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Pilgrim Petroleum Corp. (PGPM)

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Last Post: 5/22/2017 11:33:36 AM - Followers: 455 - Board type: Free - Posts Today: 412

Contact Info
5057 Keller Springs Rd.
Suite 300
Addison, TX 75001
Phone: 972-655-9870
PGPM Security Details
Share Structure
Market Value1
a/o Apr 28, 2017
Authorized Shares
a/o Apr 27, 2017
Outstanding Shares
a/o Apr 27, 2017
Not Available
Not Available
Held at DTC
Not Available
a/o Apr 27, 2017
Par Value




Pilgrim Petroleum Corp. is a Texas based oil and gas exploration and development (E&D) company with domestic producing crude oil and natural gas properties. The company has positioned itself and its shareholders to take advantage of the supply needs in the energy sector by providing domestically produced resources. We currently hold crude oil and natural gas reserves with the majority of acreage in shallow formation fields for low cost exploration, drilling and production. The company's management and operational team have extensive oil and gas industry expertise as well as capital market experience. Our combined strengths allow the company to run at maximum efficiency while exploiting the full potential of our properties to maximize production.

Pilgrim acquired more than 100 wells in Archer, Wichita County, Northwest Texas, most of which had been shut-in in 2001 when the Railroad Commission of Texas changed the requirements for bonding operators in Texas. This has resulted in an exceptional program.

Currently, Pilgrim Petroleum is concentrating its efforts in the Lilly Hooks Field, where three Sand Zones are oil productive across the entire Field. The D Zone is the principal producer, with non-proven reserves of about 100,000 barrels per well. The A and B Zones have reserves of about 25,000 barrels each. Pilgrim owns more than 80 old wells in the area, currently being recompleted and it will be drilling new wells as soon as the recompletion program of all wells is achieved.

The Barnett Shale growth, one of the hottest domestic natural gas reserves, has been very impressive, from around 275 mmcfd in late 1999 to around 900 mmcfd today, it mostly comes from the areas of Denton, Tarrant and Wise counties.

The Barnett Shale formation in the Fort Worth Basin stretches over 5,000 square miles, and across 10 counties. At a depth of between 7,000 and 9,000 feet, the layered rock formation, which is unusually rich in raw materials, demonstrates strength of 400 to 900 feet and is the most productive gas field in all of the U.S.

Our (early-stage)estimations to calculate the Potential Oil Reserves underlining our properties in the Bend Arch-Fort Worth Basin Province are based on volumetric calculations. Based on approximately 12,000 acres of proven and unproven undeveloped fields, assuming 500 feet thickness of this play is oil pay and an average potential production of those fields, the potential volume of recoverable reserves were calculated. It is worth mentioning that the thickness chosen is required to accurately count net effective reservoir quality rock (e.g. sand) and it is also used to construct net pay isochore maps for volumetric reserve calculations.


Investor Relations contact

American Capital Investment LLC
Edward Monet
phone 619-864-0166
fax 619-269-6496

Telephone______ 214-687-0015 
Fax____________ 214-687-0019 


State of Incorporation: DE
Year of Incorporation: 1998

Rafael Pinedo, Chairman / E-Mail :

Matt O'Bryant, President & COO

Stephen Richardson, VP

Dan Foster, CTO
Michael Brown, Counsel

Formerly BNP Petroleum Corp.*
until 7-05 (*Pilgrim Petroleum is not affiliated, nor has been affiliated with
 BNP Petroleum, Corp. based on Corpus Christi and Houston, Texas)

 Transfer Agent

Securities Transfer Corp.
2591 Dallas Pky.
Suite 102
Frisco, TX 75034


Gustavson Report

September 28, 2006 

September 28, 2006 

Mr. Raphael Pinedo

President and CEO

Pilgrim Petroleum Corporation

3050 Regent Blvd. Suite 170

Irving, TX 75063

Re: Future Net Revenue Forecast

Prospective Resources

Pilgrim Petroleum Corporation

Archer & Wichita Counties, Texas

Dear Mr. Pinedo:

This letter report contains an estimate of future net revenues and net present value discounted at 10 percent for the prospective resources characterized in the National Instrument 51-101 report prepared by Gustavson Associates, LLC for Pilgrim Petroleum Corporation effective September 15, 2006. These estimates are based on the "best estimate" prospective resources.

As per the Canadian Oil and Gas Evaluation (COGE) Handbook definitions, the subject resources are categorized as Undiscovered Resources, and further sub-categorized as Prospective Resources.

The geologic risk of discovering these resources has not been incorporated in the future net revenue forecast.

The estimates herein do not represent fair market value.

The estimates herein are before deductions of income tax.

The estimates herein do include deductions for estimated future well abandonment costs.

Production forecasts used in these estimates were based on publicly available data on Chappel pinnacle reefs in the Bend Arch-Fort Worth Basin area. The data were only partially complete, and some interpolation was necessary to generate production forecasts. The forecasts are considered to be reasonable.

The following are the estimated future net revenues (before deductions of income taxes) attributed to undiscovered resources, estimated using forecast prices and costs and calculated using a discount rate of 10 percent:

Estimated Future Net Revenues (before income taxes) = $102,370,000

Net Present Value of Future Net Revenues (10% discount rate) = $52,050,000

Attached is a detailed production and revenue forecast.

Respectfully submitted,

Letha C. Lencioni

Chief Reservoir Engineer



Future Net Revenues Forecast, Prospective Resources, Pilgrim Petroleum Corporation

MISSISSIPPIAN CHAPPEL PINNACLE REEF PROSPECTDATE: 09/28/06BEND ARCH-FORT WORTH BASIN TIME: 10:09RESOURCE DEVELOPMENT POTENTIAL CASHFLOWSFILE: WORKTO PILGRIM PETROLEUM CORP. INTERESTSP R O D U C T I O N A N D E C O N O M I C SAS OF September 15, 2006 WELLHEAD--PRICES-----------OPERATIONS, M$--------10.00 PCT-END-EVALUATED INTEREST---GROSS PRODUCTION-------NET PRODUCTION----OILGASNET OPERSEV+ADVNET OPERCAPITALCASH FLOWCUM. DISCMO-YRWORKINGNETOIL, MBBLGAS, MMCFOIL, MBBLGAS, MMCF$/B$/MREVENUESTAXESEXPENSESCOSTS, M$BTAX, M$BTAX, M$-------------------------------------------------------------------------------------------------------------------------------12-06100.00%76.40%0.0000.0000.0000.00059.954.970.0000.0000.0000.0000.0000.00012-07100.00%76.40%29.659128.46622.65998.14864.836.702,126.230138.13048.7045,561.700-3,622.305-3,358.86912-08100.00%76.40%207.674959.343158.663732.93870.376.8516,189.5831,052.307416.7967,161.4627,559.0193,013.20512-09100.00%76.40%239.783681.326183.194520.53370.926.6716,462.6431,022.564543.7700.00014,896.30914,428.87512-10100.00%76.40%207.417495.778158.467378.77468.326.2213,182.599806.548554.6380.00011,821.41322,664.55412-11100.00%76.40%179.421405.189137.077309.56567.916.1311,205.819682.549565.7230.0009,957.54628,971.07312-12100.00%76.40%155.203348.996118.575266.63368.206.289,762.213595.272577.0610.0008,589.88033,916.81812-13100.00%76.40%134.254309.906102.570236.76868.496.448,550.585523.062588.5950.0007,438.92837,810.51712-14100.00%76.40%116.133280.76888.725214.50768.796.607,519.727462.179600.3580.0006,457.19040,883.09512-15100.00%76.40%100.457258.01376.749197.12269.096.776,636.365410.323612.3570.0005,613.68543,311.46312-16100.00%76.40%86.898239.63366.390183.07969.386.945,876.229365.893624.6300.0004,885.70645,232.79012-17100.00%76.40%75.169224.40457.429171.44469.687.115,220.418327.681637.1140.0004,255.62346,754.19412-18100.00%76.40%65.022211.53049.677161.60969.987.284,653.649294.738649.8470.0003,709.06447,959.65412-19100.00%76.40%56.246200.47042.972153.15970.297.464,163.271266.288662.8350.0003,234.14848,915.21012-20100.00%76.40%48.654190.84137.172145.80270.597.653,738.664241.692676.1190.0002,820.85349,672.88612-21100.00%76.40%42.087182.36432.154139.32670.897.833,370.825220.413689.6320.0002,460.78050,273.76012-22100.00%76.40%36.406174.83027.814133.57071.208.023,052.073201.995703.4150.0002,146.66350,750.28012-23100.00%76.40%31.492168.07924.060128.41371.518.222,775.829186.052717.4740.0001,872.30351,128.11412-24100.00%76.40%17.618161.98713.460123.75871.828.422,008.401142.682731.853600.000533.86651,226.055S TOT1,829.5905,778.3781,397.8074,414.68069.366.92127,525.6438,027.96210,836.92913,323.16295,337.58951,343.954REM.0.0001,535.4650.0001,173.09569.369.9811,706.274995.0333,228.627450.0007,032.613705.953TOTAL1,829.5907,313.8421,397.8075,587.775.367.57139,231.9179,022.99614,065.55713,773.162102,370.20352,049.907 CUM.00NET OIL REVENUES (M$)96,955.766---------PRESENT WORTH PROFILE---------NET GAS REVENUES (M$)42,276.150DISCPW OF NETDISCPW OF NETULT.1,829.5907,313.842TOTAL REVENUES (M$)139,231.917RATEBTAX, M$RATEBTAX, M$--------------------------BTAX RATE OF RETURN (PCT)>100%PROJECT LIFE (YEARS)310%102,370.20330%21,784.871BTAX PAYOUT (YEARS)1.48DISCOUNT RATE (PCT)102%87,256.89935%18,376.906BTAX PAYOUT (DISC, YEARS)1.53GROSS OIL WELLS84%75,461.00440%15,684.003BTAX NET INCOME/INVEST8.43GROSS GAS WELLS68%58,385.47645%13,515.609BTAX NET INCOME/INVEST (DISC)4.78GROSS WELLS1410%52,049.90750%11,741.85012%46,735.97560%9,038.31115%40,218.02770%7,101.54518%35,004.49480%5,666.91620%32,080.69690%4,575.70525%26,198.252100%3,727.625




Latest Press Release


Apr 27, 2017

                        Pilgrim Petroleum Corporation Announces Plans to file Disclosures on OTC Markets









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Current Price
Bid Ask Day's Range
#28599  Sticky Note $PGPM DD & Why I am buying More: Wishful Thinking 05/17/17 05:08:36 PM
#26392  Sticky Note Seeing 8 executives and 2 secretaries at PGPM penny2dollaz 05/16/17 08:36:29 AM
#23345  Sticky Note $PGPM email from IR $46M in assets from pennypincher156 05/11/17 12:38:57 PM
#19955  Sticky Note Pilgrim Petroleum PLC a private company and subsidiaries, Nadendla 04/28/17 09:51:22 AM
#32705   Can someone punch cdel in the face Rsarabjit 05/22/17 11:39:04 AM
#32704   Amazing mrcalifornia buddy...just imagine how much better June doogdilinger 05/22/17 11:39:01 AM
#32703   SERIOUSLY UNDERVALUED! Currently in price correction mode. Profit Prowler 05/22/17 11:38:56 AM
#32702   Yup but in for starter position with 30,000 xlogit3k 05/22/17 11:38:53 AM
#32701   Anymore suckers?? Lol Wishful Thinking 05/22/17 11:38:36 AM
#32700   Thanks...we have a great group of players assembling doogdilinger 05/22/17 11:38:26 AM
#32699   Nice to have this Other Playground besides DOLV,...PGPM duelittle2 05/22/17 11:38:20 AM
#32698   That's true. I am holding tight here. PGPM-- skichic 05/22/17 11:38:06 AM
#32697   Summer of our OTC lives on deck B7 doogdilinger 05/22/17 11:37:58 AM
#32696   Damn! Glad ibat least got in. Thanks for Rsarabjit 05/22/17 11:37:55 AM
#32695   No im holding, waiting for that lucky .50 it's Nottin stopin this 05/22/17 11:37:52 AM
#32694   Took a while to get in Chittalker 05/22/17 11:36:57 AM
#32693   $49million* Wishful Thinking 05/22/17 11:36:49 AM
#32692   With 39 million in assets this pps is Rsarabjit 05/22/17 11:36:33 AM
#32691   Hands stock on the OTC right now!!! Carjockey2 05/22/17 11:36:27 AM
#32690   Should have held, would be a $50,000 dump skichic 05/22/17 11:36:18 AM
#32689   Been in OW since last October and I zioni007 05/22/17 11:35:57 AM
#32688   PGPM going CURRENT on otcmarkets imminently, huge news gh0st 05/22/17 11:34:46 AM
#32687   Have a large position in DOL as well! xlogit3k 05/22/17 11:34:31 AM
#32686   Best stock I've seen on OTC in a silkyballer 05/22/17 11:33:36 AM
#32685   Nice. $PGPM DD is one of the FightingBack 05/22/17 11:33:11 AM
#32684   Weeeeeeeeeee what a ride Doog ! mrcalifornia 05/22/17 11:32:54 AM
#32683   This bad boy is primed and ready to explode!!! Nottin stopin this 05/22/17 11:32:37 AM
#32682   Thanks! Same to you! Lot's of potential here. easyme 05/22/17 11:32:34 AM
#32681   I agree doogdilinger! There is some heavy hitters B7$4 05/22/17 11:32:26 AM
#32680   AMEN to that brother, hahah Dr_Q 05/22/17 11:32:16 AM
#32679   Exactly, I road that one to .20 and skichic 05/22/17 11:31:13 AM
#32678   That's the exact pps I figure on PGPM Liquid1974 05/22/17 11:31:08 AM
#32677   Trying to grab a position here xlogit3k 05/22/17 11:30:11 AM
#32676   There's maybe a handful times only in traders doogdilinger 05/22/17 11:29:47 AM
#32675   Mr. PGPM tear down this wall.. Let's break 0.015!!! Macaveli 05/22/17 11:29:44 AM
#32674   WOW! That was a 20grand Shit I took! Best Nottin stopin this 05/22/17 11:29:05 AM
#32673   They are trying as hard as they can silkyballer 05/22/17 11:29:01 AM
#32672   Price per share/Math:($0.042)*(a multiple of 50 for OTC legalizeMJ 05/22/17 11:28:59 AM
#32671   Me too not as many shares but GO BeepBeepMF 05/22/17 11:28:53 AM
#32670   owcp ran from .005 to .05 in a gonzilee 05/22/17 11:28:49 AM
#32669   Whoa... A higher high that Friday... Going higher traders...PMPG Liquid1974 05/22/17 11:28:39 AM
#32668   So true:) skichic 05/22/17 11:28:32 AM
#32667   there was a 1.65M askhole lurking, likely just Murray 05/22/17 11:28:23 AM
#32666   Someone about to regret it though lol Alinswift 05/22/17 11:28:06 AM
#32665   Scottrade no issues as well Anvil6Delta 05/22/17 11:27:58 AM
#32664   This is perfect!!... A nice grind up!!... Couldn't silkyballer 05/22/17 11:27:54 AM
#32663   Welcome aboard easy and the absolute best of doogdilinger 05/22/17 11:27:46 AM
#32662   SilverLaundy Comethe...:-)...:-) duelittle2 05/22/17 11:27:45 AM
#32661   IMO never trade these stocks with anyone, but skichic 05/22/17 11:27:05 AM
#32660   Just bought 120K shares. I'm in! easyme 05/22/17 11:26:55 AM
#32659   Amazing ingredients have now formed B7...we may have doogdilinger 05/22/17 11:26:49 AM
#32658   Who just dumped support. There was over 2m Wishful Thinking 05/22/17 11:26:07 AM
#32657   Folks...i don't care what you do here, buy, Don Quixote 05/22/17 11:25:59 AM
#32656   Shares are getting eaten up here. Anyone selling HanisT 05/22/17 11:25:31 AM