posted
Pilgrim Petroleum Announces Buy Out Monday September 18, 12:10 pm ET
IRVING, Texas--(BUSINESS WIRE)--Oct 3, 2006--Pilgrim Petroleum Corporation, (Pink Sheets:PGPM - News) is pleased to announce that Exxon/Mobile has offered to buy the company for 100 bazillion dollars.
Due to the additional work related to the company's acquisition and scheduling issues, Pilgrim's staff is working to complete the acqusition paperwork and it will be released soon via Carrier Pigeon.
A Pilgrim Petroleum spokesman said, "I plan on retiring immediately and moving to a country that has no extradition agreements with the United States."
Posts: 632 | From: Midwest | Registered: Aug 2005
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quote:Originally posted by hbomb: Pilgrim Petroleum Announces Buy Out Monday September 18, 12:10 pm ET
IRVING, Texas--(BUSINESS WIRE)--Oct 3, 2006--Pilgrim Petroleum Corporation, (Pink Sheets:PGPM - News) is pleased to announce that Exxon/Mobile has offered to buy the company for 100 bazillion dollars.
Due to the additional work related to the company's acquisition and scheduling issues, Pilgrim's staff is working to complete the acqusition paperwork and it will be released soon via Carrier Pigeon.
A Pilgrim Petroleum spokesman said, "I plan on retiring immediately and moving to a country that has no extradition agreements with the United States."
quote:Originally posted by hbomb: Pilgrim Petroleum Announces Buy Out Monday September 18, 12:10 pm ET
IRVING, Texas--(BUSINESS WIRE)--Oct 3, 2006--Pilgrim Petroleum Corporation, (Pink Sheets:PGPM - News) is pleased to announce that Exxon/Mobile has offered to buy the company for 100 bazillion dollars.
Due to the additional work related to the company's acquisition and scheduling issues, Pilgrim's staff is working to complete the acqusition paperwork and it will be released soon via Carrier Pigeon.
A Pilgrim Petroleum spokesman said, "I plan on retiring immediately and moving to a country that has no extradition agreements with the United States."
NICE LOL
-------------------- 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
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quote:Originally posted by hbomb: Pilgrim Petroleum Announces Buy Out Monday September 18, 12:10 pm ET
IRVING, Texas--(BUSINESS WIRE)--Oct 3, 2006--Pilgrim Petroleum Corporation, (Pink Sheets:PGPM - News) is pleased to announce that Exxon/Mobile has offered to buy the company for 100 bazillion dollars.
Due to the additional work related to the company's acquisition and scheduling issues, Pilgrim's staff is working to complete the acqusition paperwork and it will be released soon via Carrier Pigeon.
A Pilgrim Petroleum spokesman said, "I plan on retiring immediately and moving to a country that has no extradition agreements with the United States."
posted
Yeh,but,be interesting to see what they come up with next.lol Another billion barrels,under Pinedos desk? heh. Fat lady has sung.oooowwwwwoooooooo!!!!!!
-------------------- It takes a lot of attaboys to make up for an aww chit Posts: 483 | From: OK | Registered: Aug 2005
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posted
not sure if the fat lady had finished the course yet.
Still have te deliver the evaluation on the 14.7K achers. Seems like that will be it. The report we saw said almost the same thing as the one releaese in may. Although more in depth, it revealed more gas. Price shot up last week on a BS Estimated PPS PR.
-------------------- "Money, so they say Is the root of all evil today." Posts: 228 | From: NE, PA | Registered: Mar 2006
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posted
Yep,the "our stock is worth" PRs are a joke.Go back and look at their PRs and simple math is not their long suite.....or is it. They always try to use the whole reserve estimate for "their" leases. heh. They have a 20% interest. Income up XX% or production up XX%....compared to what? No figures.A micro micr oil company. wwoofff!!
-------------------- It takes a lot of attaboys to make up for an aww chit Posts: 483 | From: OK | Registered: Aug 2005
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posted
General Energy Corporation Announces Strategic Alliance Business Wire - October 31, 2006 07:30
DALLAS, Oct 31, 2006 (BUSINESS WIRE) -- General Energy Corporation, with offices in Dallas, Texas, and Montreal, Quebec, today announces a strategic alliance with Huizhou Engineering Co. Ltd and SEWAN Limited, both of China, to develop and manufacture land and offshore workover equipment and portable trailer drilling rigs. Both of these companies have successfully acquired contracts in Southeast Asia, China and England. The alliance will be named GHS Energy, with a main office in Montreal, and will be lead by managing director Rafael Pinedo. General Energy Corporation is a direct affiliate of Pilgrim Petroleum Corporation (Pink Sheets: PGPM), lead by President and Chief Executive Officer Rafael Pinedo. Effective immediately, GHS Energy will begin marketing services in Canada and in the United States early next year.
Mr. Pinedo said, "We are very pleased to have interest in such an outstanding joint venture with great value in cost of drilling, loss of production, manpower, safety and reliability."
About General Energy Corporation
General Energy Corporation is a privately held Delaware corporation with offices in Dallas, Texas, and Montreal, Quebec. The company is an oil & gas operator and oilfield machinery servicer, including drilling and workover operations.
About Pilgrim Petroleum Corporation.
Pilgrim Petroleum (Pink Sheets:PGPM) Corporation is an independent oil and gas company based in Irving, Texas. The company acquires oil and gas leases, producing properties, mineral rights and surface interests primarily 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.
Ol' Raff is Managing Director. heh. I suspected that was where Pigrims "acquisitions" came from, GEC. Worn out depleted leases,so spin them off and pump them to investors. And now,China-built rigs? Why? Their stuff is crap. Low quality copies of our rigs. Even the steel is suspect. They've tried to sell them here, but,no takers. Ol' Raf was supposedly getting some rigs from China early last year. Going to start drilling wells on "his" leases. Never happened. They havent drilled well one. So,we know GEC is the majority partner, Pilgrim minority, and they obviously have no intention of drilling any targets that the Gustavson report suggested.Pinedo sits on both companies and now a new one. Interesting.What happened to the workover company he bought? Absorbed into GEC? Curiouser and curiouser.
-------------------- It takes a lot of attaboys to make up for an aww chit Posts: 483 | From: OK | Registered: Aug 2005
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posted
Mr. Pinedo said, "We are very pleased to have interest in such an outstanding joint venture with great value in cost of drilling, loss of production, manpower, safety and reliability."
I love that "loss of production". Their good at that,so will help you loose yours,too!!!
-------------------- It takes a lot of attaboys to make up for an aww chit Posts: 483 | From: OK | Registered: Aug 2005
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posted
no time limit for the repurchase program, can cancel it at anytime without notice, repurchased shares may be sold again to meet finance needs of the company. = waste of a PR IMO!!
Posts: 2503 | From: connecticut | Registered: Mar 2005
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posted
GOING, GOING, GONE.............. CHARGE IT TO THE GROUND AND LET THE RAIN SETTLE IT BABY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Posts: 52 | From: illinois | Registered: Nov 2006
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posted
Looks like they are at it again!! Since when did PGPM become worth 52 million? General Energy Corp was the source of the 12,500 acres of depleted leases PGPM "acquired". PGPM only had a 20% working interest. So, is General Energy "buying" leases they already own? Or 80% of PGPMs 20%? And....what stock are they using? GEC is not a public traded company as far as I can determine. Pinedo is on the board of GEC. IMHO PGPM is the publicly traded "face" of GEC. The whole thing smells, as usual! wwwoooofffff!!!
-------------------- It takes a lot of attaboys to make up for an aww chit Posts: 483 | From: OK | Registered: Aug 2005
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posted
52mil came from the low est. on the gust. evaluation report. Low estimate to what it was potentially worth. & it seems like they turned it into cash.
Edit: I see, didnt read it correctly, PGPM will get $42m cash plus stock.. hmmm
The working interest stuff is unclear. PR says it's "owned" by pgpm. Maybe they purchased the land since we heard about it last.
If they get the 42mil. Thats gonna make the 1st quarter financial report look pretty damn good.
-------------------- "Money, so they say Is the root of all evil today." Posts: 228 | From: NE, PA | Registered: Mar 2006
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posted
Yep. It might go. But,they keep the spread large. Bid doesnt move much at all. They're more interested in selling shares, as usual. And... producing bs pr's. It's on the Frankfurt Exchange, new suckers, and can be legally shorted.
-------------------- It takes a lot of attaboys to make up for an aww chit Posts: 483 | From: OK | Registered: Aug 2005
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posted
Mark These Words "This One Is Headed For .12" They are finally getting the news releases put together corectly.... Mark It HERE!!!! Then I will sell and get my $$$$ Back :}
Posts: 1101 | From: Georgia | Registered: Apr 2006
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