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PGPM - PILGRIM PETROLEUM CP (OTC)
Date Open High Low Last Change Volume % Change
05/21/08 0.0024 0.0029 0.0015 0.0020 -0.0004 9100220 -16.67%
Composite Indicator
Trend Spotter TM Sell
Short Term Indicators
7 Day Average Directional Indicator Buy
10 - 8 Day Moving Average Hilo Channel Buy
20 Day Moving Average vs Price Buy
20 - 50 Day MACD Oscillator Buy
20 Day Bollinger Bands Hold
Short Term Indicators Average: 80% - Buy
20-Day Average Volume - 14311365
Medium Term Indicators
40 Day Commodity Channel Index Buy
50 Day Moving Average vs Price Buy
20 - 100 Day MACD Oscillator Sell
50 Day Parabolic Time/Price Sell
Medium Term Indicators Average: - Hold
50-Day Average Volume - 10312164
Long Term Indicators
60 Day Commodity Channel Index Buy
100 Day Moving Average vs Price Buy
50 - 100 Day MACD Oscillator Sell
Long Term Indicators Average: 33% - Buy
100-Day Average Volume - 11563448
Overall Average: 32% - Buy
Price Support Pivot Point Resistance
0.0024 -0.0001 0.0023 0.0047
Can anybody tell me why I can see long stretches of no trading?
Stocks tumble on $132 oil, Fed meeting minutes
2 minutes ago
By MADLEN READ
AP Business Writer
(AP:NEW YORK) Wall Street is down sharply, smarting from record high oil prices and a bleak economic assessment from the Federal Reserve.
Stocks fell in early trading in response to oil that now costs more than $132 a barrel on the futures market. They took a further dive after the minutes of last month's Fed meeting said policymakers expected sharply lower economic growth, higher unemployment and higher inflation. And, the Fed indicated it was unlikely to keep cutting interest rates.
The Dow Jones industrial average is down about 132 points at the 12,696 level.
At some point these oil companies will do well. It's a matter of when?
Oil prices pass $132 after government reports supply drop
50 minutes ago
By JOHN WILEN
AP Business Writer
(AP:NEW YORK) Oil prices bolted to a new record above $132 a barrel Wednesday after the government reported that supplies of crude oil and gasoline fell unexpectedly last week. And crude's rise in the futures market again pressured consumers by pulling prices at the pump higher _ a gallon of regular gas rose overnight to a new record above $3.80 a gallon.
With gas and oil prices setting new records on a daily basis, many analysts are beginning to wonder whether anything can stop runaway prices. There are technical signals in the futures market, including price differences between near-term and longer-term contracts, that crude may soon fall. But with demand for oil growing in the developing world, and little end in sight to supply problems in producing countries such as Nigeria, few analysts are willing to call an end to crude's rally.
In its weekly inventory report Wednesday, the Energy Department's Energy Information Administration said crude oil inventories fell by more than 5 million barrels last week. Analysts had expected a modest increase. Gasoline inventories also fell and took the market by surprise, while inventories of distillates, which include heating oil and diesel fuel, rose less than analysts surveyed by energy research firm Platts had expected.
Light, sweet crude for July delivery rose as high as $132.69 a barrel in afternoon trading on the New York Mercantile Exchange before retreating slightly to trade up $3.43 at $132.41.
Investors seized on the inventory report to boost prices Wednesday, but traders interested in pushing prices higher are increasingly picking and choosing which news they wish to pay attention to, analysts say.
"Even if this report was bearish, with the momentum the way it is right now, it wouldn't matter," said Phil Flynn, an analyst at Alaron Trading Corp. in Chicago.
Crude prices first passed $130 overnight on concerns about demand and a weaker dollar. Analysts say crude has been boosted in recent days by especially strong demand for diesel in China, where power plants in some areas are running desperately short of coal and certain earthquake-hit regions are relying on diesel generators for power.
The dollar, meanwhile, weakened against the euro Wednesday. Investors see hard commodities such as oil as a hedge against inflation and a weak dollar and pour into the crude futures market when the greenback falls. A weak dollar also makes oil less expensive to buyers dealing in other currencies.
Many investors believe the dollar's protracted decline over the past year has been the most significant factor behind oil's rise from about $66 a barrel a year ago to today's highs.
At the pump, meanwhile, the average national price of a gallon of regular gas rose 0.7 cent overnight to a record $3.807 a gallon, according to a survey of stations by AAA and the Oil Price Information Service. Prices are 60 cents higher than a year ago, and many forecasters believe they'll hit $4 on a national basis at some point over the next month.
"That's a fait accompli at this point," said Linda Rafield, senior oil analyst at Platts, the energy research arm of McGraw-Hill Cos.
Prices are already that high in many parts of the country, and the number of stations charging $4 or more rises each day. Prices are nearing $5 a gallon in parts of Alaska.
Diesel fuel rose 1.9 cents to its own record of $4.558 a gallon Wednesday. Rising prices of diesel, used to transport most consumer and industrial goods, are sending prices of food and many other goods higher.
There are signs that high prices are cutting demand for gasoline, which fell slightly over the past four weeks and has been mostly lower since January, according to EIA data. Only serious "demand destruction," a jump in supplies from Nigeria or other oil producing nations or a jump in gasoline output by U.S. refiners could stop prices from continuing to rise, Rafield said. There is little sign that demand will fall anytime soon in fast-growing China, India and the Middle East, she said.
A move by the government to shore up the dollar, or an announcement that the Federal Reserve won't cut interest rates further, could also reverse the upward momentum, Flynn said; rate cuts tend to weaken the dollar.
Still, the price differences between the current, July crude oil contract and contracts for delivery of oil in later months signal a possible correction, or sharp price downturn, at some point, Rafield said. Many analysts have long argued that prices have risen well beyond levels that can be justified by supply and demand fundamentals.
"It's very difficult to call when this is going to happen, but when it happens, it's going to be quick and ugly," Flynn said.
In other Nymex trading, June gasoline futures rose 7.97 cents to $3.3841 a gallon, and June heating oil futures rose 10.40 cents to $3.8790 a gallon. Both contracts set new trading records. June natural gas futures rose 27.5 cents to $11.64 per 1,000 cubic feet.
In London, July Brent crude rose $4.01 to $131.85 a barrel on the ICE Futures exchange.
___
Associated Press writer Pablo Gorondi in Budapest and AP Business Writer Thomas Hogue in Bangkok, Thailand, contributed to this report.
PILGRIM PETROLEUM CORP (NASDAQ:PGPM) Sidelines Mode
Smart Scan Chart Analysis indicates a counter trend rally is underway. It also indicates that the current down trend could be changing and moving into a trading range Sidelines Mode.
Based on a pre-defined weighted trend formula for chart analysis, PGPM scored -55 on a scale from -100 (strong downtrend) to +100 (strong uptrend):
-10 Last Hour Close Below 5 hour Moving Average
-15 New 3 Day Low on Tuesday
+20 Last Price Above 20 Day Moving Average
+25 New 3 Week High, Week Ending May 17th
-30 New 3 Month Low in March
-55 Total Score
Open High Low PGPM Price Change
0.0024 0.0029 0.0015 0.0015 -0.0009
I'm really in no position to give others advice. I see that the company has ongoing projects, continueous pr, show financials (even when they don't have to), filing drilling permits, hell they even have a career section on their website. To me it seems like they are operating in a way that companines are supposed to operate. In order to really get this thing off and running, they have to put out something that says they've discovered more oil and starting to drill, they are increasing production, headed on the OTC and get off PK, signing a JV. Something like that would make this thing sky rocket. When you get news that say's there doing something, but have not yet completed it, it's informative, but investors want to see results not speculation. I will be in this for a while to see what the upcoming months hold for this company.
It's funny. Every board has posters that hate the stocks they've chosen and every board has posters who love the stock they've chosen. It's almost like the hot chick that everybody wants, only to find out there are guys out there who have already been with her, and thinks she's an ahole. Sometimes you have to see the movie for yourself to find out if is any good.
Well, yes I believe it states the date in the PR on when they started to do this. It took them two years to complete it. But it's progress. At least they are putting out the information and indicated when they started it. They could of put out the PR like it was something new and made it sound even better.
That's fine, you don't have to answer me. I don't know why your scared to, but this stock will continue it's downward spiral if no PR comes out by the end of the week. This is all my opinion based on my history with this company.
Can you elaborate on this? I have no idea what you mean.
Why would I need to call IR. It's already trading in the 0.004 range. I was in this stock for quite a while. I know how this company operates. Broken promises and no communication. You can't run a company like this and expect shareholder loyalty.
Form 10-Q for GULF COAST OIL & GAS INC.
--------------------------------------------------------------------------------
19-May-2008
Quarterly Report
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION
LIQUIDITY AND FINANCIAL CONDITION
At March 31, 2008, cash and cash equivalents were $137,284, a decrease of $97,099 over December 31, 2007. Total liabilities at March 31, 2008 were $1,212,015, of which $455,887 were current liabilities. The remainder of the liabilities relate to the February and April, 2006 issuance of $2,000,000 of convertible debentures (the "Convertible Debentures") to three investors and recognition of a derivative liability arising from the warrants issued in that transaction.
The Company's sole source of revenues has been from its interest in three wells located in Corpus Christi. Those wells had to be reworked in late 2007 and the operator has not recovered the costs and has not therefore commenced paying distributions as of the date of this Report. The Company does not anticipate the receipt of revenues in the second quarter of 2008 but believes that production will be sufficient so that distributions will be received in the third quarter of 2008.
As of March 31, 2008 we had a working deficit of $163,437, as compared to a working capital deficit of $43,680 at December 31, 2007. The decrease in working capital is largely attributable to an increase in accrued interest on the Convertible Debentures and a decrease in cash. The decrease in cash is largely attributable to administrative overhead expenses not offset by any revenues in the first quarter.
The Corpus Christi wells continue to produce oil and gas. However, revenues have been used to pay the costs of the rework and the Company anticipates that it will receive distributiions again commencing in the third quarter of 2008. The Company will use such revenues to pay its administrative overhead. The Company is currently negotiating with several prospective partners with respect to the Saratoga Prospect, but revenues, if any, from such project will not be realized in the near term. The Company also intends to seek additional financing for future projects.
RESULTS OF OPERATIONS
THREE MONTHS ENDED MARCH 31, 2008
COMPARED TO THREE MONTHS ENDED MARCH 31, 2007
REVENUES
The Company generated $94,197 in sales for the three months ended March 31, 2007 which reflect distributions from the Company's interest in three producing oil and gas wells in Corpus Christi, Texas. In the first quarter of 2008, the Company did not have any revenues as revenues from the Corpus Christi wells were used to pay rework expenses.
GENERAL AND ADMINISTRATIVE EXPENSES
General and administrative expenses during the three months ended March 31, 2008 declined slightly to $164,000 from $174,000 in the same period in 2007. This decrease was the result of slightly lower fees paid to outside professionals.
-13-
NET GAIN/LOSS TO COMMON SHAREHOLDERS
Net operating loss to common shareholders was ($162,957) or ($0.00) per share for the three months ended March 31, 2008 as compared to a net operating loss of ($96,155) or ($0.00) for the three months ended March 31, 2007. The increase in net loss results from the Company's failure to generate any revenues in the first quarter of 2008 for the reason set forth above.
ACCUMULATED DEFICIT
Since inception, we have incurred substantial operating losses and may incur substantial additional operating losses over the next several years. As of March 31, 2008, our accumulated deficit was ($7,751,083).
I sold this. I have been in this for over a year now and I have always heard "NEWS IS COMING", with not results. To many investors have bought into this only to be let down. The CEO is now concentrating on FORC and we all now how that stock is doing, with no production. Good luck to everybody that bought in the 1 cent range. It may be awhile before you get there again. This stock right now is bearish and it will likely drop down into the 0.004 range today. Usually if a stock opens and trades low for most of the day, it is not a good sign. Investors are tired of waiting on news that should of came out already. If you have profits, you may want to take them now. JMO.
This is not new. It's been there for over 1 year. Everything on this website is old and outdated.
Mick, I believe you should remove some of the things in your IBOX that have not been confirmed. There are things that are based on speculation and should not be there. People are coming here and reading it, get a sense of false info. Just my opinion.
So, what happen to that PR? I thought bill morris was scambling to get something out? Gee, I haven't heard anything new from him lately. I'm glad I got out close to the peek. If some of you got in this POS late, I hope you at least break even. There have been others that have lost big here. I've waited a year to sell this crap. You never here anything from this company, and when you do it's never what they say will happen. Good luck to you.
You need to read the wording and realize that it say "A GULF COAST AND OIL EXPLORATION COMPANY". There are many gulf coast gas and oil exploration companies out their. It does not specifically state GCOG. But it doesn't mean that it is not possible.
Enjoy it while you can, just continue buying. Besides I gave you enough info already. I gave you an old article on USEG (msg#1032) and I gave you Bill Morris's number (msg#1137). I give it about two weeks before some of you start to wondering what's wrong with this company.
Great! I hope you get your answers.
What does that mean?
There is a new guy at GCOG. His name is Bill Morris. A bunch of investors have been getting calls from him. He states that their will be no PR out, but they are going to try and get the shares up. If anybody is interested then call him. 888-819-5551. Because I'm not sure how he intends to get the share up with no pr.
None of the articles that I have read have GCOG mentioned. Now if you google gulf+oil+gas, then of course GCOG will pop up along with GE. This is similar to when USEG put out news about an article that had the words gulf coast oil and gas exploration company in it.
http://www.advfn.com/news_U-S-Energy-Corp-Announces-Exploration-and-Area-of-Mutual-Interest-Agreement-in_21268374.html
Until it is officially announced don't count on it.
Anybody know what other companies bluechipPennies have helped?
That just proves my point. You have nothing. Nobody has anything. Instead you take shots, because you have nothing better to say. You think by taking shots proves your point. You still didn't answer the question on where you heard of possible news. Why do you avoid the question?
In fact, I'll go one step further and challenge anybody on this board to provide solid facts that this company has a bright future and is going somewhere. Any up to date PR or even an email from the company, which has to be real. Provide something that is current. No charts, provide concrete facts which can be verfied and I'll stop.
You don't have to cry. You said you did your DD and you hear of possible news. That's pumping. Could you elaborate a little more? If you have done your DD, then you will notice that the last time this company had put any type of PR out was over a year ago. Have you even tried to call the company? How about an email? Try and let me know what you find. Their website is old and outdated. Nothing you can trust on there. They are in default and diluted shares. So really, tell me what DD did you do that leads you to believe you are making a wonderful investment? Give me something that is recent.
In reference to msg #924.
Just what I thought. All pump with no facts.
Could you name this source of possible news. GCOG has one employee. No PR department. So, I'm kind of curious on where your source is coming from. Since you've done your DD.
How'd those 9's do for you today? Oh yea, it never happened!
I guess you should. I am not that far from you, as to when I got in, and that was over a year ago. I wish you all the best, but you might be waiting a long time to see some profits.
No, I am not ragging. I chose to invest in this crap and I will take responsibility for my actions. I am merely warning other people not to make the same mistake. Look at the history of this company and you will understand. About your grammer, well, if you would make sense then I would not harp on it. But when you write things that don't make sense, then your going to hear about it. Just because this is a message board doesn't give you the excuse not to state things clearly.
I think you need to go back to school and learn how to write correctly. You never make any sense in your writings. Don't you ever proof read what you say?
Gas continues to climb and yet this stock continues to fall. That should smack you in the head on why not to invest in this stock.
I've been waiting for some time now for it to get there. It may never reach that point again. The company will either R/S or go under.
The only reason why I'm here is because I am trying to at least break even. When this thing, and I say when, it hits just a little over 0.0010, I will get out of this piece of crap and move on. This is a worthless stock going nowhere. Gas is at a all time high and yet here is a company producing oil at an all time low. The CEO of this company could care less about it's shareholders. This company will fold at some point.
If you would read some of my previous postings in the last few days, you would know it came out. Then you would be informed.
And he is going to increase it more. It's funny how the O/S increase, the time he went into FORC and the fact he is in default all coincide around the same time. I wonder what money did he use to purchase the shares in forc. Maybe shareholder money?
NOTICE OF DEFAULT
The Company received a letter dated March 17, 2008 from YA Global Investments,
L.P. (f/k/a Cornell Capital Partners, L.P.) ("YA") serving as notice that the
Company is in default under the terms of the Debentures and related agreements.
YA's letter states that the Company is in default for, among other things, the
Company's failure to reserve a sufficient number of authorized shares of common
stock to allow for full conversion of the Debentures and YA demanded full
payment of the YA debenture. Pursuant to the terms of the Debentures, the
Company covenanted that it would reserve a sufficient number of authorized
common shares to permit the conversion of the Debentures.
As of the date hereof, YA has not taken any further action pursuant to the
notice of default. The Company is currently evaluating options for attempting to
increase the number of authorized common shares in order to cure the default.
The Company has also had oral discussions with representatives of Taib Bank
B.S.C. (c) and Certain Wealth, Ltd. concerning the default and potential cure.