PGI Energy

August 26, 2011 05:01 ET

PGI Energy $68 Million Sales Contract

HOUSTON, TX--(Marketwire - Aug 26, 2011) - PGI ENERGY, INC. (PINKSHEETS: PGIE) through its joint venture with Structural Dynamics Engineering, now commonly known as PGI MANUFACTURING & ENGINEERING, receives commitment to purchase eight drilling rigs. PT Rebana Energi Corpindo of Malaysia agreed to buy four 1,000 HP drilling rigs and four 750 HP drilling rigs, which requires a 45% down payment. PGI Energy will receive 50% of the net profits derived from this sale. We are currently negotiating a number of major drilling rig orders which will generate significant revenues for the company, thus increasing shareholder value.

About us
PGI Energy, Inc. is an energy holding company, headquartered in Houston, Texas. The company's purpose is to acquire assets in the proven producing oil, gas assets, refinery, pipeline sectors of the energy industry and other synergistic assets.

PGI has formed several partnerships to grow its core business organically through strategic alliances diversifying its interest in green energy through biomass production, waste to energy, wood pellets production, syn gas, bio char production and plastics to synthetic crude. PGI has several core divisions which provide support to its operations and customers such as PGI Transportation & Logistics, PGI Manufacturing & Engineering, PGI Green E & P and PGI Commodities Trading.

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    PGI Energy, Inc.
    Jose I. Colon

    IR Firm:
    Brass Financial LLC
    14 Wall Street, 20th Floor
    New York, NY 10005