Pilgrim Petroleum Corp. (PGPM)

[awesomebummer]

Hey, PGPM COO, you said you shouldn't be doing this!


But MUCH appreciated, for your efforts to communicate with us. If we offer bad advice, please understand we have limited info and limited related knowledge of these areas.

Further, you wrote the following:

"5. Court case to get properties could last for months if not years."

and "Arcland is asking to re-negotiate the notes."

Getting the properties is not the only reason to file (or threaten to file) a lawsuit. As one defendent stated during the Watergate trials "when you got them by the balls, their hearts soon follow..." Threatening to name someone publicly and claiming they've committed some wrongdoing usually gets someone's attentive reaction. The status quo has not worked, and will not work going forward.

Also, you state above the phrase "is asking." That means Arcland (which really means its principal officers and/or board of directors) knows YOU are holding the beating cane. OK, you know all this, but why walk so gingerly?

The PGPM officers who transferred the assets of PGPM to Arcland are almost as responsible for the condition these assets are now in, as are the Arcland folks. (Of course, the individuals of the two companies involved may be the same, just wearing different hats! Re: you are the only one who has told us some details).

Anyway, good luck to us all and it sounds like you are working very hard for the good of all PGPM interests.