Pilgrim Petroleum Corporation Reports Second Quarter 2008 Results
31 Juli 2008 - 7:15PM
Marketwired
DALLAS, TX (FRANKFURT: PHV) is pleased to announce its financial
results for its six months ended June 30, 2008. Pilgrim's Net
Revenues for the year totaled $64,453 compared with $42,255 during
second quarter last year, an increase of 53%. On the other hand,
operating expenses reported an increase of 100% approximately from
$64,164 to $144,043 compared to last year's results. The increase
in operating expenses was primarily due to the increase in
administrative and operational costs and infrastructure.
Pilgrim's detailed financial statements can be viewed at
http://www.bpetroleum.com and will be also available at
http://www.pinksheets.com.
About Pilgrim Petroleum Corporation:
Pilgrim Petroleum Corporation (PINKSHEETS: PGPM) (FRANKFURT:
PHV) is an independent oil and gas company based in Dallas, 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.
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: Pilgrim Petroleum Corporation Eddie Monet 619-864-0166
www.apetroleum.com
Pilgrim Petroleum (CE) (USOTC:PGPM)
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