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Article Excerpt
M2 PRESSWIRE-31 August 2006-TradersWorks.com: Hot news, market movers & gainers -PGPM, UCOI, GRMU, XCO August 31, 2006(C)1994-2006 M2 COMMUNICATIONS LTD
RDATE:31082006
Dallas, Texas - TradersWorks today Pilgrim Petroleum Corporation, (OTC:PGPM); Unico, Incorporated (OTCBB:UCOI); GREM USA (OTCBB:GRMU); EXCO Resources Inc. (NYSE:XCO)
Investors, day traders and the financial community follow most recent developments today.
Pilgrim Petroleum Corporation, (OTC:PGPM) announces that the company has achieved a new record in production for the month of August, an increase of over 15% from the previous month with an additional eight re-activated wells in line. This constant increase in production leads Pilgrim to anticipate exponentially better results for the next coming month. Furthermore, new acquisitions talks and negotiations are in progress, while the evaluation of the company's properties is completed. Gustavson Associates informed that the report could be expected by next week, with the final and formal report expected by the week of September 11th. This delay is due to the last acquisition. Lastly, the addition of General Energy Corporation as operator, and the potential value of new exploration participation in Quebeq Canada are two additional highlights. Pilgrim Petroleum Corporation Vice President of Operations Jeffrey Fanning said, "The Reactivation Program has undoubtedly boosted the company's production levels and we will continue to re-activate the remaining properties, while Pilgrim further grows its asset portfolio." Stock price: 0.04 on 814,079 shares...
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