What a joke that must have been for Pinhead. Now he's up to his old tricks again, at our expense. Where did he come up with a projected 2008 NI of $50,000,000. Seems like he's including the phantom sales price (paid as stock in another phantom company) from last year to arrive at this $50,000,000 NI. How inventive and misleading. True Ralphie style.
Pilgrim Petroleum Corporation Reports First Quarter 2008
Tuesday April 29, 8:13 am ET
DALLAS, TX--(MARKET WIRE)--Apr 29, 2008 -- Pilgrim Petroleum Corporation (Other OTC:PGPM.PK - News); (Frankfurt:PHV.F - News) is pleased to announce its financial results for its three months ended March 31, 2008. Exceeding expectations, Pilgrim's Net Revenues for the year??? totaled $74,555 as compared with $110,190 in 2007 a decrease of 48%. Operating Expenses decreased more than 100% from last quarter 2007 with $172,083 to $83,883 in the first quarter 2008. The decrease in revenues was primarily due to the fact that the Company has lower working interest in most of its operated oil and gas properties. However, the Company's main focus has become maximizing Project and Lease New Acquisitions, while receiving royalty and interest income as a result of reworked wells on the Company's properties.
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