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Article Excerpt M2 PRESSWIRE-28 February 2007-Stockwire.com: Speak with other shareholders about: (OTC:PGPM), (OTCBB:MGEN), (OTC:RVTI), (OTCBB:SLWF), (OTCBB:PLRS)(C)1994-2007 M2 COMMUNICATIONS LTD
RDATE:28022007
AUSTIN - A very interesting indicator to look for is where the money is flowing into. We have a filter that we watch every morning that shows us "Dollar Volume". Here are a few of these stocks: Pilgrim Petroleum Corporation (OTC:PGPM), Med Gen Inc. (OTCBB:MGEN), Rival Technologies Inc. (OTC: RVTI), Seamless Wi-Fi, Inc. (OTCBB: SLWF), Pluristem Life Systems, Inc. (OTCBB:PLRS)
Have you ever watched a STOCKUMENTARY? http://www.stockwire.com .
For an in-depth look at PGPM:
http://www.stockwire.com/detailed/analysis.php?company=PGPM .
Talk to other PGPM shareholders by clicking the following link: http://www.stockwire.com/talkback?PGPM .
Pilgrim Petroleum Corporation (OTC: PGPM) (FWB: PHV) is pleased to announce the benefits of the strategic fit relationship with General Energy Corporation. The recently signed Letter of Intent to purchase 80% of Pilgrim's working interest's highlights opportunities for cost sharing, skill transfer and enhanced corporate performance. General Energy, a Texas Railroad Commission fully-bonded operator, has been working and supporting Pilgrim Petroleum to comply with RRC's regulations and to re-establish oil production on inactive leases. Since 2006, both companies have been building a great and successful business relationship. General Energy's intent to purchase Pilgrim's working interest in its North Texas positions will contribute by opening up new acquisitions objectives, exposure to private equity and by begining the first phase of an exploration and drilling program among other things. Financial Highlight: Based on the total price of the transaction, $41,640,000. At the end of the transaction, Pilgrim will record a gain on sales of $35,230,800 in retained earnings after deductions on asset investments and deferred income taxes. Likewise, Pilgrim will maintain its "free of Debt" condition, while sharing the costs and risks of its exploration program. Operational Level Highlight: General Energy's access to high quality rigs and low cost technical resource expertise will contribute by maximizing savings and boosting the expected timing of drilling and completion in Pilgrim's lease positions. The first phase of the North Texas Drilling Program is expected to access over $102,370,000 in probable reserves and over 1.8 million barrels of oil potentially recoverable and economic. Mapping and 3D seismic surveys on Pilgrim's two largest positions are expected to commence...
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