PGPM .055 x .06 has nice news with co. saying pps could be .15!
Pilgrim Petroleum Corporation (Pink Sheets:PGPM - News) announced today the company's 1-2 year projected EPS (Net Earnings/Outstanding Shares) $50,000,000/322,720,011 of 0.154, Based on this EPS multiplied by a sustainable growth rate of 25% and multiplied by the average industry P/E ratio of 14.79 (according Reuters), Pilgrim's intrinsic value or estimated stock value should be $2.847. According the Gustavson Report, our estimation of potential resources based on an early or "pre-development" stage, will represent a high probability of drilling success, which may indicate the valuation maybe up to double or triple of this projected stock value. 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) Recent activities related to the estimation of resources along with its on-going process for the preparation to become a fully reporting company and additional property acquisitions among others will let Pilgrim capitalize on its true value of operations as well as opening a transparent communication between the company and its shareholders.
