DALLAS, TX, Jun 19, 2008 (MARKET WIRE via COMTEX) -- Platina Energy Group, Inc.
(OTCBB: PLTG), (FRANKFURT: O5Y) reports as of the close of business on Thursday,
June 19, 2008, more gas wells have been connected to the pipeline for purchase
by a major supplier.
Blair Merriam, President of Platina stated, "Combined production should range in
the 750-1000 mcf/day. At current gas pricing, annualized revenue run-rate should
rise to exceed $4,000,000+ from the new connections by the end of June. We are
only part way done with our present developmental program in Kentucky, but
expect to enjoy cash flows beginning in July and a healthy revenue stream from
these wells for years to come."
According to Joel Patton, field management for Platina, "We've been working at
top speed to get these wells on line in Kentucky as in addition to our Tennessee
field. We're very excited about the revenues that these wells will deliver as
both areas have long histories of consistent production."