Source: Paradigm Oil and Gas, Inc.
Paradigm Oil and Gas, Inc., (PDGO) is no longer planning to acquire Lighthouse Petroleum, Inc., based on the reduction in share price since the merger was announced and feedback that most investors didn't want to merge the two companies while simultaneously attempting to rebuild.
Paradigm plans to begin exploring the following opportunities:
1. Paradigm has begun discussion with LTS operating, an oil and gas operator currently operating over 180 wells in Texas. LTS and Paradigm currently have a working relationship based on the Clark Lease in Kemp, Texas. The goal of Paradigm's Management is is to secure a joint venture with LTS with a long term view towards Paradigm potentially acquiring LTS.
2. Paradigm will focus on acquiring new properties in Eastern Texas and Northwestern Louisiana. One of Management's goals is to acquire a couple targeted wells in Gregg County, Texas.
3. Paradigm recently signed a partnership agreement on a lease in West Caddo Parrish for 11 wells. The main investor in that project began discussion with Paradigm to potentially acquire the 11 wells that are currently producing oil.
4. Management is also pursuing several other options that will be disclosed as developments, material information or agreements are available.
