Paradigm Oil and Gas, Inc. announced that a Joint Venture was signed with Energy Revenue America, Inc. Paradigm Oil and Gas, Inc. has entered into a 50% Joint Venture Agreement with Energy Revenue America, Inc. to take advantage of each other's area of expertise in the Oil and Gas Industry. The objective of the joint venture is to exploit opportunities to rework and put in to production reclaimed wells that have a possibility of producing oil and gas. The first target area will be the Eastern Texas and woodbine formation which is the second largest reserves of oil in the United States. Energy Revenue America will introduce Paradigm Oil to leases in Oklahoma that are available for re-work. ERA has a 65 mile natural gas pipeline and 3,000 acres of potential producing wells and target wells for secondary recovery that are easily put back in service. Paradigm will bring to the joint venture additional options; up to 5,000 acres of land prime for re-work within the Mid Continent Region. Management of the companies believe that the venture brings the opportunity to be one of the top producers in the continent for both companies and allows an increase in potential profits by working together and give the opportunity to become one of the larger independent Oil & Gas companies in the region. This venture will supply Paradigm Oil & Gas with a third revenue stream adding natural gas and a 65 mile pipeline. The other two revenue streams are the Centurion Technology which the company has contracts on and several Oil Leases. The venture calls for an initial investment of two million dollars cash and stock to support the first two projects. Both companies will not only benefit by increased revenue and bottom line earnings, but it will also increase shareholders' value in both Companies.

Paradigm Oil and Gas, Inc. announced that while testing one of the wells that had been shut down for the past years. Since wells have been shut down, an H-I5 Test must be performed for the Railroad Commission in compliance with Texas Law. Upon completion this would allow to turn the pumps back on.

Paradigm Oil and Gas, Inc. announced that it hired the final members of the company's Advisory Board which will bring a wealth of knowledge and expertise to Paradigm Oil & Gas. The company Vellardita has hired Mr. Britt Brooks to the Advisory Board. Brooks contributes 16 years of experience in oilfield management, drilling and oilfield finance. In addition, he brings 19 years of experience in Small Cap Finance and Public Company Advisory and many accomplishments, one being the Co-Founder, Officer and Director of TexCom, Inc. Also added to the Paradigm Oil and Gas Advisory Board is Mr. Christopher P. Scully. Mr. Scully is a 36 year veteran in the oil and gas exploration/exploitation business; operating production in both onshore and offshore in Texas and Louisiana. He has drilled/participated in over 350 explorations wells in 12 States and the Country of Turkey. Some of Mr. Scully's notable accomplishments include, being the Principal in the Investment Group that took private Burlington Gas Seam Royalty Trust in a $140 million transaction as well as being the Principal in the Exploration Group that took PetroSearch (PSCP) public. The Advisory Board is completed with the hire of Mr. Weldon Cude, who has been in the oilfield since his early teens, and his Companies have remarkably drilled over 6,000 wells throughout his career. Mr. Cude is the Founder of Premium Drilling, who operated 8 Oil & Gas Rigs, 6 Water Drilling Rigs and managed 400 employees with revenues exceeding $38 Million. He also founded Supreme Vacuum Services, building up to 26 trucks within 18 months. Mr. Cude is recognized for his 24 consecutive years of service as Commissioner for Atascosa County in Texas, also as Businessman of the Year in 1990, Young Citizen of the Year in 1988 and held the position of Director at The County Bank from 1990 to 1996.