PGPM Pilgrim Petroleum Corporation (CE)

DALLAS, March 16 /PRNewswire-FirstCall/ -- Pilgrim Petroleum Corporation (Pink Sheets: PGPM) (FWB: PHV), an independent oil and gas company based in Dallas, Texas, is pleased to announce the reactivation of Scavenger Oil Recovery's services including its Nitrogen Membrane Injection System. The device is deployed in a portable unit, designed to be mobile for use in both "huff and puff" and "dedicated drive" marginal well development scenarios.  The technology has been previously field tested in the North Texas area by Scavenger Oil.  The system produces a 95% to 99% Nitrogen purity level dependant on factors such as external temperatures and feed pressure.  Matt O'Bryant, COO, commented, "One of our competitive strengths is the experience and knowledge to improve operational efficiencies to lower costs and increase profits."  Scavenger Oil Recovery is forecasting significant oil revenue increases by the end of Q3 of 2010 for Pilgrim Petroleum through the use of Nitrogen injection in existing wells. Utilized by major oil companies for several years Nitrogen Membrane Injection technology has proved successful by increasing oil production in various types of oil reservoirs.  Scavenger's processes can typically restore a well close to its original flow rates as well as meet current and future mandates from the EPA on the elimination and reduction of greenhouse gas emissions. Enhanced oil recovery applications are designed to restore reservoir pressure, increase oil production and lower operating costs. The Department of Energy has determined that EOR can add 89 billion barrels to recoverable domestic oil resources.

About Pilgrim Petroleum Corporation

Headquartered in Dallas, Texas, Pilgrim Petroleum Corporation is a publicly traded company (OTC: PGPM.PK) (Frankfurt: PHV.F). The company is acquiring oil and gas leases, producing properties, mineral rights and surface interests primarily on marginal fields, 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.

2010 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. For more information see our website at www.bpetroleum.com or contact our IRFax number at 972-381-0401.

SOURCE Pilgrim Petroleum Corporation