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Pilgrim Petroleum Corp. (PGPM)

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Last Post: 5/24/2017 2:09:20 AM - Followers: 478 - Board type: Free - Posts Today: 23

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
#34232  Sticky Note IR EMAIL CONFIRMING FILINGS ARE DONE; CURRENT SOON pennypincher156 05/23/17 02:40:07 PM
#34215  Sticky Note $PGPM "MASTER LIMITIED PARTNERSHIPS" which is very gh0st 05/23/17 02:21:07 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
#34525   Skull and crossbones removed means 100% gains. Remember dig4gold 05/24/17 02:09:20 AM
#34523   Here it is stickied at the top. General Grievous 05/24/17 01:52:29 AM
#34522   Exactly! That's why there's been zero dilution so dig4gold 05/24/17 01:50:52 AM
#34521   I was thinking about it and i have seandy 05/24/17 01:47:30 AM
#34520   I agree. That's why I said guaranteed. I dig4gold 05/24/17 01:44:24 AM
#34519   300% seems a bit low to me lol seandy 05/24/17 01:41:31 AM
#34518   Yes I have that many and I want dig4gold 05/24/17 01:38:32 AM
#34517   You guys didn't see the screen shot email General Grievous 05/24/17 01:38:07 AM
#34516   wow! how many shares do you have? seandy 05/24/17 01:29:49 AM
#34515   Smart! I will keep averaging up until I dig4gold 05/24/17 01:28:14 AM
#34514   I added 300k @.0014 holding pgpm long$$$$$ Smittytnt 05/24/17 01:11:46 AM
#34513   I will load up even more tomorrow. Watch dig4gold 05/24/17 01:05:09 AM
#34512   Someone loaded the shit out of this today pennypincher156 05/24/17 12:55:09 AM
#34511   BULLS IN FULL CONTROL Chittalker 05/24/17 12:54:14 AM
#34510   Lots of money came in .014+ .. lots Wishful Thinking 05/24/17 12:52:39 AM
#34509   They certainly have a lot more assets:) skichic 05/24/17 12:37:26 AM
#34508   Another bullish chart from Clay:) skichic 05/24/17 12:30:17 AM
#34507   You definitely can tell there's something special about Don Quixote 05/24/17 12:19:05 AM
#34506   Yes, but non-marginal's need 3 day clear of Benjamin_F 05/24/17 12:17:10 AM
#34505   %100 agree. Was in that one from .003 GlobalTrader_OTC 05/24/17 12:07:58 AM
#34504   Lets assume we get the 30 days above seandy 05/24/17 12:03:56 AM
#34503   Agreed! I was in owc$ at ·05 pennylandspirit 05/24/17 12:00:04 AM
#34502   PGPM= ZERO dilution because ZERO convertible debt... legalizeMJ 05/23/17 11:59:22 PM
#34501   PGPM=$0.75 per share in a hurry when Skull&Crossbones legalizeMJ 05/23/17 11:58:05 PM
#34500   ======EMAIL,EMAIL, EMAIL====== legalizeMJ 05/23/17 11:56:43 PM
#34499   PGPM ASSETS is now HIGHER than $48,899,863 because legalizeMJ 05/23/17 11:55:27 PM
#34498   Otc numnutz hold for .05 and make some Wishful Thinking 05/23/17 11:54:13 PM
#34497   yes but your money has to be deposited seandy 05/23/17 11:53:28 PM
#34496   Oil is now above $51./barrel.We could be looking legalizeMJ 05/23/17 11:51:16 PM
#34495   Held up nice for all the sell volume smyork 05/23/17 11:50:51 PM
#34494   I did too Perk71 05/23/17 11:23:44 PM
#34493   Generally speaking there are traders at every level big green tractor 05/23/17 11:01:07 PM
#34492   * * $PGPM Video Chart 05-23-17 * * ClayTrader 05/23/17 10:57:00 PM
#34491   Silver coming next week imo. This is trading Whogotdastocks 05/23/17 10:48:49 PM
#34490   I know ,it's obvious that PGPM is a brucebill 05/23/17 10:48:48 PM
#34489   No Whogotdastocks 05/23/17 10:47:34 PM
#34488   I'm looking at .10-.25 gh0st 05/23/17 10:43:44 PM
#34487   Is the ask really 26 cents? Chupacabros 05/23/17 10:38:12 PM
#34486   Nice update. It's coming, just a matter of time WiscoDish 05/23/17 10:36:47 PM
#34485   Lol silkyballer 05/23/17 10:29:26 PM
#34484   Let's do it buddy!.. Lock em up!! silkyballer 05/23/17 10:29:18 PM
#34483   Should be at least $0.10 now xyz1002 05/23/17 10:29:01 PM
#34482   You and me both silkyballer 05/23/17 10:28:55 PM
#34481   You would know stoopid wouldn't u General Grievous 05/23/17 10:25:40 PM
#34480   im here for the long run. because silver GAINSDAY 05/23/17 10:22:14 PM
#34479   Comparing PGPM to OWC! is just stoopid CRAZY $$$$$$$ 05/23/17 10:20:13 PM
#34478   Heck, I wanna see that quarter that was Swampdude 05/23/17 10:18:04 PM
#34477   their is also a stage 3 incase u GAINSDAY 05/23/17 10:17:29 PM
#34476   Yup I did Chupacabros 05/23/17 10:15:02 PM
#34475   Is anyone buy shares through tdamertrade c97 05/23/17 10:13:07 PM