Paradigm Oil & Gas Inc., Adds 200 Years of Oil & Gas Exploration and Development Expertise to Their Team.

CALGARY, Alberta -- The Board of Directors of Paradigm Oil & Gas, Inc. ("Paradigm" or "the Company") (OTCBB:POGI), is pleased to announce the signing of an alliance agreement with Actis Geoscience Limited based in London, UK.

In line with its strategy, Paradigm is building alliances with experts of international repute. "The diversity and more than 200 years of combined experience of the Actis Geoscience team will allow Paradigm to pursue international opportunities with the greatest of confidence" says Robert Pek, Director of Paradigm.

Actis Geoscience brings to paradigm a number of highly experienced oil and gas professionals who are experts in exploration, field development, production geology, production and reservoir engineering, equity studies, economic evaluations, commercial negotiations, and acquisitions and divestments. Their skills match those found in the best exploration and production departments of multinational oil companies.

Actis Geoscience has been extremely successful in developing new exploration plays for clients in the 21st and 22nd offshore licensing rounds in the UK Sector of the North Sea. Actis' clients have bid on a total of 20 blocks in the two rounds based on their evaluations, the majority of which were successful.

The Actis team includes the following:

Nigel Essex MA, MSc, FEI 

Nigel graduated in Mechanical Sciences and Business Studies from Cambridge and Edinburgh. He joined Amoco in 1969 and worked on every Amoco development as an economic and contracts analyst. As Amoco UK's Treasurer Nigel was responsible for raising and managing an $800 million multi-bank corporate borrowing base facility. Latterly, Nigel headed the fiscal and economic affairs at United Kingdom Offshore Operators Association (UKOOA)

Peter Barnes BSc, C.Eng., FEI

Peter graduated from the Royal School of Mines at Imperial College, London in 1963 from the Royal School of Mines at Imperial College, London and has forty years of petroleum reservoir engineering experience in the Middle East, Caspian Sea, South America, the North Sea and Canada. Peter worked on Amoco North Sea assets as a Senior Field Development engineer in the Southern and Central North Sea for over twenty years.

M.G.(Mick) Jarvis BA, MA

Mick graduated in Business Administration and International Law. He joined Phillips Petroleum in 1975 as a commercial negotiator working the UKCS and the USA. In 1984 he joined Amoco and held key negotiating positions in London, Houston and Chicago before becoming the Managing Director of Amoco International Gas in Eurasia. In 1999 he joined a Bechtel/GE Capital JV executing a Trans-Caspian pipeline project before joining the British Gas Group as commercial director responsible for gas strategy and LNG projects worldwide.

Hassan Ahmed BSc,MSc, PhD

Hassan holds a B.Sc. and M.Sc. in Reservoir Engineering from Cairo University graduating in 1968. He obtained a Diploma and Ph.D. in Geosciences in 1980 from Frankfurt University in Germany. His career in the North Sea started with Occidental Petroleum as a Production Geophysicist in 1980, where he contributed to the acquisition and interpretation of the first 3-D seismic surveys in the North Sea over Claymore and Piper oil fields and implemented VSP measurements in deviated development wells. Hassan has over 30 years experience in the UK and international oil industry. In addition to the North Sea, his work experience includes Europe, the Middle East, North Africa, the Caspian Sea and India. Since 1993, he has been working as a geophysical consultant for oil and gas companies in the UK and overseas. Hassan is a director of Actis Geoscience.

Shaffin Jaffer BSc., C.Eng, MBA 

Shaffin is an engineer by training and has an MBA from the Yale University School of Business in the United States. He has 17 years experience in international businesses ranging from commodity import / export, property, corporate finance, and acquisitions & divestments. Shaffin has worked for Amoco U.K and GE Capital as an acquisition and divestment specialist. Shaffin's primary role is as an economist and negotiator.

David Marsden B.Sc. Ph.D.,

Dave obtained his doctorate in Geophysics at the University of Leeds and has had over 35 years in the upstream oil and gas business, including roles as Exploration Manager in the Central Graben and Southern North Sea areas of the UKCS and Geophysical Manager with Amoco Europe and Amoco (U.K.) Ltd. His experience ranges from Europe to North and West Africa and North America. He has spent 25 years in the North Sea arena where Dave has assisted in or been responsible for the recognition and discovery of many North Sea oil and gas fields. He is recognized internationally for his work on depth conversion problems essential to the evaluation and development of Southern North Sea fields. Dave is the Managing Director of Actis Geoscience.

Ian Ruddy BSc. C.Eng

Ian is an engineer with an MSc from Imperial College, London. He has over 30 years experience in oil field engineering, both internationally and in the North Sea working projects in production and exploration. Ian has spent 15 years in leadership positions with multi-disciplinary teams managing projects that range from marginal gas fields to major oil field developments. Ian was Amoco U.K.'s Senior Business Process Consultant for two years and is an avid proponent of the philosophy that "what gets measured gets managed".

Tom Windle BSc., MBA

Tom joined Amoco in 1980 as a geologist and worked all the major UKCS basins as an explorationist. In 1990 Tom was appointed to the post of Exploration Operations Manager administrating an annual budget of $70 million, and later as Central North Sea Exploration manager. Tom left BP Amoco having spent three years in the Amoco UK's Strategic Planning and Economics group.

This press release contains forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the Company's proposed oil and gas related business. The Company's business is subject to various risks, which are discussed in the Company's filings with the Securities and Exchange Commission ("SEC"). The Company's filings may be accessed at the SEC's Edgar system at www.sec.gov.

Paradigm Oil & Gas Inc. (OTC Bulletin Board:POGI)