PILGRIM PETROLEUM COM STK USD1 (OTCMKTS:PGPM) Trending Up Since April

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The last time we touched upon PILGRIM PETROLEUM COM STK USD1 (OTCMKTS:PGPM) here at Street Register was earlier this month, at which time we suggested that the stock could be due to rise based on a number of factors.

 

We’re pleased to report that the stock has done just that, as it did in fact trade up from a low of .002 to a high of .0086 subsequent to that article. That came out to an upswing of 330% over a span of just eight trading days, while volume over the same period has been greater than anything the stock had experienced previously.

That excellent move, along with the letter to shareholders released last week, were among a couple reasons why we wanted to go back over PILGRIM PETROLEUM COM STK USD1 (OTCMKTS:PGPM) today.

 

Per that letter, the company communicated that it expects to bring transformative changes to the company, both on the corporate and strategic front this year.

The most significant of which being the plan to enter the exploration and production (E&P) business with its current portfolio and acquire producing assets and improve cost of production.

 

The board of directors believes the current transitional period in petroleum E&P provides exceptional opportunities to apply the company’s M&A and operational expertise to acquire and operate quality assets at low prices.

 

 

As it has done in the past, the company will focus on reserve value creation and asset divestiture to other entities who will pay premiums for reliable and optimized production, such as Master Limited Partnerships (MLPs).

 

The purpose of the letter was to shed light on how PGPM intends to achieve these strategic objectives, milestones, and what wit believes to be its own unique ability to execute on the plans in place. (Source: OTC Disclosure & News Service)

 

The letter also mentioned that the company had finally completed its back filings, and this week it has made them all available to the public. You can find these filings at OTCMarkets.com, which include quarterly and annual reports dating back to 2014. We expect to see OTC Markets remove the Caveat Emptor status from PGPM’s designation and restore charting and quote services to its page at any time now that the company has come current on its reporting.

Now that the company is getting it ducks in a row, so to speak, we’ll be eager to receive further updates on its progress and plans. The domestic oil & gas industry outlook is quite bullish by some accounts.

According to PWC’s ‘Strategy&’ “It’s possible that we might see a spike in oil prices sometime in the next five to 10 years — if, because of the hiatus of investment in major projects since 2014, the industry finds it difficult to meet increasing demand. The resulting uncertainty would no doubt be welcomed by traders, who have largely avoided the oil market during its price plunge. An uptick in trading activity could in itself drive up oil prices significantly in the three- to five-year time frame. Oil and gas companies will need to ensure that their business models are prepared to manage and benefit from this volatility.”

We think that PGPM is taking such steps to capitalize on these trends, and will be interested to continue to follow its story, which is made all the more interesting by the fantastic gains we’ve witnessed in the stock to this point. We urge you to follow the story along with us. Stay locked to Street Register for updates, and we’ll deliver important developments on PGPM as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!

Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in PGPM stock, short or long.

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