PGPM Pilgrim Petroleum Corporation (CE)

General Energy Corporation, with offices in Dallas, Texas, and Montreal, Quebec, today announces a strategic alliance with Huizhou Engineering Co. Ltd and SEWAN Limited, both of China, to develop and manufacture land and offshore workover equipment and portable trailer drilling rigs. Both of these companies have successfully acquired contracts in Southeast Asia, China and England. The alliance will be named GHS Energy, with a main office in Montreal, and will be lead by managing director Rafael Pinedo. General Energy Corporation is a direct affiliate of Pilgrim Petroleum Corporation (Pink Sheets: PGPM), lead by President and Chief Executive Officer Rafael Pinedo. Effective immediately, GHS Energy will begin marketing services in Canada and in the United States early next year. Mr. Pinedo said, "We are very pleased to have interest in such an outstanding joint venture with great value in cost of drilling, loss of production, manpower, safety and reliability.� About General Energy Corporation General Energy Corporation is a privately held Delaware corporation with offices in Dallas, Texas, and Montreal, Quebec. The company is an oil & gas operator and oilfield machinery servicer, including drilling and workover operations. About Pilgrim Petroleum Corporation. Pilgrim Petroleum (Pink Sheets:PGPM) Corporation is an independent oil and gas company based in Irving, Texas. The company acquires oil and gas leases, producing properties, mineral rights and surface interests primarily on marginal fields. Once acquired, the company intends to redevelop each property to maximize the income from each property by refurbishing and improving the existing production. Forward-Looking Statements: 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. 2006 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. General Energy Corporation, with offices in Dallas, Texas, and Montreal, Quebec, today announces a strategic alliance with Huizhou Engineering Co. Ltd and SEWAN Limited, both of China, to develop and manufacture land and offshore workover equipment and portable trailer drilling rigs. Both of these companies have successfully acquired contracts in Southeast Asia, China and England. The alliance will be named GHS Energy, with a main office in Montreal, and will be lead by managing director Rafael Pinedo. General Energy Corporation is a direct affiliate of Pilgrim Petroleum Corporation (Pink Sheets: PGPM), lead by President and Chief Executive Officer Rafael Pinedo. Effective immediately, GHS Energy will begin marketing services in Canada and in the United States early next year. Mr. Pinedo said, "We are very pleased to have interest in such an outstanding joint venture with great value in cost of drilling, loss of production, manpower, safety and reliability." About General Energy Corporation General Energy Corporation is a privately held Delaware corporation with offices in Dallas, Texas, and Montreal, Quebec. The company is an oil & gas operator and oilfield machinery servicer, including drilling and workover operations. About Pilgrim Petroleum Corporation. Pilgrim Petroleum (Pink Sheets:PGPM) Corporation is an independent oil and gas company based in Irving, Texas. The company acquires oil and gas leases, producing properties, mineral rights and surface interests primarily on marginal fields. Once acquired, the company intends to redevelop each property to maximize the income from each property by refurbishing and improving the existing production. Forward-Looking Statements: 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. 2006 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.