Olivier Ventures Inc. V.PPE

Pacific Paradym acquires interest in Sinclair Fiel

[BayStreetkid]

2011-02-17 11:32 ET - News Release

Mr. Harry Chew reports

ACQUISITION OF LAND INTERESTS IN THE SINCLAIR FIELD IN MANITOBA

Pacific Paradym Energy Inc. has acquired an interest in lands with offsetting Bakken oil production in the Sinclair field in Manitoba for an undisclosed consideration. The lands have a recently drilled Bakken horizontal well and the potential for a second horizontal well to be developed at a future date.

About the Sinclair field, Manitoba

The Sinclair field was discovered in 1954 and has been under continuous development since that time having over 610 wells drilled with more than 530 currently producing and having estimated reserves of 6.8 million cubic metres of oil. To date the Bakken and related formations have produced over four million barrels of light oil from several large oil pools in Manitoba. Recently the Bakken formation has been redeveloped with horizontal multi-stage frac technology which has proven to increase both oil rate and oil reserves compared to vertical wells.

Harry Chew, president of Pacific Paradym said: "We are excited to be acquiring lands with Bakken oil potential in a prolific and proved field such as Sinclair. We hope that this acquisition will add to the Company's current production and cash flow, building on its previous successes."

We seek Safe Harbor.