posted
purl gurl looks like you were right about this dog. some of those wells they bought probably have been out of production since jimmy carter was president. thanks for your posts.
-------------------- I'm from Missouri - Show Me! Posts: 950 | From: Middle of Nowhere, Missouri | Registered: May 2006
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Pilgrim Petroleum Announces Plans to Become a Fully Reporting Company Business Wire - May 10, 2006 13:40
IRVING, Texas, May 10, 2006 (BUSINESS WIRE) -- Pilgrim Petroleum Corporation (Pink Sheets:PGPM), an independent oil and gas company, announced today the Company has begun the process of interviewing SEC qualified legal and accounting firms in preparation of the Company filing a Form SB1 or 10SB with the SEC to become a fully reporting public company under the provisions of Section 12(g) of the Securities and Exchange Act of 1934, as amended and or the filing of Form 211 with NASD to be listed on the OTC:BB.
The hiring of a qualified SEC legal and accounting firm is a significant step for Pilgrim Petroleum Corporation stated Rafael Pinedo, Company President. "This is the first step of many to create corporate transparency and understanding for our shareholders. This will also provide a vehicle for our investors to access financial and operational information about the Company that will be available to the public on a regular reporting basis."
Mr. Pinedo said, "Pilgrim Petroleum Corporation is involved in several lucrative acquisitions and is headed in the right direction to increase its profitability and we want to share this information with investors on a more timely basis and it is our expectation that this move will enhance our corporate image and broaden investor awareness. In the meantime, the Company will continue to communicate to shareholders and investors via press releases and our website www.bpetroleum.com concerning the Company activities."
Posts: 93 | Registered: Jan 2006
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posted
PGPM on a breakout. Charts look good to .20+ if volume keeps up.
-------------------- Only true value stocks are worth holding. Research is the key! Posts: 27 | From: Cincinnati, Ohio | Registered: May 2006
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posted
The volume is definitely there. Looks like PGPM chart can support a run to .23 or .24 before pullback.
-------------------- Only true value stocks are worth holding. Research is the key! Posts: 27 | From: Cincinnati, Ohio | Registered: May 2006
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posted
Today is a little bouncing between 0.13 and 0.14. Put an order at 0.135. Took quite a while to get through. Seems holding really well. Volume was bigger and bigger, especially yesterday. Still need good PR to get the attention.
Posts: 221 | From: kentucky | Registered: Apr 2006
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posted
Is it just me or anyone whose account showed PGPM was down to 0.014? what the hell is going on? anybody knows?
Posts: 221 | From: kentucky | Registered: Apr 2006
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Pilgrim Petroleum Announces Corporate Update to Shareholders
IRVING, Texas, May 16, 2006 (BUSINESS WIRE) -- Pilgrim Petroleum has been receiving several calls and emails from shareholders that are inquiring as to the press release on May 1, 2006, related to our Potential of Recoverable Oil. Management would like to report: we hired a third party "Valuation Engineer Report." We feel this is a very important necessary step in the company affairs and our redevelopment in North West Texas. This will define a more sustainable valuation of our company. Pilgrim Petroleum is actively pursuing additional Barnett Shale drilling and reworking opportunities. It is anticipated that expanded and/or new joint ventures will be implemented over the next few months. This emphasis will contribute to the near-term goal to achieve production and more proven reserves. In addition, this strategy will complement the medium-term drilling plans on the land base currently held. Select Canadian Quebec shale gas projects are also under technical analysis and review. Knowledge and expertise held by Pilgrim Petroleum and its joint venture partners will be contributing factors in capturing emerging unconventional Canadian opportunities.
Rafael Pinedo, President of Pilgrim Petroleum Corporation, commented, "Each acquisition builds our natural energy reserve base for our shareholders. We will continue to acquire properties and bring our wells on line throughout 2006 in order to increase our residual revenue with no geopolitical risks."
Posts: 93 | Registered: Jan 2006
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posted
something caused a panic sell. PPS already dropped to 0.10 today. probably it is a good buy time although volume is not big. 0.10 is a hold. let us hope it holds there and wait for bounce up. if not, then maybe more panic sell could be triggered. this is sad
Posts: 221 | From: kentucky | Registered: Apr 2006
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posted
it is already break through 0.10. now it is down to 0.095. this is a really bad day.
Posts: 221 | From: kentucky | Registered: Apr 2006
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posted
another sad morning. went down to 0.07. loss to me already more than 40%. should have cut the loss yesterday. well, look at the bright side. holding. strong holding.
Posts: 221 | From: kentucky | Registered: Apr 2006
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IRVING, Texas, May 18, 2006 (BUSINESS WIRE) -- Pilgrim Petroleum (Pink Sheets:PGPM) is pleased to announce an exclusive contract with Basic Energy Services (NYSE:BAS). Basic Energy, headquartered in Midland, Texas, is the nation's third largest well servicing contractor providing well repair, workover and completion services.
Effective today, Basic Energy will be providing general services on approximately 20 to 60 wells on four of our more important leases (Hooks, Lockrige, Climax, Morgan) and the reactivation of the White Meldon lease. We would like to increase our current production with an additional up to 60 currently non-operated wells. This will create extraordinary revenue income, in addition to increasing our proven reserves in a short amount of time.
Rafael Pinedo, President and CEO of Pilgrim Petroleum Corporation, commented, "We are looking forward to working with Basic Services; they bring a solid reputation for quality service with good people and equipment."
Posts: 93 | Registered: Jan 2006
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IRVING, Texas--(BUSINESS WIRE)--May 19, 2006-- Pilgrim Petroleum (Pink Sheets:PGPM) is pleased to announce a contract with Gustavson Associates providing reserve evaluation estimates for Pilgrim Petroleum Corporation. Gustavson Associates has a 25-year track record of quality consulting to industry and governments worldwide. For more information, check www.gustavson.com. Gustavson will deliver an express opinion in the next few days about all our properties located in North Texas. This will define a more sustainable valuation of our company, an accurate target price for analysts and a very important step for our accounting audit required for our filing with SEC. It is anticipated that they will deliver the results of this opinion by the middle of next week.
About Pilgrim Petroleum Corporation.
Headquartered in Irving, Texas, Pilgrim Petroleum Corporation is a publicly traded company (Pink Sheets:PGPM). Pilgrim Petroleum Corporation is an independent oil and gas company. 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 redevelop each property to maximize the income from each property 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 effect 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.
KEYWORD: NORTH AMERICA TEXAS UNITED STATES INDUSTRY KEYWORD: ENERGY OIL/GAS NATURAL RESOURCES PROFESSIONAL SERVICES ACCOUNTING CONSULTING CONTRACT/AGREEMENT SOURCE: Pilgrim Petroleum Corporation
CONTACT INFORMATION: Pilgrim Petroleum Corporation, Irving Eddie Monet, 619-864-0166 www.apetroleum.comPosts: 199 | From: beach, sc | Registered: Mar 2006
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IRVING, Texas, May 26, 2006 (BUSINESS WIRE) -- Pilgrim Petroleum Corporation (Pink Sheets:PGPM) announced today the most recent acquisition of leases for its current asset portfolio located in Wichita County Texas. It includes: Waggoner, W.T. EST. "B" Lease with a cumulative of 162,599 BO, Waggoner "AN" Lease with a cumulative oil of 15,949 BO; Patton Lease with a cumulative 17,544 BO and 1 MMCF, Burnett "EE" with a cumulative of 53,141 BO. They constitute approximately 30 wells in a marginal production area and include processing equipment, acreage and existing production of approximately 25 bpd to 45 bpd. Pilgrim Petroleum will focus on a development strategy for the most promising lease properties and the reactivation of additional wells. Pilgrim Petroleum Corporation CEO Rafael Pinedo said, "We are sure these acquisitions will add up a good contribution in our stream of revenues and in our asset portfolio. Pilgrim Petroleum is committed to growth and taking the necessary steps to value creation and long-term sustainability."
In addition Pilgrim Petroleum will release early next week the results of the Gustavson report along with details of the upcoming events associated with this important step.
Posts: 5 | Registered: May 2006
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posted
I do like the way the charts look for this stock. Too bad it didn't hold the high for the day but .141 is not bad. I think those who didn't buy at .15 today may have missed the boat. Hopefully news tomorrow!!! If not it gives everyone another chance to buy. I just don't understand the lack of interest in this.
Posts: 5 | Registered: May 2006
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posted
It has been tracking up. Most are probably awaiting the asset report due out his week. Maybe it will confirm that they are an undervalued company and we will revisit those highs...
Posts: 93 | Registered: Jan 2006
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IRVING, Texas--(BUSINESS WIRE)--May 31, 2006-- Pilgrim Petroleum Corporation (Pink Sheets:PGPM) announced today results and explanation of Gustavson preliminary resource report, in addition to future plans to further valuate our properties. Pilgrim Petroleum's initial estimation of potential resources was based on an early or "pre-development" stage, in which estimates are restricted to volumetric calculations under predeterministic methods. According to Gustavson, Pilgrim Petroleum's portfolio of properties presents a high probability of drilling success, namely about 2 out of 3 exploratory wells are likely to discover oil or gas in amounts of 1 million barrels of oil or the equivalent in gas (4-6 BCF). Therefore, it is most likely that 4 fields (3 drilling targets on two land positions at 2/3 success) will be found. The P50 resource estimate is therefore 4 million barrels of oil equivalent. They also provided a rough estimate of approximately $10 million for the exploration/drilling campaign, through seismic, drilling and completion towards finding 4 million BOE with a market value of about $40 million. Gustavson`s preliminary report, is available at our website: www.apetroleum.com. Rafael Pinedo, CEO of Pilgrim Petroleum Corporation, commented, "Our next step is to start an economic evaluation under SEC rules, and immediately bring those values to our financial statements for the second quarter 2006, while we continue more selective acquisitions and partnerships, the value of the company is our highest priority. Pilgrim has a bright horizon. We plan to continue working with Gustavson Associates for future prospect domestic and international acquisition assessments."
Posts: 199 | From: beach, sc | Registered: Mar 2006
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posted
Pilgrim Petroleum Corporation Announced Today an Explanation of the Previous May 1st Press Release Business Wire - June 01, 2006 09:21
IRVING, Texas, Jun 01, 2006 (BUSINESS WIRE) -- Pilgrim Petroleum Corporation (Pink Sheets:PGPM) announced today an explanation of the previous May 1st Press Release. After thorough research, Potential Oil Resources calculations without taking some factors like porosity, etc., into account can produce high estimate reserves due to inconsistencies in the volumetric calculations. Further definition between the methods used requires determining factors with inherent uncertainties by themselves and even more when they are combined. As commented SCA Geologic (2003), "over the past 25 years significant errors haven been present in reserve calculations as a result of using the wrong thickness value to determine the reservoir quality sand or to prepare net pay maps for volumetric calculations. Errors of 20 to 30 percent are not uncommon, but on occasion errors of up to 700 percent have been documented." Under this premise Pilgrim Petroleum decided to obtain a 3rd party opinion as a part of the pre-valuation stage in order to make wise capital outlays. Before anything, the company needs measures with less uncertain methodology. Gustavson preliminary report provides a reviewed, more thorough and conservative identification of the company's current assets value and resource estimates. This report did not cover our latest acquisition of production and acreage from last week or other acquisitions to be closed in a week. Neither report will include any marginal existing production or take into consideration a significant amount of processing equipment already in place. After all the complete report from Gustavson will be done in weeks, we are confident that this final number of Potential Resources will be significantly higher.
Rafael Pinedo, CEO of Pilgrim Petroleum Corporation, commented, "Lessons Learned. As we grow, we exponentially encounter challenges that we need to offset through accurate operational management. Our commitment to the company and our shareholders is our driving force, we are very confident on the final results."
About Pilgrim Petroleum Corporation
Headquartered in Irving, Texas, Pilgrim Petroleum Corporation is an independent oil and gas company. 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 redevelop each property to maximize the income from each property 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 effect 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.
posted
Pilgrim Petroleum Announces Update in Operations Business Wire - August 31, 2006 11:33
IRVING, Texas, Aug 31, 2006 (BUSINESS WIRE) -- Pilgrim Petroleum Corporation, (Pink Sheets:PGPM) announces that the company has achieved a new record in production for the month of August, an increase of over 15% from the previous month with an additional eight re-activated wells in line. This constant increase in production leads Pilgrim to anticipate exponentially better results for the next coming month. Furthermore, new acquisitions talks and negotiations are in progress, while the evaluation of the company's properties is completed. Gustavson Associates informed that the report could be expected by next week, with the final and formal report expected by the week of September 11th. This delay is due to the last acquisition. Lastly, the addition of General Energy Corporation as operator, and the potential value of new exploration participation in Quebeq Canada are two additional highlights.
Pilgrim Petroleum Corporation Vice President of Operations Jeffrey Fanning said, "The Reactivation Program has undoubtedly boosted the company's production levels and we will continue to re-activate the remaining properties, while Pilgrim further grows its asset portfolio."
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 effect 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.
SOURCE: Pilgrim Petroleum Corporation
Pilgrim Petroleum Corporation, Dallas Eddie Monet, 619-864-0166 emonet*americancapitalipo.com www.apetroleum.com
Copyright Business Wire 2006
-------------------- "Great Day for Up!"....Dr. Seuss Posts: 3387 | Registered: Mar 2006
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