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Pilgrim Petroleum Corp. (PGPM)

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Last Post: 6/25/2017 11:34:10 PM - Followers: 585 - Board type: Free - Posts Today: 0

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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PGPM News: Small Company Offering and Sale of Securities Without Registration (d) 05/31/2017 12:17:34 PM
#52681  Sticky Note 6/19/17 NEWS... Pilgrim Petroleum Corporation Approves Stock Repurchase SRV1975 06/20/17 05:10:56 AM
#45619  Sticky Note Pilgrim Petroleum Corporation Receives Commitment of $3.0 Million kontente 06/08/17 01:09:24 PM
#39437  Sticky Note 3 MILLION DOLLARS GIVEN TO PGPM BY A gh0st 05/31/17 12:35:52 PM
#55378   Push to a penny this week, the GFR Chartmaster 06/25/17 11:34:10 PM
#55376   Just looked back and dheminger already mentioned last penn_e_pincher 06/25/17 09:54:34 PM
#55375   Look to flip the par sar this week... $&$@PGPM Liquid1974 06/25/17 09:48:53 PM
#55374   Pgpm Baby !!! Punisherzx 06/25/17 09:42:48 PM
#55373   Same old same I was hoping for some Tutu 06/25/17 09:36:44 PM
#55372   Good catch is right! Now why would the head22 06/25/17 09:34:15 PM
#55371   You must be new this is the second Tutu 06/25/17 09:32:33 PM
#55370   Oh, wow. The date of verification is on penn_e_pincher 06/25/17 09:25:43 PM
#55369 THIS IS HUGE!!! Penny God 06/25/17 09:16:31 PM
#55368   Lol thanks for the PM and I been in Tutu 06/25/17 09:04:04 PM
#55367   More news and the pps didn't react Try again Tutu 06/25/17 09:03:26 PM
#55366   Old news stock didn't get react Try again Tutu 06/25/17 09:02:49 PM
#55365   Do what you have to do. Only you penn_e_pincher 06/25/17 09:02:48 PM
#55364   Hahahahahaha time to rock!! Punisherzx 06/25/17 08:50:06 PM
#55363   Hell don't think about it do it .. Punisherzx 06/25/17 08:48:05 PM
#55361   Pilgrim Petroleum Corporation Approves Stock Repurchase and Retirement Punisherzx 06/25/17 08:44:45 PM
#55360   Well for starters based on things like this Punisherzx 06/25/17 08:43:13 PM
#55359   Based on what Tutu 06/25/17 08:40:32 PM
#55358   That is huge, gonna be a crazy week! trobin38 06/25/17 08:34:26 PM
#55355   Yep. But I do have a good CEOs 06/25/17 04:34:52 PM
#55354   We will... I just like the entertainment in silkyballer 06/25/17 04:19:56 PM
#55353   I dropped in again to read some more CEOs 06/25/17 02:29:10 PM
#55350   Oldest trick in the penny book except for The Rainmaker 06/25/17 02:14:52 PM
#55349   Lol.... Most likely true silkyballer 06/25/17 02:11:12 PM
#55348   We will make him bomb out lower than silkyballer 06/25/17 02:10:55 PM
#55347   So you dont have to worry about your junejunju 06/25/17 02:05:31 PM
#55346   This stock is already up 5400% this year luckyb-st-rd 06/25/17 01:58:47 PM
#55345   I want your shares . Let us know luckyb-st-rd 06/25/17 01:57:34 PM
#55344   That s easy... 2.5 million pretend shares. 0 really own shares The Rainmaker 06/25/17 01:55:42 PM
#55343   So its 2.5M. Anybody wants 2.5M at .0060! junejunju 06/25/17 01:50:05 PM
#55342   How many millions are we talking about? junejunju 06/25/17 01:47:56 PM
#55341   Will be happy to sell at .0060, that's 4keywest 06/25/17 01:42:28 PM
#55340   Good morning PGPM... #WILLTAKEALLYOURSHARES Carjockey2 06/25/17 01:28:27 PM
#55339   Where do you think this is heading to Bradshmj10 06/25/17 01:26:50 PM
#55338   I will be glad to take them off GlobalTrader_OTC 06/25/17 01:18:48 PM
#55337   D STATUS is waiting for that too!!! junejunju 06/25/17 01:09:17 PM
#55335   Thinking of dumping my millions of shares soon. 4keywest 06/25/17 01:05:14 PM
#55334   Also, look for the par sar break on Liquid1974 06/25/17 12:27:23 PM
#55332   Those are old. We don't know who alabama96 06/25/17 12:17:15 PM
#55330   "The company is acquiring oil and gas leases, alabama96 06/25/17 11:59:47 AM
#55328 jessejames001 06/25/17 11:48:09 AM
#55327   Yes.....My account is growing randy218 06/25/17 11:26:57 AM
#55326   Read all the documents about the PGPM operator crowin 06/25/17 10:56:26 AM
#55325   Do Some quick research on the TRRC web crowin 06/25/17 10:50:44 AM
#55323   Looks busy this week end for PGPM at CEOs 06/25/17 10:16:13 AM
#55322   Russia, Raffy and Rex, Only at pepeoil 06/25/17 09:58:03 AM
#55321   I love it, I have been asking for pepeoil 06/25/17 09:47:30 AM
#55320   Getting closer. Tagprofenrir 06/25/17 09:45:42 AM
#55317   What producing wells? They had pepeoil 06/25/17 09:10:08 AM
#55316   Verified company profile 6/20/2017 GlobalTrader_OTC 06/25/17 08:58:16 AM