HOUSTON, TX — (Marketwire) — 08/26/11 — (PINKSHEETS: PGIE) through its joint venture with , now commonly known as , 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.
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
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Contact Media/PR PGI Energy, Inc. Jose I. Colon 832-900-1400
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