Pilgrim Petroleum Announces Update in Operations for Q1 2008
2008年3月15日 - 12:35AM
Marketwired
DALLAS, TX (FRANKFURT: PHV) announces increased production of an
average of approximately 10% over the last month, after rework of
two additional re-activated wells. In addition it has begun the
process of interviewing qualified geology and engineer firms for
its additional reserve evaluation estimates; the additional work is
for the new properties unaccounted from the last reserve report.
Pilgrim continues to complete the design for extensive 9 wells on
the Archer County area for July 2008.
Pilgrim Petroleum Corporation Vice President of Operations Jerry
Schilling said, "Pilgrim's Reactivation Program has shown
significant progress since its implementation; operations will
continue to bring back more inactive wells into production and
optimize our existent oil & gas production through reduced
production cost, improved production rates and increased ultimate
recovery."
About Pilgrim Petroleum Corporation
Headquartered in Dallas, Texas, Pilgrim Petroleum Corporation is
a publicly traded company (PGPM). The company is acquiring oil and
gas leases, producing properties, mineral rights and surface
interest's primary on marginal fields. Once acquired, the company
intends to develop each property to maximize the income from each
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: Eddie Monet 619-864-0166 www.apetroleum.com
Pilgrim Petroleum (CE) (USOTC:PGPM)
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