This unknown, unexplored land mass is just waiting for someone to find all it has in store. We, The Travelers, are attempting to map this large world, but we can not do it alone. If you would be willing to donate the land portions of your turn to our efforts, we will be collecting that data and sending out maps to our contributitors. We also collect land claims and lore information. Well, you could start by reading the rules.
Pitch is used for repairing ships.
As for pipeweed, I'm not sure. It's most likely used either for some obscure magical rite, or for trading. You can finish studying them anywhere. I got a few questions to the EVIL answer-gay. As undead are not beasts, you do not need beastmastery to fight with them.