Pilgrim Petroleum Closes Private Placement

Pilgrim Petroleum Corp. has agreed to sell 11 million shares of its common stock to Energy Source Private Equities Fund from Toronto, Canada and TJ Management Group with offices in Texas, New York, California, at an average 10 cents per share for a total of $500,000. Both companies are Institutional Investors on the Energy sector, which is a positive opportunity for Pilgrim Petroleum to qualify additional large Investment Institutions once it begins fully reporting.

Rafael Pinedo, Pilgrim Petroleum president and CEO said, "Great value and confidence bring Institutional Investors to any public corporation, we are pleased to have these groups on board."

Pilgrim Petroleum Corp. is a publicly traded, independent oil and gas company based in Irving, Texas. The company is acquiring oil and gas leases, producing properties, mineral rights, and surface interests in Texas. Once acquired, the company intends to develop each property to maximize the income from each property by refurbishing and improving the existing production.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Assistant Treasurer
Expertise: Accounting|Financial Analyst
Location: Houston, TX
Financial Analyst - Finance and Investor Relations
Expertise: Accounting|Financial Analyst|Legal
Location: Dallas, TX
United States Houston: Materials Control Specialist
Expertise: Materials Management |Project Controls
Location: Houston, TX
search for more jobs

Brent Crude Oil : $50.75/BBL 0.09%
Light Crude Oil : $47.73/BBL 0.50%
Natural Gas : $3.05/MMBtu 0.97%
Updated in last 24 hours