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.31 cents per share, Weeeeeeeeeeeeeeeeeeeee!!!
Press Release Source: Pilgrim Petroleum Corporation
Pilgrim Petroleum Announces Projected EPS for 2008
Monday May 12, 7:45 am ET
DALLAS, TX--(MARKET WIRE)--May 12, 2008 -- Pilgrim Petroleum Corporation (Other OTC:PGPM.PK - News) (Frankfurt:PHV.F - News) announced today the company's year 2008 projected EPS (Net Earnings / Outstanding Shares) $50,000,000/844,236,923 of 0.06. Based on this EPS multiplied by a sustainable growth rate of 25% and multiplied by the average industry P/E ratio of 20.96 (Reuters), Pilgrim's intrinsic value or estimated stock value should be $0.3103.
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Pilgrim Petroleum's prime properties are mainly located in the North West Texas, owning approximately 12,000 acre properties, which hosts resources with a best estimate P50 (*) of 4 millions of barrels of oil equivalent, definitions according to "Petroleum Classification and Definitions" (2000) published in draft by the Society of Petroleum Engineers (SPE) and World Petroleum Congress. The already on-going next phase is to strategize with its Partners and alliances for new drilling activities in its leasehold position for further categorization of reserves, including development and production status (proved, probable and possible).
Pilgrim Petroleum management is currently focused on developing multiple horizons with hydrocarbon potential and is proud to communicate that the company's combined assets are now producing in an upward trend and new acquisitions for further hydrocarbon development under consideration.
Rafael Pinedo, President of Pilgrim Petroleum Corporation, commented, "Triple digit oil prices and current market conditions make new ventures an open opportunity to develop our assets with great levels of profitability. Management is implementing streamlining operations activities as well as targeting new acquisitions and Joint Ventures."(*) When evaluating resources in particular contingent and prospective resources, Resources P50: Considered to be the best estimate of the quantity that will actually be recovered from the accumulation.(Source: Petroleum Society of CIM. Definitions of Oil and Gas Resources and Reserves)
I told you that you would be able to pick up sub.02's by friday. Will continue to monitor and pick up some mid .01's.
BTW, I am not bitching at all. I could care less about $2,000 bucks, it's an easy write off for me. I would rather take the capital loss only to see Ralph Pinedo publicly ridiculed and lose everything he has. I just hate giving up on this pig right now. The last time I gave up on a pig 3 months later I would have been retired. I certainly won't retire off of PGPM but will write off this waste once the company goes under. The only pleasure I get here is LMAO at Taco Charlie.
Stop worrying about a worthless dividend. We need the PPS to climb steadily not more worthless shares. My 25% dividend on 40,000 shares at .05 was 10,000 shares. They are worth 6 bucks. Now if the PPS was say at .01 they are worth 100 bucks. Oil is at an all time high and Ralph can't seem to punch his way out of a wet paper bag. The CEO is more worthless than my shares.
Good things from who??? The price of oil continues to head in one direction and Ralph is taking this company in the other direction. He needs to step aside or be fired.
Nice to see volume and interest building in this baby again. How can you resist at these levels.
I agree, hopefully Lee bought back at least half and are now in the process of being retired. I can't imagine those high volume days did not knock out at least half a bil.
and I will do it again tomorrow or wednesday. If Lee can't trade in the first hour or have the first trade of the day at least we can give him a hand.
That was me :)
Doug: Here is a re-post from what we are talking about.
I contacted the T/A a few weeks back and asked if they could provide any info on whether the buyback had in fact been initiated. Here is the response I received.
**Please contact the company for mor information regarding a buyback (EMAIL - dg@stockholmcapitalgroup.com).
**Please note because of the numerous requests (from mostly the same prsons daily) which are by a majority chat room driven for the shares outstanding, please note we are exercising our right to respond on a delayed basis if needed (according to the SEC this is up to 5 days for emails) for these outstanding numbers.
The total shares outstanding for Intelective Communications as of 4-17-2008 were 4,218,734,000 shares outstanding with 1,354,712,806 shares free trading and 2,864,021,194 shares restricted with 5,000,000,000 shares authorized.
Thank you
Jason M. Bogutski-President
SIGNATURE STOCK TRANSFER, INC.
2632 Coachlight Court
Plano, Texas 75093
Telephone 972.612.4120
Facsimile 972.612.4122
Email – signaturestocktransfer@msn.com
The funny thing is that the address of Capital Solutions matches the address that breharb just posted for manta. Hmmmm.
Capital Solutions I, Inc.
One N.E. First Avenue, Suite 306
Ocala, Florida 34470
(Former name and former address, if changed since last report)
Rooki, I saw that filing also. I also saw that it referenced a company called capital solutions inc. In parenthesis it says former company name. Here is the link.
http://www.capitalsolutionsinc.com/
Also, I believe somebody may have already posted the laws of a pinky doing a buyback, can somebody repost the rules of a buyback for us. It may be against the law for a company financing a buyback to divulge any info whatsover. That could go under the insider trading law. If somebody told me that they were financing a huge buyback I would purchase as many shares as possible but what do I know. I (Bud Fox) was busted for insider trading with Gordon Gekko (Wall Street with Charlie Sheen for you generation x'ers)
I have had no luck with Stockholm Capital group yet either. Perhaps Lee is getting his financing with them to fund the buyback. 1 billion shares is fairly cheap in my opinion so correct me if I am wrong here. At a price of .0001
1 mil = 100 bucks
10 mil = 1000 bucks
100 mil = 10,000 bucks
1 bil = 100,000
100 grand is paltry in the grand scheme of things. Perhaps he got a cash infusion from Stockholm and will either re-pay the loan at a later date or exchange for shares. I still have a good feeling that something huge is about to happen.
So sorry you have been trapped in this baby at a much higher price but you were one of the ones pumping this big time. I have been following this for 3 months and you are part of the reason many other folks are now trapped.
A. Never fall in love with a company pinky or otherwise
B. Trade the volume not the hype
If no positive news in the next week I will be scooping up some sub .02's by next Friday. I was correct in my assessment by hitting .03 last Friday and got out at .04.
Waiting on some funds to clear and I will pick up another couple of million myself.
Dear Mr. Pinedo,
As I stated in my email to you yesterday. Please resign as CEO of Pilgrim Petroleum. It is quite obvious to all of us by now that you are simply the wrong fit for taking this company into the future. Your lies and deception over the years have done more harm then good. With oil at an all time high and your stock trading at .006 is an absolute disgrace to have you at the helm of this ship. Mr. Jerry Schilling, please do your best to right his wrongs and take over as captain of this sinking POS.
I have done extensive research on Lee as well. Just type his name into google and you will find tens of thousands of links linked to him. I believe he is above board and trying his best to become transparent. I believe he has kept he word by initiating the buyback and holding back on all PR's until he announces the retired blocks first. Why would he PR finalized deals when he knows it will not lift the PPS. First he will complete the buyback which will lift the PPS and then he will start with the onslaught of PR's regarding updates and finalized deals to keep the MOMO going. Seems like a smart plan to me. No need wasting good news until buyback complete. JMHO.
I agree, I would say at least 500 mil have been bought back based on 2 large trading days over the past 3-4 weeks. We went a week or more without any trades at all.
$74,000 in yearly revenues? That's 6,000 per month. We should give Ralphy a little more time to right this ship. If not, how bout' a class action lawsuit for the bold lies he has told over the past several years.
I think at this point Lee is the Investor Relations contact. I have spoken with him a few times. Now I can't reach him. I believe many good things are on the horizon though :)
Randy: Great question, we would all like to know what happened to the $34 mil that Pinedo proudly boasts about. If he would do his part to be more transparent we would all be much better off.
From the latest PR: "The company has started buying back the shares already and will announce each time a block of the purchased shares are retired".
What Lee needs to do is PR when a block has been retired and mention a realistic dollar figure as to what he truly feels the company is worth.
They will PR once a block has been retired.
Pinedo is a crook and Liar EOM
Hey Rooki: I know you follow and research 82media quite often as I do but have you seen the 82mediahost.com site.
http://www.82mediahost.com/aboutus.html
Do a google search for 82mediahost and you can see all of the additional websites linked through them.
Gotta be the buyback. Come on Lee smack us with some serious news on Monday. Weeeeeeeeeeeeeeeee
So I guess I was right. Picked up some real cheapies and will sell very soon. I told you 3's by Friday. That's how the real traders play the game. Play on playas. Don't hate the playa, hate the game.
Don't be silly Doog, you know I meant .03's look at my post several days ago to swizzer.
Now remember, I did say 3's by Friday!!!
Looks like Ralphy forgot what 2 weeks means but he sure didn't forget what dilution means. Either that or somebody got really tired of waiting.
Swizzer: without a solid PR or any news regarding contracts with dollar figures you will be able to pick up some 3's by Friday.
Sony: If that is the case, is it legal for Lee to just walk away without making a public statement to the investment community or shareholders. If ITLV is done, don't you think we would have heard something from Lee in a PR to the effect:
It is with great displeasure that I advise my shareholders and the investment community that ITLV will be dissolved effective ... etc.?
I will load some 3's next week!!!
**Please contact the company for mor information regarding a buyback (EMAIL - dg@stockholmcapitalgroup.com).
**Please note because of the numerous requests (from mostly the same prsons daily) which are by a majority chat room driven for the shares outstanding, please note we are exercising our right to respond on a delayed basis if needed (according to the SEC this is up to 5 days for emails) for these outstanding numbers.
The total shares outstanding for Intelective Communications as of 4-17-2008 were 4,218,734,000 shares outstanding with 1,354,712,806 shares free trading and 2,864,021,194 shares restricted with 5,000,000,000 shares authorized.
Thank you
Jason M. Bogutski-President
SIGNATURE STOCK TRANSFER, INC.
2632 Coachlight Court
Plano, Texas 75093
Telephone 972.612.4120
Facsimile 972.612.4122
Email – signaturestocktransfer@msn.com
What happened???Was that a buy or sell???Do we actually have a bid and ask??? Weeeeeeeeeeeeeeeeee
John Patrick when will Ralph release his promised earnings. He mentioned 2 weeks which have passed any ideas. I email him and leave messages for him every day and no response. What have you guys discussed, anything??
I say you are wrong dmchas:
That is $118 mil over 8 years for 14.75 per year. The cost of doing business in paying rent on facilities, salaries, logistics et al will be more than that per year so I see a short term operating loss unless they do dilute to have working capital.