Pilgrim Petroleum Corp. (PGPM)

[ncpti]

I seem to think that ACLY still has the leases..at least that was eluded to in replies from O'Bryant as the question was posed to him what would he do with the leases...either sell them or work them. The answer was a combination of both.

The recent fines and court filings that were leveraged from the TRRC was against American and RP. A negotiated reduced amount was was agreed to.

As far as O'Bryant indicated PGPM can be an operator...or does that suggest that the fined leases went to ACLY with the lease deal??? I don't know.

Since ACLY has been demoted down board, they have not been posting any financials or even one ounce of information since the SEC did their inquiry. Even if the leased land was worked and pumped oil like crazy..it went to ACLY since they own the leases. Nothing went back to PGPM..no payments, no nothing as far as we can see, which isn't very far.

Since something stopped the transfer of share holders to ACLY of which we would have been paying for leases that we sold to ACLY as their share holders, PGPM seems to be in a choice spot!

I don't know but looks like PGPM including the share holders will get what they will be due (if there is something) since share holders are still with PGPM that we wouldn't have gotten if transfered to ACLY...big question mark there!

I'll check into the never ever being an operator if fines are accessed...don't know that end of it but should be good reading! Thanks.

ncpti