Lighthouse Petroleum, Inc. and Paradigm Oil and Gas, Inc. report the first joint project with Paradigm Oil and Gas to begin oil operations in Haskell County, Texas. Management has approved a budget to begin work for "Project 1" and has scheduled operations to begin by mid-September.
"Project 1" includes the following productive zones: Cook Sands, Hardy B Sands, Swastika, Cross-Cut, Patio A-D Sands, Palo Pinto, Caddo Reef, Mississippian and Ellenberger Limestone. This entire field is considered in-field drilling due to the close proximity of producing wells. These zones lay in a deltaic formation of layered sediments starting at depths of 1200' feet to 4500'.