Pilgrim Petroleum Corp. (PGPM)

[duratrader]

The SEC 8-K Filing states and I Quote " In accordance with the LOI, and subject to approval by the Board of Directors and stockholders of Arcland Energy Corporation, the terms and conditions shall be as set forth in a formal definitive agreement to be negotiated and entered into by and between the parties within ninety (90) days of the execution of the LOI."

Arcland Energy Corporation a Utah Corporation (the “Company”) has executed a Letter of Intent (LOI) on March 7th 2011 with Linem Development Corporation SA (Linem) concerning interest in the Kumsky license area located in the Nizhnevartovsky district Russian Federation.

March 7th to April 7th = 30 days
April 7th to May 7th =30 days
May 7th to June 7th = 30 Days

30 + 30 + 30 + = 90 Days

bobber this post is not meant for you, Just informational to some who don't know.