Replies to post #25974 on Pilgrim Petroleum Corp. (PGPM)

[Helter Skelter]

In March 2007 PGPM sold 3.2 million barrels of proven oil reserves for $41,640,000 (supposedly)...for stock in some undisclosed company. That comes out to about $13 per barrel. Why would they do that if these assets were so legitimate...when the price per barrel was $78.53 and climbing like an unbridled rocket...???

Yep. Makes sense to me too, lOl...

$41,640,000 / 3.2M barrels = $13.0125 per barrel:



80% of 4M barrels = 3.2M barrels:



Price per barrel of oil March 2007 was $78.53 and ripping! lOl...

It's all bullshit.