Platinum Energy Resources, Inc. Announces Effectiveness of Registration Statement
SOURCE:
Platinum Energy
2008-08-08 11:09:00
Platinum Energy Resources, Inc. Announces Effectiveness of Registration Statement
NEW YORK, NY–(EMWNews – August 8, 2008) – Platinum Energy Resources, Inc. (“Platinum
Energy”) (
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 trozycki@cjpcom.com |
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