Pilgrim Petroleum Corporation Announces New Record in Production
02 Août 2006 - 12:30PM
Business Wire
Pilgrim Petroleum Corporation, (Pink Sheets: PGPM) announces that
the company has achieved a new record in production for the month
of July, an increase of over 20% from the previous month. The
increase is the result of more wells in line. These figures will
contribute to a new potential record on production for this
quarter. Pilgrim Petroleum will be targeting new prospects with a
low level of risk starting next month. Pilgrim Petroleum
Corporation Vice President of Operations Jeffrey Fanning said, "Our
operational performance for the month well exceeded our
expectations and our previous guidance, yet we look forward to
maintaining our growth for some time as oil prices increase." About
Pilgrim Petroleum Corporation Headquartered in Irving, Texas,
Pilgrim Petroleum Corporation is a publicly traded company (PGPM).
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. 2006
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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