Pilgrim Petroleum Appoints Veteran Oil Executive as E & P Consultant
15 April 2008 - 3:33PM
Marketwired
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
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