Pilgrim Petroleum Corp. (PGPM)

[bud_fox]

My e-mail to Mr. Raphael Pinedo:

I sent Pinedo an e-mail at approximately 5:00pm yesterday and as of yet have not heard a thing.

Dear Mr. Pinedo,

Several weeks ago you issued a press release touting your better than expected increase for the third quarter and that you would release your company earnings no later than October 15th. Since then, several investors have contacted a supposed investor relations representative named Eddie Monet. Mr. Monet had stated that it was possible that earnings would be released after the market close on friday and has since mentioned that they would be released today. As of yet, the third quarter earnings have yet to be disclosed to your shareholders. Are you in contact with Mr. Monet or is he releasing such information under his own accord. You mention that you would like to be removed from trading on the pink sheets and moved to a more reputable exchange for visibility and credibility from institutional investors. How can you expect such respect and credibility from "The Big Boys" on the street when you have yet to earn the respect of your present and long term shareholders. We understand that an unexpected delay may occur from time to time but you simply must convey that after such a poignant press release and the others which followed since. It is disappointing to be led astray after such a huge build up. If you truly want to be treated like a "real company" perhaps you should act as one. One that is open and forthright and readily accessible to your shareholders