Platina Energy Group to Double Production in Kentucky by End of March
CHEYENNE, Wyo., March 11, 2008 /PRNewswire-FirstCall via COMTEX/ -- Platina Energy Group, Inc. (PLTG), (Frankfurt: O5Y.F) reports that management expects to increase production on the Kentucky field by the end of March 2008. The Company had previously reported operational profitability on this prospect starting last month. Although the field is underway to be a model for future developmental activity by the Company, the primary focus is to further validate valuable proven reserves.
Corporate strategy continues to focus on the accumulation of proven and proven producing reserves allowing potential investors the leverage of the physical commodity for which its lease acreage controls. Further reserve studies and updated reports of existing paperwork are being compiled and will be available over the next couple of months.
About Platina Energy Group
Platina Energy is an environmentally responsible, fast growing E&P strategic reserve 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.
Contact Information:Platina Energy Group Blair Merriam 307.637.3900 InvestorRelations@PlatinaGroup.com http://www.PlatinaEnergyGroup.com
RISK/SEC DISCLAIMER
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 and involves risks and uncertainties, which 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 and 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, which may require performance by the lessee. This could result in loss of future rights and underlying assets.
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