Pilgrim Petroleum Announced Today LOI Acquisition of Leases in Canada

Pilgrim Petroleum Announced Today LOI Acquisition of Leases in Canada

Pilgrim Petroleum Corporation and its alliance with Huizhou Engineering Co. Ltd and SEWAN Ltd; the Alliance named GHS Energy along with General Energy will have access and general presence in Canada and China for oilfield services properties and royalty owners. 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 and grow more asset value to Pilgrim Petroleum.

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: “Pilgrim Petroleum and its affiliates’ strong competitive advantage brings additional assets and revenues.”

About Pilgrim Petroleum Corporation.

Pilgrim Petroleum Corporation (Pink Sheets:PGPM – News; FWB:PHV) 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.

2007 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 Corporation Eddie Monet, 619-864-0166


Source: Pilgrim Petroleum Corporation

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