Pilgrim Petroleum Corporation (Pink Sheets:PGPM), an independent oil and gas company, predicts record growth above expectations for second quarter 2006. Results for the quarter along with some great news will be disclosed next week. Much of the Company's performance was generated from our field services unit along with the acquisitions of the last two months. Pilgrim Petroleum earned continuing revenue streams from reactivation of inactive wells and will be focused during the third and fourth quarter of 2006 to increase production with different recovery process along with new drilling activities. According to Rafael Pinedo, President and CEO, "We have made significant operational progress moving the Company from an organization and acquisition stage to a point where our primary focus is now exploration, production and distribution. The time has come to realign our value share base. Turning to the future, I firmly believe that Pilgrim Petroleum has the strategy, technology, people and now the capital structure in place to deliver short-term shareholder value."
About Pilgrim Petroleum Corporation
Headquartered in Irving, Texas, Pilgrim Petroleum Corporation is a publicly traded company (Pink Sheets:PGPM). The company is acquiring oil and gas leases, producing properties, mineral rights and surface interests primary on marginal fields. Once acquired, the company intends to develop each property to maximize the income from each by refurbishing and improving the existing production. Forward-Looking Statements: The statements which are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including but not limited to, the effects of economic conditions, the impact of competition, the results of financing efforts, changes in consumers' preferences and trends. The words "estimate," "possible," and "seeking" and similar expressions identify forward-looking statements, which speak only to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events, or otherwise. Future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward-looking statements. 2006 Pilgrim Petroleum Corporation. The information herein is subject to change without notice. Pilgrim Petroleum Corporation shall not be liable for technical or editorial errors or omissions contained herein. Contacts:
Pilgrim Petroleum Corporation, Irving Eddie Monet: 619-864-0166 emonet*americancapitalipo.com www.apetroleum.comPosts: 5120 | Registered: Jun 2004
| IP: Logged |
posted
I kind of have to agree with OILDOG. If peopole are unaware of the previous PRs, they could get burnt by this. At least post a link to the other thread for people who want to do more research before buying.
posted
They released a PR saying that they potentially had Xbillion barrels of oil and the equivalent share price would be like $33/share. It was trading around where it is now, and went up signiifcantly. Then peopel started to read more into the PR and found out that that was if every square inch of land was filled with oil, (I'm not 100% sure of the details here, just going by memory). The price plummeted. Then they released more PRs saying that they were having an independent company come in and calculate their reserves and the price went back up. Then the report was released and it said they had something like .1% of what they said in the PR. and the price crashed again. Just be careful is all I'm saying.
P.S. I have shares of this from .14 I think, so I certainly want it to go up, but I don't want it to go up at the expense of others.
quote:Originally posted by Hold-em-er-fold-em: burnt by what? clarify please!!
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
| IP: Logged |
quote:Originally posted by PCola77: They released a PR saying that they potentially had Xbillion barrels of oil and the equivalent share price would be like $33/share. It was trading around where it is now, and went up signiifcantly. Then peopel started to read more into the PR and found out that that was if every square inch of land was filled with oil, (I'm not 100% sure of the details here, just going by memory). The price plummeted. Then they released more PRs saying that they were having an independent company come in and calculate their reserves and the price went back up. Then the report was released and it said they had something like .1% of what they said in the PR. and the price crashed again. Just be careful is all I'm saying.
P.S. I have shares of this from .14 I think, so I certainly want it to go up, but I don't want it to go up at the expense of others.
quote:Originally posted by Hold-em-er-fold-em: burnt by what? clarify please!!
That is what happens whem people invest in these POS.... Daytrade them ... got it at .06 out at .085
and if it rebounds good i will try to flip it again...... Posts: 5120 | Registered: Jun 2004
| IP: Logged |
posted
Good point Pcola77. I almost burned by this one then too but got out at like $500 loss. I am not getting back in any time soon. I think it was like they announced 900 Million barrels of oil then had like 3 million...
-------------------- All I say is IMHO.
I like these calm little moments before the storm... Reminds me of Bethoven Posts: 3255 | From: Orlando, FL | Registered: Mar 2006
| IP: Logged |
posted
Agree. I'm not telling anyone not to trade it, just to be careful, and not expect it to be a good performing long term hold.
I've made my share (maybe more than my share...) of mistakes and just try to pass along what I've learned in the process.
quote:Originally posted by Prdponce:
quote:Originally posted by PCola77: They released a PR saying that they potentially had Xbillion barrels of oil and the equivalent share price would be like $33/share. It was trading around where it is now, and went up signiifcantly. Then peopel started to read more into the PR and found out that that was if every square inch of land was filled with oil, (I'm not 100% sure of the details here, just going by memory). The price plummeted. Then they released more PRs saying that they were having an independent company come in and calculate their reserves and the price went back up. Then the report was released and it said they had something like .1% of what they said in the PR. and the price crashed again. Just be careful is all I'm saying.
P.S. I have shares of this from .14 I think, so I certainly want it to go up, but I don't want it to go up at the expense of others.
quote:Originally posted by Hold-em-er-fold-em: burnt by what? clarify please!!
That is what happens whem people invest in these POS.... Daytrading ... gotr it at .06 out at .085
and if it rebounds good i will try to flip it again......
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
| IP: Logged |
posted
Bump, maybe all the new thread starters can bring this one up to date
-------------------- Be Careful Of The Toes We Step On Today, They Could Be Attached To The Butt We Have To Kiss Tomorrow Posts: 4727 | From: Elk Grove ( Sacramento )CA USA | Registered: Jun 2004
| IP: Logged |
posted
The coment "I dont want it to go up at the expence of others" does not make since... if the stock goes up.... everyone wins??? I want the price to go up so everyone wins! Im Confused
Posts: 1101 | From: Georgia | Registered: Apr 2006
| IP: Logged |
posted
I brought it up on a new thread because 7 months since the last post I would consider dead.
Either way after all the previous hype and the small pop, it's been sitting at .03 steadily for some time... Which is 1/3 of what it was on the beginning of that last pop...
It may be a good starting point.
Posts: 793 | Registered: Aug 2004
| IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
![[Smile]](smile.gif)
![[Wink]](wink.gif)
![[Big Grin]](biggrin.gif)
