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Pilgrim Petroleum Corp. (PGPM)

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Last Post: 5/25/2017 12:14:35 PM - Followers: 480 - Board type: Free - Posts Today: 401

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
#35452  Sticky Note Got an email response from the company in WiscoDish 05/25/17 09:23:17 AM
#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
#35729   cnbc:Bad News,Oil falls below $50 legalizeMJ 05/25/17 12:21:41 PM
#35728   With all of the people harassing them? No pennypincher156 05/25/17 12:21:36 PM
#35727   You don't know that otcplayer 05/25/17 12:19:30 PM
#35726   It's going to take a while to get Chiron 05/25/17 12:17:44 PM
#35725   Too strong here lol MMs and shorts trying Whogotdastocks 05/25/17 12:17:23 PM
#35724   THE OTC GROUP NEED TO LOAD THIS BABY MeLotsOfMoney 05/25/17 12:16:08 PM
#35723   At their pace I think they must have masterclassic 05/25/17 12:14:34 PM
#35722   congratulations, you are helping them walk this down... seandy 05/25/17 12:14:21 PM
#35721   They are getting people to panic... Same story... silkyballer 05/25/17 12:13:59 PM
#35720   Keep up the buying on the ask, they PenniesGoneWild 05/25/17 12:13:32 PM
#35719   pgpm is no pump ite the real deal Smittytnt 05/25/17 12:13:12 PM
#35718   Me, Me, Me.............anyone else have any to offer?? Iluvbbs 05/25/17 12:11:44 PM
#35717   patience here... hoping we can get a PR nkarczewski 05/25/17 12:10:41 PM
#35716   Last I heard they (OTC Markets) were understaffed SRV1975 05/25/17 12:09:43 PM
#35715   it's clear the company has done their part. jeff122670 05/25/17 12:08:44 PM
#35714   Looking good here! We get some updates or SRV1975 05/25/17 12:06:22 PM
#35713   Let the peanuts out!!!! silkyballer 05/25/17 12:02:22 PM
#35712   This year we expect will bring transformative changes Punisherzx 05/25/17 12:00:51 PM
#35711   Agreed! No worries here! Santes8 05/25/17 11:58:33 AM
#35710   We're here......just reading and laughing so hard at Iluvbbs 05/25/17 11:57:26 AM
#35709   Okiee dokiee Triple nickle 05/25/17 11:57:24 AM
#35708   Pump? A company that just filed 7 years Chiron 05/25/17 11:56:53 AM
#35707   This company is here to GROW SHAREHOLDER VALUE Punisherzx 05/25/17 11:55:52 AM
#35706   if selling off is green, then i would Jason978 05/25/17 11:54:51 AM
#35704   Pilgrim Petroleum Corporation Issue Letter to Shareholders Punisherzx 05/25/17 11:53:38 AM
#35702   I love this stock going to retire lol pgpm Smittytnt 05/25/17 11:52:08 AM
#35701   LOL gotta love the otc! -18% to +5% Santes8 05/25/17 11:50:23 AM
#35700   FROM IR TODAY.........You can always call the main brucebill 05/25/17 11:50:13 AM
#35699   ive been holding sincwe .0065 and hve added Smittytnt 05/25/17 11:49:38 AM
#35698   Yummy. Got some on that dip. pennypirate 05/25/17 11:49:29 AM
#35697   OTC.....T. +1 212.896.4400 brucebill 05/25/17 11:49:01 AM
#35696   Churn churn churn.... fly_fisherman 05/25/17 11:48:06 AM
#35695   PGPM .0109 x .0130 hysterical jjp2516 05/25/17 11:46:51 AM
#35694   Trading super thin. Uh, I will say Profit Prowler 05/25/17 11:46:34 AM
#35693   Agreed! .01279 X 1000 $12.79 not even beer$$money!!! beer$$money 05/25/17 11:46:24 AM
#35692   ........IR WANTS US TO CALL OTC AND brucebill 05/25/17 11:46:02 AM
#35691   wow .0109 time to go to the store Smittytnt 05/25/17 11:45:01 AM
#35690   I'm sure everyone knows. There are 900M shrs duratrader 05/25/17 11:44:50 AM
#35689   Yup we get current status , games will sorc92 05/25/17 11:44:05 AM
#35688   Low volume and just hit 10sma and 10ema. Heffaysurf 05/25/17 11:43:34 AM
#35687   While people may say things like this for xlogit3k 05/25/17 11:43:22 AM
#35686   .........PLEASE READ.........Just received a email from IR stating brucebill 05/25/17 11:43:17 AM
#35685   something to notice, every time PGPM has been Jason978 05/25/17 11:43:07 AM
#35684   That was one crazy dip and now look B7$4 05/25/17 11:42:48 AM
#35683   Amazing how thin $PGPM is FightingBack 05/25/17 11:42:30 AM
#35682   Anyone get some around 01? They skipped over Santes8 05/25/17 11:42:29 AM
#35681   that was weak. PGPM is strong . Lets droopyeyes 05/25/17 11:42:09 AM
#35680   Exactly. Not shaking my tree. I Profit Prowler 05/25/17 11:42:06 AM
#35679   $PGPM: Another awesome day of Dip-Loading makinezmoney 05/25/17 11:41:57 AM
#35678   experienced traders know it's BS. MMs trying to pennypincher156 05/25/17 11:41:15 AM