Paradigm Oil and Gas, Inc. has withdrawn its offer to purchase a 4,000 square foot commercial facility situated on 4 acres along US Highway 175 in West Athens, Texas.

"After conducting the necessary due diligence to finalize the transaction, we determined that this particular acquisition was not in the best interest of the Company," stated Vince Vellardita, Chairman and CEO of Paradigm Oil & Gas. Vellardita added, "Once we have a new Chief Financial Officer (CFO) in place, we will resume the search for a location to establish a more efficient and cost-effective field services operation.

Tags: Paradigm Oil and Gas Inc.