NEW YORK, NY–(EMWNews – August 8, 2008) – Platinum Energy Resources, Inc. (“Platinum

Energy”) (OTCBB: EMWNews.com/mw/http://finance.yahoo.com/q?s=PGRIU”>PGRIU) (OTCBB: PGRI) (OTCBB: EMWNews.com/mw/http://finance.yahoo.com/q?s=PGRIW”>PGRIW) today announced that

its registration statement on Form S-1 registering the distribution by

Tandem Energy Holdings, Inc. of shares of Platinum Energy’s common stock to

its shareholders was declared effective by the Securities and Exchange

Commission on August 7, 2008. Platinum Energy expects the physical

delivery of those shares to commence next week.

On October 26, 2007, Platinum Energy acquired substantially all of the

assets of Tandem, an independent oil and gas exploration and production

company located in Midland, Texas, in exchange for 7,692,308 shares of

Platinum Energy’s common stock and the repayment of certain Tandem

indebtedness. Tandem was dissolved on June 24, 2008 and as part of its

dissolution and winding up of its affairs Tandem is distributing the shares

of Platinum Energy common stock it holds to its shareholders. The

registration statement covers the distribution of those shares and the

prospectus included therein will accompany the certificates being

distributed.

This notice is provided for information purposes only, and does not

represent a solicitation or offer to buy or sell any security. A

registration statement relating to these securities was filed with and has

been declared effective by the Securities and Exchange Commission.

This press release shall not constitute an offer to sell or a solicitation

of an offer to buy, nor shall there be any sales of these securities in any

state or jurisdiction in which such an offer, solicitation or sale would be

unlawful prior to registration or qualification under the securities laws

of any such state or jurisdiction.

About Platinum Energy

Platinum, based in Houston, Texas, is an oil and gas exploration and

production company that has approximately 37,000 acres under lease in

relatively long-lived fields with well-established production histories and

is currently engaged in drilling, developing and exploiting these

properties to provide long-term growth in stockholder value. Platinum’s

strategy calls for the use of hedge financing to maximize profit and reduce

risk resulting from volatile energy markets.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning

of the safe harbor provisions of the Private Securities Litigation Reform

Act of 1995. In some cases, forward-looking statements can be identified by

words such as “believe,” “expect,” “anticipate,” “plan,” “potential,”

“continue,” “intend” or similar expressions. Forward-looking statements

also include the assumptions underlying or relating to any of the foregoing

statements. Such forward-looking statements are based upon current

expectations and beliefs and are subject to a number of factors and

uncertainties that could cause actual results to differ materially from

those described in the forward-looking statements. The forward-looking

statements contained in this press release may include statements about

future financial and operating results. These statements are not guarantees

of future performance, involve certain risks, uncertainties and assumptions

that are difficult to predict, and are based upon assumptions as to future

events that may not prove accurate. Therefore, actual outcomes and results

may differ materially from what is expressed herein. In any forward-looking

statement in which Platinum expresses an expectation or belief as to future

results, such expectation or belief is expressed in good faith and believed

to have a reasonable basis, but there can be no assurance that the

statement or expectation or belief will result or be achieved or

accomplished. All forward-looking statements included in this press release

are based on information available to Platinum on the date hereof. The

following factors, among others, could cause actual results to differ from

those set forth in the forward-looking statements: volatility of oil and

gas prices, the need to develop and replace reserves, the substantial

capital expenditures required to fund operations, exploration risks,

uncertainties about estimates of reserves, competition, government

regulation, costs and results of drilling new projects, and mechanical and

other inherent risks associated with oil and gas production; as well as

other relevant risks detailed in Platinum’s filings with the Securities and

Exchange Commission. Platinum does not assume any obligation to update the

information contained in this press release.

Contact: Thomas J. Rozycki, Jr. CJP Communications for Platinum Energy Resources, Inc. Public & Investor Relations 212-279-3115 x208 [email protected]