SOURCE: PGI Energy

PGI Energy

August 02, 2011 12:24 ET

PGI Energy Letter to Shareholders

HOUSTON, TX--(Marketwire - Aug 2, 2011) - PGI Energy, Inc. (PINKSHEETS: PGIE)

PGI ENERGY, INC. would like to thank all of its shareholders for your continued support of the company, its vision and business plan. We are excited to see such overwhelming support from the market. We welcome all our new shareholders to the PGI family, as we believe in aligning management interest with those of our shareholders as majority owners of the company. We would like to take this opportunity to present this state of the company address regarding recent developments.

In light of the significant liquidity in our stock we consider our new IR campaign a success and intend to fully extend the program with ISG for six months. We have had discussions with them about expanding our market reach with the campaign and have agreed to put up additional funds for the campaign expansion.

We would like to announce we have received a major purchase order for 50 drilling rigs from Intertorco Europe S.A. to be used in the oil fields blocks they own in Sudan. The drilling rigs will be purchased from PGI Manufacturing & Engineering. We are in the processing of pricing out the order with our designer and fabricator BGI Contractors today. This represents a significant milestone for us in our drilling rigs construction business. This order represents in excess of $800mil. purchase order.

We would like to announce that we are in negotiations of terms for funding the company acquisition targets with institutional investors and will provide an update as soon as terms are worked out.

Further, our Chief Investment Officer Mr. Gandy will be presenting at a road show to investors in Boca Raton, Florida next week to raise capital for the company.

We have taken steps with OTC Markets to remove the limited information yield sign from their site to complete disclosure status to provide greater transparency to our shareholders. We are very aggressive right now in our approach to building the next big energy company!

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.

For more information visit: WWW.PGIEnergy.us or Email: ir@pgienergy.us

Contact Information

  • Contact
    Media & Investor Relations Contact:
    832-900-1400
    PGI Energy, Inc.
    Jose I. Colon