Pilgrim Petroleum Corp. (PGPM)

[PGPM_COO]

While I cannot speak directly for Mr. Pinedo, I will comment/speculate based on what I know.

Mr. Pinedo decided that it would be in the Company's best interest for him to resign in order to avoid any future conflicts of interest.

He is still a shareholder of a very small amount of the companies equity and from emails and posts I have read on these forums he holds less shares than many of you.

As to what he will do next, Mr. Pinedo has many successful companies that he runs in mining and aviation. I am assuming that he will focus his efforts on those endeavors possibly to include Arcland Energy although again this is all speculation.

Of course even posting this could damage my relationship with him, but here's to hoping he doesnt read this forum.

Also, shareholders seem to think I am his puppet, but I can assure that is not the case.