Replies to post #18084 on Pilgrim Petroleum Corp. (PGPM)

[bud_fox]

The leases are not worth $40 mill any longer.

Q: Based on the "original" Pinedo valuation of $40 million value, it appears we sacrificed 75% of the "value" for a $10 mil note.

O'Bryant Answer: "It's worse than that. See above."