%, permeability in the range of 4 darcys, and over 40 feet of oil pay. The plan will then be to initiate production from each drilled location as soon as practical in order to generate an early positive cash flow. Full production will be coordinated with the start-up of the field enhancement facility to minimize dependence upon trucking. The Sawn Lake Heavy Oil Project is advantageously situated since the property is in very close proximity to both oil and gas pipelines. Furthermore, these existing pipelines have a significant excess capacity that may become available to the Company. The project has similar geological characteristics to the proven Seal Field project producing heavy oil from the same Bluesky reservoir formation where primary production without any enhanced recovery is 2,500 barrels per day for the first nine months ended September 30, 2004. Average primary well productivity is 400- 500 barrels per day. Because of earlier extensive exploration for deeper light oil, the Sawn Lake project is able to benefit from extensive data collected by others. A third party report stated reserves in place at Sawn Lake have been estimated by engineers at 1.2 billion barrels (gross) pf 10-degree API oil; with a recovery under primary (cold) production of 8%. This would return net for a 10% working interest of 9.6 million barrels of oil. Secondary production could result in doubling or greater of the recoverable reserves. The report further stated this type of oil in the area is receiving approximately $45.00/b. Paradigm currently has an interest in only the first two wells, with an option to participate in additional wells, under terms to be negotiated at some point in the future. Paradigm Oil and Gas, Inc. has 36.4 million common shares outstanding, and has no debt. There are no options or warrants outstanding. They are guided by a consummate international team with over two hundred years of experience in the oil and gas industry. About Paradigm Oil and Gas Paradigm is a junior oil and gas exploration company headquartered in Calgary, Alberta Canada. Its management believes in taking interests in low risk Western Canadian energy projects and developing them jointly with experienced operators maintaining low overheads for the Company. It currently holds interests in the Sawn Lake oil sands project which is on 63 contiguous sections in North Western Alberta and in the Todd Creek and Hillsprings exploration project with options to participate in 7 additional sections. Forward-Looking Statement This press release contains forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the Company's proposed oil and gas related business. The Company's business is subject to various risks, which are discussed in the Company's filings with the Securities and Exchange Commission ("SEC"  . The Company's filings may be accessed at the SEC's Edgar system at www.sec.gov.Distributed by Filing Services Canada and retransmitted by Market Wire Contact: Contact: Paradigm Oil and Gas Inc. Greg Werbowski Toll Free - 1-877-685-7719 Email - info@pardigmoilandgas Website - http://www.paradigmoilandgas.com |
ISIN: US69901U1088
