Paradigm retires 150 million common-stock shares

Paradigm Oil and Gas Inc.

Paradigm Oil and Gas Inc. (OTC PINK: PDGO) has retired an additional 150 million shares of common stock and returned them to the treasury of the company's authorized shares. This, along with the 70 million shares the company cancelled a few weeks ago, decreases its issued and outstanding shares by 220 million. In the past few weeks alone, Paradigm has reduced the issued and outstanding shares by close to 50 percent.  

The company is planning a share buy back from its outstanding float with an insider tender offer to purchase the necessary shares to keep the corporate structure to about 100 million shares issued and outstanding in its treasury. 

Paradigm Oil and Gas Inc. provides service work to the oil and gas marketplace. The company strives to identify oil-producing wells and use modern technology to make them profitable based on modern commodity pricing. It has several proven oil production leases and options for many more, holds the rights to the Centurion Technology, and owns rigs that target shallow stripper wells.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...