Pilgrim Petroleum Announces Update to Shareholders, Dividend and Buyback Exchange and Operations Update
September 18 2008 - 11:56AM
Marketwired
Pilgrim Petroleum Corporation (PINKSHEETS: PGPM) (FRANKFURT: PHV)
announces due diligence of the dividend and buyback exchange has
finalized and calculations for the dividend and shareholder buyback
has been approved; However, SEC filings, corporate actions required
in Arcland Energy are required before a final announcement to
Pilgrim shareholders, we will release this information within the
next few days.
With great positive outlook, Pilgrim's management expects Q3
results to maintain its overall growth pace due to the increase on
field services income and share production in operating cost.
Additionally, the Pilgrim business development team has increased
with great results and new business opportunities.
About Pilgrim Petroleum Corporation.
Headquartered in Dallas, Texas, Pilgrim Petroleum Corporation is
a publicly traded company (PINKSHEETS: PGPM), (FRANKFURT: PHV).
Pilgrim Petroleum Corporation is an independent oil and gas company
based in Dallas, Texas. The company is acquiring oil and gas
leases, producing properties, mineral rights, and surface interests
primary on marginal fields. Once acquired, the company intends to
redevelop each property to maximize the income from each property
by refurbishing and improving the existing production.
Forward-Looking Statements: The statements which are not
historical facts contained in this release are forward-looking
statements that involve risks and uncertainties, including but not
limited to, the effect of economic conditions, the impact of
competition, the results of financing efforts, changes in
consumers' preferences and trends. The words "estimate,"
"possible," and "seeking" and similar expressions identify
forward-looking statements, which speak only to the date the
statement was made. The Company undertakes no obligation to
publicly update or revise any forward-looking statements, because
of new information, future events, or otherwise. Future events and
actual results may differ materially from those set forth herein,
contemplated by, or underlying the forward-looking statements.
2008 Pilgrim Petroleum Corporation. The information herein is
subject to change without notice. Pilgrim Petroleum Corporation
shall not be liable for technical or editorial errors or omissions
contained herein.
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CONTACT: Pilgrim Petroleum Corporation Eddie Monet 619-864-0166
www.apetroleum.com
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