Paradigm Joint Venture which is part of the Paradigm group,has a very interesting business model.
Geologic Sciences.
We use a patented and demonstrated micro-aeromagnetics technology that improves exploration productivity and reduces pre-drilling costs by identifying high-probability exploration targets "Before having to secure the drilling rights". Identified prospects are confirmed with subsurface geology,geophysics and geochemistry.
Drilling.
Our prospects are strictly exploratory in nature and contain sufficient areal extent for development drilling after discovery of 5-10 wells if the reserves are primarily natural gas and 10-30 wells if the reserves are primarily oil.
Statistical Analysis.
Based on statistics from more than 6,000 wells drilled in the United States,in 11 different exploration plays,using the same technologies,"we expect our wildcat success ratio's to be greater than 80%",with significant payout to investors.
To have the cotton valley lime play tick the necessary boxes,in this companies stringent assessment criteria is very encouraging indeed.
Other players contemplating/or drilling under the lakeshore area include Dallas Production Inc(over $70m in annual revenues).
Best of luck to all.
TPD Price at posting:
3.8¢ Sentiment: Hold Disclosure: Held
