Pilgrim Petroleum Appoints Veteran Oil Executive as E & P Consultant

DALLAS, TX (FRANKFURT: PHV) is pleased to announce the appointment of Calvin Smith as E & P Consultant and Equity analyst of the Company. Mr. Smith brings over 32 years of experience in Production Reserve Growth, Discount to net asset value (NAV) -- among others. He has served as Vice President of DMR Capital, a private equity fund company, for 10 years. Under his leadership, consolidated ownership and increased shareholder value on a few small and mid cap public companies particularly companies on the same current stage of Pilgrim Petroleum. In related news, we are appointing a Geologist consultant. His particular expertise in land title and acquisition will be beneficial to consolidate other productive fields in the Palo Pinto Basin of Texas and near to our current properties as an inexpensive way of new acquisitions. Lastly, the board of the directors is currently reviewing different dividend options for holders of common stock to be payable at the end Q2 of this year.

About Pilgrim Petroleum Corporation

Headquartered in Dallas, Texas, Pilgrim Petroleum Corporation is a publicly traded company (PINKSHEETS: PGPM) (FRANKFURT: PHV). 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 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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から 4 2024 まで 5 2024