PGPM Pilgrim Petroleum Corporation (CE)

Pilgrim Petroleum Corporation (Pink Sheets: PGPM), is pleased to announce they are aggressively pursuing the listing on the Frankfurt Stock Exchange in Germany. The Frankfurt Stock Exchange is one of the world's largest trading centers for securities and it is the largest of the eight German stock exchanges. This leading exchange facilitates advanced electronic trading, settlement and information systems. The advanced technology enables the exchange to meet the steadily growing requirements of cross-border trading. In addition to traditional floor trading, it has one of the leading electronic trading platforms in the world known as Xetra(R). Rafael Pinedo, Pilgrim Petroleum Corporation's president, said, �Pursuing the listing on the Frankfurt Stock Exchange is another milestone in our long-term growth strategy. With a strong interest in oil and gas projects among European companies and investors, the FWB listing will increase the Company's visibility and extend our playing field by reaching into the European market. Trading in both the United States and Germany will provide Pilgrim Petroleum additional opportunities to the next level of commercial development." Final approval should be announced within the next week. ABOUT THE FRANKFURT STOCK EXCHANGE (FWB). FWB�Frankfurter Wertpapierb�rse (Frankfurt Stock Exchange) is one of the world's largest trading centers for securities. Operated by the Deutsche B�rse AG, FWB is the largest of the eight Germany stock exchanges. The Deutsche B�rse's products and services portfolio cover the entire process chain including securities and derivatives trading, transaction settlement, the provision of market information, as well as the development and operation of electronic trading systems. For more information, visit the Deutsche B�rse at: http://deutsche-boerse.com. 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 effects 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.