Tandem Energy Holdings (fka TDYH)

[Mr. Zen]

Tandem Energy Holdings, Inc. Grants Extension to Close Deal with Platinum Energy Resources, Inc.
Feb 15, 2007 3:27:00 PM
Copyright Business Wire 2007
MIDLAND, Texas--(BUSINESS WIRE)--

Tandem Energy Holdings, Inc. ("Tandem") (Pink Sheets:TDYH), today announced that the Asset Acquisition Agreement and Plan of Reorganization between it wholly-owned subsidiary, Tandem Energy Corporation ("TEC"), and Platinum Energy Resources, Inc. ("Platinum") has been modified to extend the date by which the close of the acquisition must occur to March 31, 2007. Concurrently, Platinum has filed an amended Proxy Statement with the Securities and Exchange Commission (SEC) to reflect the extension and to address comments raised by the SEC in its last comment letter.

According to Tim Culp, Tandem's President and Chief Executive Officer, "Both parties are committed to closing the acquisition of Tandems' assets, as long as the process we began early last year continues to move forward toward regulatory approval."

Tandem Energy Holdings, Inc. is an oil and gas exploration and development company based in Midland, Texas. The Company's activities are focused on low-risk properties in Texas and New Mexico.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, about Platinum, the Company and their combined business after completion of the proposed merger. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, based upon the current beliefs and expectations of Platinum's and the Company's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: Business conditions in the U.S. and abroad; changing interpretations of generally accepted accounting principles; outcomes of government reviews; inquiries and investigations and related litigation; continued compliance with government regulations; legislation or regulatory environments, requirements or changes adversely affecting the businesses in which the Company is engaged; fluctuations in oil and gas prices and in customer demand; managing rapid growth; intensity of competition; general economic conditions; as well as other relevant risks detailed in Platinum's filings with the Securities and Exchange Commission. The information set forth herein should be read in light of such risks. Neither Platinum nor the Company assumes any obligation to update the information contained in this press release.

Source: Tandem Energy Holdings Inc.



----------------------------------------------
Tandem Energy Holdings Inc.
Midland
Mickey Cunningham
432-686-7136
[e-mail]