Pilgrim Petroleum Corp. (PGPM)

[ncpti]

But I did inquire today after the ACLY news....

From: Matt O'Bryant [mailto:[e-mail]]
Sent: Thursday, November 17, 2011 1:39 PM
To: 'Bryan Bulloch'
Cc: 'Rafael Pinedo'
Subject: Delisting of Arcland Energy

Bryan,

I hope you are doing well and have a great Thanksgiving holiday.

I wanted to address some concerns my shareholders and I have concerning the recent delisting of Arcland Energy from trading.

After discussions with Mr. Pinedo it appears that he is unwilling to correct the situation with the SEC and OTC Markets respectively.

If this is the case and Arcland Energy will be becoming a private entity then we will need to come to an understanding within the next few days concerning liabilities due to Pilgrim Petroleum.

As you are aware, an operator is being engaged to take over operations of the NW Texas properties, bring them into compliance and to begin a rework and drilling program.

At this point and time the equity provided to Pilgrim Petroleum for extension of the notes due on the property transfer has no value. Therefore I would recommend that we begin discussions on transferring the NW Texas leasehold back to Pilgrim Petroleum.

Please let me know at your earliest convenience how Arcland wishes to proceed.

Thank you.

Matt O'Bryant
President
Pilgrim Petroleum Corporation
4553 Jimmy Doolittle Drive Suite 6
Addison, Texas 75001
M. 214.289.8293
T. 214.764.3141
F. 214.764.3141
[e-mail]
www.bpetroleum.com

ncpti