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10 1/2 years Every PR was total bs, yet no one went to jail. It would be nice to have someone 'not on the take' as the next SEC chair. Drain the swamp, so what if wall street and CEOs end up in the can.
28,750 @ 0.0010 +0.0009 2/12/2016
I have a ton of ten year old shares available under .07 each if you really gotta have them.
Pilgrim Petroleum Announces Year-End Letter to Shareholders
IRVING, Texas -- Pilgrim Petroleum (PINK SHEETS: PGPM) (FWB: PHV) issued a letter to shareholders today, providing an update on the company's progress. The letter reads as follows:
To Our Valued Shareholders:
Pilgrim Petroleum's performance in 2006 provided strong confirmation of our company's ability to grow, maintain and increase financial and operational performance. All of us at Pilgrim Petroleum recognize that raising shareholder value is our collective challenge. Good operating results, combined with no debt in our balance sheet, have contributed to aggressively focus on the growth of our portfolio.
Accomplishments
* Workover and completion services on 60 wells on Pilgrim Petroleum's most important leases (Hooks, Lockridge, Climax, Morgan and White Meldon Leases) steadily increased our production levels.
* Pilgrim Petroleum completed its Reserve Evaluation program (Phase one) with the engineering consulting firm Gustavson Associates, a very important step to comply with stock exchanges filings requirements and auditing.
* Results of prospective resources are: Low-3.98 BCF, 996 MBbl; Best-7.32 BCF, 1,832 MBbl; and High-10.70 BCF, 2,676 MBbl.
* Gustavson Associates express opinion on Pilgrim's potential resources, which do not include recent additional acreage acquired by the company (Phase two). The report is available at our website: http://www.bpetroleum.com. We expect these recent additional properties be evaluated and included in our Geological report in 2007.
* According to Gustavson Associates, Pilgrim's Estimated Future Net revenue (before income taxes) is $102,370,000 and a Net Present Value at 10% discount rate of $52,050,000.
* Strategic Alliance with General Energy Corporation, headquartered in Montreal Canada, provider of additional acreage in the Central Gaspe Peninsula.
* General Energy Corporation sets strategic alliance with Huizhou Engineering Co. Ltd an SEWAN Limited, alliance named as "GSH Energy," to jointly develop and manufacture land and offshore workover equipment and portable trailer drilling rigs.
* Being mindful of the need to offset dilution, in early December 2006 the company announced a plan to repurchase up to $1.5 million of the company's common stock over a period of up to two years.
* Renewal and signing engagement agreement with American Capital Investments, LLC (http://www.americancapitalipo.com), which will provide financial and strategic services to increase visibility to institutional investors.
* Pilgrim`s common stock commenced trading on December 20th on the Frankfurt Stock Exchange under the ticker symbol "PHV," WKN: "A0ETGE," ISIN: US72147P1075.
Pilgrim Petroleum management are focused and determined to develop more proven reserves.
FINANCIAL STATUS
Pilgrim Petroleum keeps maintaining no long-term debt, minimal liabilities and a substantial increase of net revenues.
Our financial strategy emphasizes continued strengthening of our much-improved balance sheet. At year-end 2006, we have achieved positive profit margins and outstanding performance ratios. Elevated by a high-performance culture, we continue to build an exciting company and a compelling future. By adhering to a disciplined financial strategy, we were able to improve our cost structure, strengthen our portfolio of assets and enhance the company's overall financial strength.
The above observations have provided Pilgrim Petroleum with the confidence, drive and knowledge to implement the following strategies for our leases development.
What is on the short-mid term agenda?
* Continue to implement Pilgrim's development and reactivation program on the most profitable leases and potential debentures
* Become a fully Reporting Company
* Pilgrim Petroleum earnings and revenue streams are expected to further increase from reactivation of inactive wells and will be focused in 2007 to increase production with different recovery process along with new drilling activities along with our Field Service Department and Basic Energy Services (NYSE:BAS)
* Search of partnerships to venture on developing Pilgrim's exploration program and drilling/exploration campaign estimated to begin first quarter of 2007
What is Pilgrim's long-term goal?
* Commercial Production from our current portfolio
* Re-invest our excess cash flow into new exploration potential reservoirs in deeper horizons or in other similar properties
* Venturing with peer companies to acquire working interest in attractive new prospects and proven reserves properties
* Long-term profitability and sustainability
CORPORATE COMMUNICATIONS TARGETS:
Given the upcoming changes and in order to ensure effective time management on the new developments being implemented by Pilgrim Petroleum Corporation, we provide our shareholders and potential investors with a quarterly President's Report.
For IR information email or call at:
emonet@americancapitalipo.com or telephone: 619-864-0166 Fax: 619-269-6496.
Our management remains focused on developing strong communications by effectively executing its corporate goals:
* Investor Relations program with American Capital Investment, LLC - ongoing
* Improving the Pilgrim Petroleum website to ensure that the most up to date and relevant information is being presented effectively.
* Wallst.net, which receives several million visitors a month, interviewed Pilgrim's CEO, Raphael Pinedo. It is available at www.wallst.net, and Pilgrim Petroleum's website.
* Our Investment Strategy Plan will continue to focus to further expose Pilgrim Petroleum in the US, Canadian and European markets.
Please visit www.pinksheets.com to view all of Pilgrim's publicly filed documents.
On behalf of the board of directors and management team at Pilgrim Petroleum Corporation, we would like to thank all of our current and future shareholders for their continued support and interest. Pilgrim Petroleum management is very excited about the growth achieved this year. Pilgrim Petroleum is focused on increasing production of their existing oil supply to commercial levels and further growth through acquisition of domestic and international properties opportunities!
Raphael Pinedo
President & CEO
Pilgrim Petroleum Corporation
About Pilgrim Petroleum.
Headquartered in Irving, Texas, Pilgrim Petroleum Corporation is a publicly traded company (PINK SHEETS: PGPM) (FWB: PHV). Pilgrim Petroleum Corporation is an independent oil and gas company based in Irving, Texas. The company is acquiring oil and gas leases, producing properties, mineral rights, and surface interests primary on marginal fields. Once acquired, the company intends to redevelop each property to maximize the income from each property by refurbishing and improving the existing production. Forward-Looking Statements: The statements which are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including but not limited to, the effect of economic conditions, the impact of competition, the results of financing efforts, changes in consumers' preferences and trends. The words "estimate," "possible," and "seeking" and similar expressions identify forward-looking statements, which speak only to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events, or otherwise. Future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward-looking statements.
2006 Pilgrim Petroleum Corporation. The information herein is subject to change without notice. Pilgrim Petroleum Corporation shall not be liable for technical or editorial errors or omissions contained herein.
Am surprised they haven't jumped on the fracking bandwagon. That could of been worth a few dollars per share in another pump and dump. Just my luck, they stopped pretending to be a good company and I'm holding the bag.
Some of the leases must have tar sands under them.
http://earthjustice.org/features/campaigns/fracking-across-the-united-states
Now just get Ralphio to invent some new BS fairy tales...
I'm not convinced that PGPM was ever in business to do anything in the oil business.
Sure they filed some papers, claimed they had this and that, and PR'ed a few papers. But what else did they actually do?
My intuition is saying we all been had from start.
I won't be funny if someday we discover it was all just a share dilution for $$$ scheme with the so called assets never really existing, but were PR'ed to grease the share dilution for $$$ scheme.
Did the principals of PGPM get away with a 40+ million dollar crime?
Hundreds of thousands or even millions $$$ from the dilution of this stock?
$40+ million in shareholder assets gone?
One can ask these questions and never get to the truth, what was Pinedas intentions for releasing PRs that never had a chance in hades of ever coming true.
I see their website is kaput for months now. A new website would only prove their intention of pulling the wool even longer.
IMHO I see the possibility that PGPM never even existed, possibly PGPM was just a conpany on paper only, and they spent their time mulling.
IMHO I see the possibility that this PGPM never intended to produce anything but dilutional PRs designed to sucker investors from their coin by claiming massive assets they did or didn't even really have.
I see the PGPM principals are pretending to be deaf, dumb and blind, and they are getting away with it.
What might happen?
Years and decades pass by, shareholders kick the bucket one by one and their shares are sold for next to nothing into the invisible short (some young man close to PGPM that knew the company would fail).
The principals of PGPM all kick the bucket from old age senility and county jail food and nothing even remains.... even the few thousand message board postings evaporated because investorshub went out of business in 2057. The stock symbol long ago evaporated and no one can recall what it ever meant.
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What is the status of the ACLY shares?
Are they cancelled like the old GM shares are.
Symbol: N/A..... ARCLAND ENERGY CORP RESTRICTED 0.00
Who took PGPM shareholder assets?
Has anyone gone to Leavenworth over this?
Especially the 2005-2009 PGPM management, those PRs were blatantly deceptive. Someone should serve 20 years.
Of course, if PGPM would immediately return my original investment $$$ plus 7% per year I would forgive this all. LOL not holding my breath.
Will the PGPM shares "soon" be cancelled too, or will they take their time doing that too?
Someone got away with six or seven figures $$$ from the diluted shares. Not I. gltya
Where did all the dilution money from the past ten years go to?
It wouldn't surprise me if Bags diluted a zillion quadrillion reverse split adjusted original shares.
He ought to sell some coupons to appear in a future Million Dollar Rip Off, and go buy yimself a trophy even.
Nyuck Nyuck Nyuck
During the past 10 years they never listen
First a Golf League no one wanted, then a TV show no one wanted, then drink and gum no one wants. And let us never forget the Scottsdale beating.
Pagnano must be close to the all time record for total diluted shares since inception. He should see if can "buy" another award like he did for his TV show years ago.
With all the reverse splits over the past 10 years or so, is he over one quad-drillion shares yet?
I have been waiting 5 1/2 years.
FDA Disclosure?
Have the products been evaluated and OK'd by the FDA?
PGPM doesn't dilute LOL
When I bought this, there was under 300 million os.
I have never seen anything from these fine people except exaggerated PRS.
Does anyone know if PGPM ever produced a single drop of oil?
If they want extract some easy oil, they can come here and remove my oil from my car oil change waste oil container, a couple easy gallons there.
We are all going to be rich
if we all win the power ball lottery
Shale Boom in Texas Could Increase U.S. Oil Output
I hope PGPM is frickin-fracking.
to PGPM_COO
Where has the estimated $500,000 to $5 million from share dilution gone?
You shamelessly raised capital via dilution, what was it spend it on?
Larceny is a crime involving the wrongful acquisition of the personal property of another person.
Embezzlement differs from larceny in two ways. First, in embezzlement, an actual conversion must occur; second, the original taking must not be trespassory. To say that the taking was not trespassory is to say that the person(s) performing the embezzlement had the right to possess, use, and/or access the assets in question, and that such person(s) subsequently secreted and converted the assets for an unintended and/or unsanctioned use.
Conversion requires that the secretion interferes with the property, rather than just relocate it. As in larceny, the measure is not the gain to the embezzler, but the loss to the asset stakeholders. An example of conversion is when a person logs checks in a check register or transaction log as being used for one specific purpose and then explicitly uses the funds from the checking account for another and completely different purpose.
What happened to the proceeds from the near billion share stock dilution from 2005-present?
I estimate over $500k was raised.
Thanks.
Please answer questions from deleted post #15641
Is this the place to sign up for the Scottsdale qualifier?
I want to be in the next show.
Salaries? LOL
Salaries?
For what
The Feds ought to investigate Pinedo. He is either in business (trying to pump oil but failing - and too ashamed and too much of a worm to report to the shareholders), running several sets of books, or he is living off the shareholders.
IMHO, since he could careless about the SEC and his principals (the shareholders); because of Pinedas indifference to everything, I tend to believe he is running several sets of books or running a business that does nothing except issue shares.
Only a PR apology from Pineda showing his hand would change my opinion.
The people that consume these berries on a daily basis and live where these "miracle" health fruit berries are produced only live on average 56 years.
Ralphie deserves to be tar and feathered for that PR several years ago when he claimed 900M bbls of oil in his reserves.
The stock ran to about .25 then soon after flat lined.
Ralphie talked big, with his big promises and big plans. ALL BULLSH!!
Seems like his big PRS were all part of his dilution. I bet he made off with millions.
Did/Does Pilgrim have a relationship with Valor?
VALOR ENERGY CORP (Other OTC: VLEN.PK) went up $1.01 today,
closed at $1.50
I'd be happy if Pillgram ran just to seven lousy cents.
Still holding [an average .06] from the P&D days when apetroleum ran into the .20's. Poor little fool am I.
Did they shut down operations in January?
Is Pagnano giving away the first order for free, to retailers to taste and sample in August?
""HNFB is in the final stages of testing its trial production run which will be shipped as samples beginning mid to end of July 2009.""
I bet the orders will just be rolling in (LOL)
You know nothing is going on in Pagnanoland.
Paganono has been lying every day and selling Chicklets to tree hugging libtards isn't going to work either, they are too busy abandoning their mortgages in shame. 1 in 6 are on some form of government assistance. The big collapse comes later this year when retailers stop ordering and the junk on the shelf's doesn't sell cause the consumers are tapped out of credit and/or unemployed. then the collapse ion commercial real estate and the 2nd wave of foreclosures, those that work for a living that can't afford their castles.
I suspect Pagnano's gum will soon be forgotten.
What will be his next scheme?
Pre-fab cardboard homes? Week old bread redistribution to 150 million starving americans in 2011.
The bid goes up only when demand out strips supply.
Since pagnano has an unlimited supply of shares to dilute....
This gum scheme is yet another total failure.
Trademark infringement.
Mike pagnano's unauthorized use of the trade name "Chiclet(s)"
HNFB expects to ship a few units over the first six months of distribution, whether the overpriced awful flavored diuretic squash sells or it they have to be destroyed due to expiration date is another problem.
This product not intended for human consumption, but the pigs love it.
Any update on the MDSO II.
It is very critical that we ramp up production and distribution on a gradual scale
BECAUSE THEY WON'T TAKE OUR WORTHLESS SHARES IN EXCHANGE FOR MORE UNMARKETABLE PRODUCT
Loaded with preservatives.
And the FDA hasn't approved any of his claims, yet the dope claims his dope helps the body to adapt more effectively to stress and reduce the intensity of negative impact caused by mental tensions, emotional difficulties, poor lifestyle habits.
Yet people in Brasil that grow this crapola die 7 years earlier than the average fat dumb american cheeseburger artery golfer.
rare and exotic streptococcal combination of chlamydia trachomatis and pharyngitis
Hey Mike, breath mints
antioxidant overdose
Let me guess, the logo will a rip off of a famous brand name logo design.
Just like the MDSO was a ripoff of another tourney and TV show.
He is into big square blocky logos, that is why they look amateurish, even his Heathrow logo looks like a rip off of several designs pasted onto his block style. He has no imagination. He fancies himself as a creator and a writer.
He couldn't sell oxygen and water on the moon, even if he was the only source in the universe.
But his prs do sell diluted shares.
Subliminal messages in a bubble gum wrapper, chalk another one up to the covert and unscrupulous Michael Plagnano, chief operating idiot of the Heathrow Delusionals LLC and inventor of the turkey.
In the new logo featuring a gorilla and a cow, Mike uses the same invisible ink that he uses in his imaginary contracts.
Fold the wrapper a certain way and it reads FARCE
Hold the wrapper against the light and you can see the product warning label.
Cut the Indian squaw's knees off and paste them over her chest.
What ever happened to the big ZCOM contract that was suppose to save the Million Dollar Farce Show
Are tens of millions being stolen here since 2003?
If you use acai products you are stealing food from the mouths of poor Brasilians. The local population can no longer afford these important food stuffs, as the price rose over 60-fold over the past several years.
U.S. consumers are depriving Brazilian jungle dwellers of a protein-rich nutrient they’ve relied on for generations.
U.S. consumers are turning a “a typical poor people’s food into something like a delicacy.”
Life expectancy in Brasil is under 71 years, compared to 78 in the USA.
BLAME MIKE PAGNANO FOR YOUR STARVING CHILDREN.
The U.S. Food and Drug Administration hasn’t reviewed any acai-based products for safety or purported health benefits, Susan Cruzan, an FDA spokeswoman based in White Oak, Maryland, said in an e-mail.
This message is also unaudited and is also total BS too. Income, oh really? From what? Sales from diluting the stock, money kickedback from shoddy deals/agreements?
What is the $345,637 asset? Failed Ideas drawn on paper napkins are worthless. That is all I see here, failed ideas scribbled in crayon on Motel 6 stationary.
How can the MDSO be an asset as it is unmarketable, more like a liability with the $1 million in prize money now several years in his arrears.
Liabilities $824,817... or is it over $1,824,817
What is the shareholder deficit now, over $25 million?
The gum doesn't sell but the hogs and chickens eat it.
Mike Pagnano thinks Grassroots marketing is releasing prs that make outlandish claims and events that never actually occur, all in the interest of diluting shares to put food on his table. (Oh yes, that's right, he never took a salary and the shareholders owe him over $500k, he does all his work as a form of charity and he prays to Mecca five times each day and doesn't eat the pork from his SO-LEAN company that goes along with the stem cell company he dreams about)
He has no visible means of support.. the SEC and IRS would have a field day.
You know who Pagnano's friends are. You are only as good as the people you surround yourself with. Some have been locked up for using illegal substances. Those people that use illegal drugs have expensive habits. All I know is that in three years, three reverse splits equaling 1 for 6,000,000 shares, over $20 million in shareholder deficits and nothing to show for except an unmarketable video tapes. Do you think there is some connection there? SINCE 2003, No ticky, no laundry
Lemme guess, Mike has a dysfunctional 18 year old niece that is also unscrupulous.
The millions went somewhere