PGPM Pilgrim Petroleum Corporation (CE)

Pilgrim Petroleum (Pink Sheets:PGPM) comments on General Energy Corporation and its alliance with Huizhou Engineering Co. Ltd and SEWAN Ltd to develop and manufacture land and offshore workover rig equipment and portable trailer drilling rigs. The Alliance named GHS Energy will have access and general presence in Canada and China for oilfield services. General Energy will have access to high quality rigs and low cost technical resources expertise. Pilgrim Petroleum has not and will not make any type of payment to make this happen. The parties involved on the new alliance have come together in a mutual interest to cooperate and openly share strategic position on the oilfield services market. Pilgrim Petroleum Corporation�s Chief Executive Officer, Rafael Pinedo said: �GHS Energy will contribute with Pilgrim Petroleum to develop exploration and production opportunities in Canada and Asia.� He also added: �By leading this new alliance, I will make sure, Pilgrim Petroleum and its affiliate�s strong competitive advantage and bring additional revenues.� About Pilgrim Petroleum Corporation. Pilgrim Petroleum (Pink Sheets:PGPM) Corporation is an independent oil and gas company based in Irving, 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. 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. Pilgrim Petroleum (Pink Sheets:PGPM) comments on General Energy Corporation and its alliance with Huizhou Engineering Co. Ltd and SEWAN Ltd to develop and manufacture land and offshore workover rig equipment and portable trailer drilling rigs. The Alliance named GHS Energy will have access and general presence in Canada and China for oilfield services. General Energy will have access to high quality rigs and low cost technical resources expertise. Pilgrim Petroleum has not and will not make any type of payment to make this happen. The parties involved on the new alliance have come together in a mutual interest to cooperate and openly share strategic position on the oilfield services market. Pilgrim Petroleum Corporation's Chief Executive Officer, Rafael Pinedo said: "GHS Energy will contribute with Pilgrim Petroleum to develop exploration and production opportunities in Canada and Asia." He also added: "By leading this new alliance, I will make sure, Pilgrim Petroleum and its affiliate's strong competitive advantage and bring additional revenues." About Pilgrim Petroleum Corporation. Pilgrim Petroleum (Pink Sheets:PGPM) Corporation is an independent oil and gas company based in Irving, 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. 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.