Business News

Platina Energy Group Reports Over $500 Million in Reserves


Platina Energy Group, Inc.

2008-07-15 15:05:00

DALLAS, TX–(EMWNews – July 15, 2008) – Platina Energy Group, Inc. (OTCBB: PLTG)

(FRANKFURT: O5Y) releases independent reserve report data quantifying its

holdings in Kentucky and Tennessee for net oil and gas reserves. According

to the report, the specific net recoverable quantities are 1.85 million

barrels of oil and 24BCF of natural gas. At present pricing, this

represents a value well in excess of $500,000,000.00.

“This is probably the most significant news that the Company has ever

released. Although we have other reserve report estimates on other fields

that total another $100 or more million, this particular report is

extremely conservative based on what we are recovering on the Kentucky

field at the moment. We think that the actual reserves could be much

higher, but it is too early to tell,” stated Blair Merriam, President of

Platina Energy Group.

Production in Kentucky continues to rise at a rapid rate as a result of the

recent drilling activity.

About Platina Energy Group

Platina Energy is a fast growing E&P Company. Since organization in 2005,

it has acquired proven producing and proven non-producing reserves in

addition to other possible reserves. The Company also owns rights to

German Inspired oil extraction technology. The Company continues to be

aggressive in acquiring new and existing producing fields.


Information contained herein contains forward-looking statements; not

guarantees of future success.

The presence or recoverability for optimal/timely reserves, costs,

scheduling, etc., cannot be promised. This release contains “Safe Harbor”

provisions of the US Private Securities Litigation Reform Act of 1995 &

involves risks and uncertainties, that could cause actual results to differ

materially from those estimated herein.

Platina Energy believes the forward-looking statements to be based on

reasonable assumptions however, no assurances are made. Unpredictable &

unanticipated risks, trends, potential unprofitability, cash flow

impairments, access to financing, and other risks must be understood.

Platina Energy assumes no obligation to update or supplement

forward-looking statements that become untrue because of subsequent events.

Issuances of shares for acquisitions, settlements or services may dilute

future earnings.

Oilfield leases, contain certain terms and stipulations, often

developmental or financial, that may require performance by the lessee.

This could result in loss of future rights and underlying assets.

Contact Information:
Platina Energy Group
Blair Merriam

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