posted
Pilgrim common stock could be worth approximately: $US10.07 billion divided by 322,720,011 common shares = $33.15 per share.
May 05, 2006 (M2 PRESSWIRE via COMTEX) -- Pilgrim Petroleum Corporation (OTCPK:PGPM), is a company that our research team will be tracking over the ensuing weeks. They recently came out with a significant corporate development, causing a market stir. The BWR Research Team will continue to bring its subscribers cutting edge research tools, and second to none customer service.
Pilgrim Petroleum Corporation an independent oil and gas company, announced that it achieved record sales and profitability for the previous quarter ending March 31, 2006; over triple from last year.
The Company also maintained its debt free status and increased its shareholders equity. These figures don't include the value of our Puds or Unproven Reserves, we will include these figures on the next quarter since our proven reserves are increasing daily. Today current oil price structure and its know-how and cost-effective technology will contribute to targeting new prospects with low level risks and undiscovered recoverable and unrecoverable oil by traditional technology.
Pilgrim Petroleum Corporation CEO Rafael Pinedo said: "Our financial performance for the quarter well exceeded our expectations and our previous guidance, yet we look forward to maintaining our growth for some time as oil prices increase, all the while sustaining significant profitability
Monday the company released their plans of steadily working on increasing production in its current portfolio of leases on American Petroleum Corporation & General Energy Corp both subsidiaries and operators of Pilgrim.
Based on a 12,000-acre portfolio of proven undeveloped fields in the area of Archer and Wichita County, Texas, Pilgrim Petroleum estimates very high volumes of recoverable reserves. If the whole estimated subsurface is taken into consideration when calculating the potential of recoverable oil, the estimation reveals an approximate of 900 million barrels of recoverable oil.
At US$60 per barrel for proven reserves and a portfolio that generates 900 million barrels of oil, Pilgrim Petroleum can be valued conservatively at 900 million barrels x 20% net revenue interest to Pilgrim Petroleum x US$60 per barrel = $10.08 billion less $100 million net development cost = $US10.07 billion in potential assets if fully developed. Pilgrim common stock could be worth approximately: $US10.07 billion divided by 322,720,011 common shares = $33.15 per share. this announcement Pilgrim Petroleum Corporation shares shot up significantly as investors pounced on this company's cheap shares, bringing it to nearly $0.30 a share.
Since then however, shares have fallen off a bit as it currently trades at around $0.11 a share on fairly strong volume. This company is highly volatile as investor sentiment has dramatically changed over the last few days. The BWR Research Team will continue to follow the market sentiment on this company and numerous others.
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posted
DIGG is a better oil play. They are sitting on a % of 1.1 Trillion Barrels of Oil with only 37 Million shares outstanding.
"PRIVATCO is currently accumulating mineral interests in the vast oil shale reserves within the Green River Formation of Colorado, Utah and Wyoming. Their proprietary HTFC technology will subsequently be deployed to produce oil, other hydrocarbon products and electricity for sale into North American energy markets. PRIVATCO has already informed Digital Gas that on just one property of less than 2,000 acres that it owns the mineral rights to, 800 million to 1.1 billion barrels of oil are expected to be recoverable."
PGPM Im sure issued a ton of stock into that PR, whereas DIGG has been extremely tight with their share structure.
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PGPM: To Acquire Well Service Provider in Saginaw, Texas [delayed] 11:08 a.m. 06/07/2006 Provided by
Ridgeland, MS, JUN 07, 2006 (EventX/Knobias .com via COMTEX) -- Pilgrim Petroleum Corporation (PGPM) announced negotiations to acquire a Well Service Provider located in Saginaw, Texas. This company provides an assortment of well site services in the North West Texas area. Its operating asset base includes well servicing rigs, tools, as well as other drilling service equipment. A final agreement will be completed by the end of this week.
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posted
Pilgram is on 900 Million barrels conservatively worth $US10.07 billion divided by 322,720,011 common shares = $33.15 per. There is nothing in news about new shares issued. they are dividing by a finite number of shares to determine this value.
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Haha. Whoever wrote that piece up there is a little slow. PGPM had their reserves evaluated and released the results last week. Their "900 million barrels" turned out to be just 4 million. And the only own 20% of that 4 million.
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"Threads" are Topics. I.e. this topic that you created is a "thread".
There's another one on PGPM just below this one. And it's got current information on PGPM. Wherever you got your info it's a couple months late.
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There is already a thread for this stock,80+ pages. Notice you were "born" yesterday. hhhmmmm. They must be getting desparate!!!! Just scroll down the page a ways,yall find de thread.
-------------------- It takes a lot of attaboys to make up for an aww chit
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OK.. there is 322,720,011 altogether. approx. 130M in the float, the rest restricted. No new shares have been issued. They are much smaller than I supposed, but after talking to them I'm still alright.
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I knew my info was from May 5. I do my Research, I just found this bloody website the day before yesterday. i was being sarcastic. I figured out what a thread was immediately. It was someones comment "How many threads does this POS need Bob?" no wonder the rating, huh?
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I've had the stock for weeks. I just found this sight, and thought I'd post what I thought was a good discovery. I didn't expect to get ATTACKED.
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No...just what I posted. 125M in float 322M restricted. they are not planning to issue any new stock. there is one holder of restricted stock that will be allowed to sell in the fall? does this make sense? they can sell 1% per QTR or 3 Million shares every 90 days. but they reiterated, all shares are included in the 322M
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BillP3 & Mike96...same? Two brand new,start new thread,and "on the phone" after hours...lmao.Which one is Fast Eddie Monet? And if the info is correct,the float has nearly doubled in a month,"restricted shares", figured Fast Eddie and American Crapital were in this up to their eyeballs. Expect MORE dilution. B & M...go to the real thread,start,oh,about page 50 and read. Yall find out WHY this is a POS.SCAM. But,JMHO(im humble again)
-------------------- It takes a lot of attaboys to make up for an aww chit
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