Not much of a PR as no numbers except that 20% increase over last month in production.......kinda silly to put this out without other news.....with other news it is icing on the cake....but when I eat cake, I usually skip the icing part....
I am still long on this stock though...so it can be taken as all is going according to plan with pgpm....
PGPM -- Pilgrim Petroleum Corp.
Com ($0.0001)
COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
Pilgrim Petroleum Corporation Announces New Record in Production
IRVING, Texas, Aug 02, 2006 (BUSINESS WIRE) -- Pilgrim Petroleum Corporation, (Pink Sheets: PGPM) announces that the company has achieved a new record in production for the month of July, an increase of over 20% from the previous month. The increase is the result of more wells in line. These figures will contribute to a new potential record on production for this quarter. Pilgrim Petroleum will be targeting new prospects with a low level of risk starting next month.
Pilgrim Petroleum Corporation Vice President of Operations Jeffrey Fanning said, "Our operational performance for the month well exceeded our expectations and our previous guidance, yet we look forward to maintaining our growth for some time as oil prices increase."
About Pilgrim Petroleum Corporation
Headquartered in Irving, Texas, Pilgrim Petroleum Corporation is a publicly traded company (PGPM). 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 develop each property to maximize the income from each 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.
SOURCE: Pilgrim Petroleum Corporation
CONTACT: Pilgrim Petroleum Corporation
Eddie Monet, 619-864-0166
emonet@americancapitalipo.com
www.apetroleum.com
Copyright Business Wire 2006
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