CHEYENNE, Wyo., June 6 /PRNewswire-FirstCall/ -- Platina Energy Group, Inc. (OTC Bulletin Board: PLTG - News), (Symbol Frankfurt: 05Y.F), (Symbol Berlin: 05Y.BE), (Symbol Xetra: 05Y.DE) (Symbol Stuttgart: 05Y.SG) is pleased to announce that it has re-entered several of its existing wells on the Young County prospect. These wells are now producing on a test basis to determine ongoing production forecasts. Although it is too early to report, the Company is very excited about this prospect. Actual production data will be released once management completes the initial test phase.

Blair Merriam, the CEO of Platina states, "We are very excited to make this announcement, but we are also looking forward to making a series of announcements on a weekly basis regarding our progress over the next few months. We are making great strides to increase shareholder value and production through acquisitions and core growth."

About Platina Energy

Platina is an E & P company that owns several oil and gas prospects in Continental North America. Platina plans to develop these resources as strategic funding alliances permit, as well as enhance its existing portfolio with further acquisitions of oil and gas leases. Additionally, Platina owns rights to a German inspired, proprietary oil recovery technology that delivers cost effective recovery of heavy oil at a fraction of the current costs.

Contact: Blair Merriam, Chairman & CEO Platina Energy Group, Inc. (OTC Bulletin Board: PLTG - News; DRB: 05Y - FRA) Phone: 307-637-3900 ir@platinagroup.com Web Site: http://www.platinaenergygroup.com

SEC DISCLAIMER

Information contained herein may contain forward-looking statements which are not guarantees of future success or that there cannot be losses. The actual presence or recoverability of reserves for optimal and timely recovery, well costs or schedules or other matters cannot be promised. This release contains "Safe Harbor" provisions of the US Private Securities Litigation Reform Act of 1995 & involves risks and uncertainties, which could cause actual results to differ materially from those estimated herein.

Platina Energy believes the forward-looking statements are based on current reasonable assumptions but can give no assurance that results will be achieved. Unpredictable & unanticipated risks, trends and uncertainties including inability to accurately forecast operating results; the potential inability to achieve profits or have cash flow; access to financing; and other must be understood. Platina Energy assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

 

 

Und für alle die mehr wissen wollen hier mal die HP von denen.

http://www.platinaenergygroup.com/

 

CHEYENNE, Wyo.--(BUSINESS WIRE)--Platina Energy Group, Inc. (OTCBB: 

Dear Shareholder,

We'd like to update our loyal shareholders as to the latest events, resulting from the recent market turmoil, which was instigated by a rash of short selling. To summarize our news releases commencing on April 1, we devised a plan which we have been executing, that includes a multi-faceted approach.

Strategic acquisitions have now been translated into proven reserves thereby giving the Company an asset return on investment many times in excess of its cost basis, according to expert evaluation reports.

The Company has strategically enhanced its asset base in anticipation of production revenues, with tax loss carry forwards, particularly as they appear in the most recent quarter. Most importantly, operational losses were nominal, and in line with projections.

The Company is pleased to report that it has secured joint venture financing in the aggregate amount of $23,000,000.00 for its current two proven organic oil and gas production prospects. These financing commitments were the result of an equity investment, and did not involve floating PLTG share issuances or share pricing.

In addition to the increased revenues from the proven reserves, and lucrative operating agreements, the Company has negotiated a carried interest of 25% in the operations. Up to $6 million will be spent in development on the Company's behalf with no risk or outlay.

As part of an enhanced income strategy the Company has entered into an agreement to syndicate its carried interests through a reduced tax base investment program. The Company will increase profits throughout fiscal 2007, while generating additional income from high yield investor note profits. The bottom line to the Company is accelerated earnings for 2007 and beyond.

The implementation of these systems is expected to increase revenues by several million dollars for this year.

Although management is confident that earnings will reflect changing models such as those currently underway, there are inherent risks in the oil and gas business that could affect profits including: substantially lower energy prices; weather obstacles; equipment shortages; unforeseen business interruptions.

Any of the foregoing events are legitimate concerns which could affect the company for which investors should be aware.

In the second fiscal quarter for 2007, we will be reporting first revenues from production which will demonstrate our trend toward operational profitability perhaps as soon as the current quarter but most expectedly by the third quarter.

Sincerely,

Blair Merriam

About Platina Energy Group

Platina is an E & P company that owns several oil and gas lease properties in Texas and Tennessee. The Company is currently producing oil in one field. It also owns leases for which it is obtaining drilling permits. The Company also has an additional 20,000 acres under varying lease terms in Palo Duro Basin. Platina owns rights to a German inspired, proprietary oil recovery technology that allows for the cost effective recovery of untapped reserves.

SEC DISCLAIMER

Information contained herein may contain forward-looking statements which are not guarantees of future success or that there cannot be losses. The actual presence or recoverability of reserves for optimal and timely recovery, well costs or schedules or other matters cannot be promised. This release contains "Safe Harbor" provisions of the US Private Securities Litigation Reform Act of 1995 & involves risks and uncertainties, which could cause actual results to differ materially from those estimated herein.

Platina Energy believes the forward-looking statements are based on current reasonable assumptions but can give no assurance that results will be achieved. Unpredictable & unanticipated risks, trends and uncertainties including inability to accurately forecast operating results; the potential inability to achieve profits or have cash flow; access to financing; and other must be understood. Platina Energy assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events. As with all oilfield leases, certain terms and stipulations require obligations of the lessee including developmental milestones or there may be the risk of loss of future leasehold rights and underlying assets.