Pilgrim Petroleum Signs LOI for Cowan Project With Frontier Energy

DALLAS, TX (FRANKFURT: PHV) today announced they signed a Letter of Intent ("LOI") with Frontier Energy (PINKSHEETS: FRGY) to purchase 100% Working Interest and 40% royalty interest in Cowan Project located in Archer County, Texas, from Pilgrim Petroleum, the property is situated along the eastern edge of the West (KMA) field, which has produced millions of barrels of oil from the KMA sand at 4,200' since the 1940s.

The transaction will be subject to American Petroleum Corp. reservation of 1/8 Overriding royalty. The company will be the operator and the drilling contractor for the exploration of two new wells and few workover on the property.

The Letter of Intent includes provisions whereby the two parties will use their best efforts to move forward to execute and deliver a definitive purchase & sale agreement within few days. Additional information will be forthcoming as it becomes available.

About Pilgrim Petroleum Corporation.

Pilgrim Petroleum Corporation (PINKSHEETS: PGPM) (FRANKFURT: PHV) is an independent oil and gas company based in Irving, Texas. The company is acquiring oil and gas leases, producing properties, mineral rights, and surface interests primary 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.

About Frontier Energy Corporation.

Frontier Energy Corporation (PINKSHEETS: FRGY) is an exploratory oil and gas business headquartered in Las Vegas, Nevada. The goal of Frontier Energy is to build a solid portfolio of assets through the acquisition of leases and explore and develop the opportunities on the individual leases.

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.

2008 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.

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CONTACT: Pilgrim Petroleum Corporation Eddie Monet 619-864-0166 www.apetroleum.com

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