Pilgrim Petroleum Corp. (PGPM)

[AngieM]

Pilgrim Petroleum Announced Today LOI Acquisition of Leases in Canada
Monday April 30, 10:55 am ET


IRVING, Texas--(BUSINESS WIRE)--Pilgrim Petroleum Corporation (Pink Sheets:PGPM - News; FWB:PHV) and its alliance with Huizhou Engineering Co. Ltd and SEWAN Ltd; the Alliance named GHS Energy along with General Energy will have access and general presence in Canada and China for oilfield services properties and royalty owners. The parties involved on the new alliance have come together in a mutual interest to cooperate and openly share strategic position on the oilfield services market and grow more asset value to Pilgrim Petroleum.
Pilgrim Petroleum Corporation's Chief Executive Officer, Rafael Pinedo said: "GHS Energy will contribute with Pilgrim Petroleum to develop exploration and production opportunities in Canada and Asia." He also added: "Pilgrim Petroleum and its affiliates' strong competitive advantage brings additional assets and revenues."

About Pilgrim Petroleum Corporation.

Pilgrim Petroleum Corporation (Pink Sheets:PGPM - News; FWB:PHV) 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