Addison, TX, June 30, 2017 (GLOBE NEWSWIRE) — Pilgrim Petroleum Corporation (PGPM), an oil and gas exploration development (E&D) company focus in proven fields exploited by well managed independent oil companies extracting reserves at lower risk and lower cost than unproved prospects. Our parent is Pilgrim Petroleum PLC, a private company (E&P), focus in domestic and international areas where major oil and gas producing companies have reduced their exploration efforts in search of larger reserves.
The SECs order alludes to information related to proper accounting and information disclosure, which the Company has no control over but only our accountants can address specific going concern and opinion in regards assets and retain earnings, moreover any changes in the current financials has to be address on the Audit process. The Company has reached out to the SEC and cooperating to the fullest extent in this matter. We feel compelled to communicate with our shareholders in this instance so they are made aware of the circumstances surrounding the suspension. The Company would like to reiterate that, neither the Company, its officers, directors and, its controlling shareholders have directly or indirectly, authorized or been involved in any way, or the making of any false or misleading statements about the Company.
The suspension will be lifted on morning, July 14th, 2017. The Company recommends that all current and future investors discuss the appropriate steps with their brokers to trade in the Grey Market, until the proper SEC filing for registration take place and is approved. The Company is considering all possible steps to continue the ongoing operations forward based on potential funding opportunities that are currently available, on any matters prior to the suspension, the changes related to management and ongoing operation efforts announce yesterday on the press release has nothing to do with today’s suspension of the stock, our company and operations including other activities already disclosed to the market, will not be impacted with this event, commented Samuel Carl Smith, CEO of Pilgrim Petroleum Corporation. We will inform all our shareholders, on events and activities related to our company via website and to our Investor Relations contact.
Legal Notice Regarding Forward-Looking Statements:
This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections.
About Pilgrim Petroleum Corporation.
Headquartered in Addison, Texas, Pilgrim Petroleum Corporation is a publicly traded company (PGPM). Pilgrim Petroleum Corporation is an independent oil and gas company. The company is acquiring oil and gas leases, producing properties, mineral rights, and surface interests. Once acquired, the company intends to develop each property to maximize the income from each property by refurbishing and improving the existing production.
Forward Looking Statements:
can give no assurance that such expectations will prove to be correct. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. Factors that could cause the company’s actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to: The success of the company’s exploration and development efforts; the price of oil, gas and other produced gasses and liquids; the worldwide economic situation; changes in interest rates or inflation; the ability of the company to transport gas, oil and other products; the ability of the company to raise additional capital, as it may be affected by current conditions in the stock market and competition in the oil and gas industry for risk capital; the company’s capital costs, which may be affected by delays or cost overruns; cost of production; environmental and other regulations, as the same presently exist or may later be amended and the company’s ability to identify, finance and integrate any future acquisitions. You are urged to carefully review and consider the cautionary statements and other disclosures. Forward-looking statements speak only as of the date of the document in which they are contained, and Pilgrim Petroleum does not undertake any duty to update any forward-looking statements except as may be required by law. 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.
2017 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.
CONTACT: Shareholder inquiries: [email protected]