Archive for the ‘Platina Energy Group Inc. PLTG’ Category

Platina Energy Group, Inc. (PLTG.OB) Continues to Apply its Environmentally-Friendly Approach to New Locations

Monday, October 6th, 2008

Platina Energy Group, Inc. (PLTG.OB) is a diversified independent oil and gas exploration and production company based in Dallas, Texas. Through a combination of organic growth and acquisitions, Platina has become one of the fastest-growing domestic exploration and production (E&P) companies. It has been able to build a group of solid assets and cash flow through the application of a number of financing structures utilized in its acquisition and property development phases.

Led by President and CEO Blair Merriam since its inception in 2005, Platina has applied an environmentally and socially responsible approach to its well site remediation. The company owns certain exclusive rights to the Thermal Pulse Unit (TPU), which is a German-inspired oil extraction technology. The use of the TPU results in a significantly lower cost-per-barrel basis for recovery, and improves the potentially recoverable reserve, which might not otherwise be extractable.

“The TPU allows for high pressure and heat to be forced down-hole thereby reducing paraffin deposits and viscosity of oil for better flow rates,” said Dan Thorton, VP of Business Development at one of Platina’s subsidiaries. “Companies involved in this technology understand that the Thermal Pulse Unit device is innovative, yet reliable, because it is made from readily available and proven components.”

Platina recently reported the delivery of a 2500 mcf/day compressor to one of its fields in Kentucky. The site had previously been limited to only 500 mcf/day of natural gas, but the new compressor will allow a dramatic increase of daily capacity. With the introduction of the new compressor, the company will upgrade the initial completions of the new wells and also incorporate full steam into the existing production.

Platina has also recently been able to acquire an additional 1000-acre oil and gas lease in Laurel County, Kentucky. On its original 1,700 acres at the location, the company has already drilled 10 successful wells. At this time, four of the ten wells are fully completed and are producing oil and gas daily. Therefore, the potential of the additional acreage is highly promising. Platina anticipates up to 70 potential well locations will be developed on the property.

The company has established properties in Northeast Tennessee, West Texas, and Central Texas, and is expanding its development efforts into East Texas, Kentucky, Wyoming, and Oklahoma. With some of its sites already in production, Platina will continue to keep a diversified portfolio of geological and geographic sites to ensure that it maintains positive growth for its stockholders.

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Platina Energy Group, Inc (PLTG.OB) Reports Production Run-Rate Estimates To Likely Exceed 50 Barrels Per Day Before April End

Tuesday, March 25th, 2008

Platine Energy Group, an environmentally accountable, rapidly growing E&P strategic reserve company, reported fabrication run-rate estimates across holdings in Oklahoma, Kentucky, Wyoming and Texas. Validation of reserves is further solidified by gross production statistics that will likely go beyond 1,500 barrels per month.

The forecasts are preliminary for oil now being produced in Kentucky, Oklahoma and Texas. Income interests fluctuate but will be further delineated in succeeding SEC filings.

“During a time when the general stock market is under pressure, we are exceeding forecasted performance,” said Blair Merriam, President and CEO of Platina Energy Group, Inc. “Our primary focus remains on the accumulation of reserves. With oil and gas near all time highs, we have incredible hidden proven reserve value behind our stock, positioning Platina as an attractive Company on a fundamental basis.”

Since being organized in 2005, Platina acquired verified producing and non-producing reserves in addition to other probable reserves. The Company also owns rights to German Inspired oil removal technology and continues to be uncompromising in acquiring new and existing producing fields.

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Beacon Equity Research Featured Company: Platina Energy Group, Inc. (PLTG.OB)

Friday, February 1st, 2008

Platina Energy Group, Inc. (PLTG.OB) is a diversified exploration and production company. The company has multiple oil and gas lease properties in North America and has a proprietary enhanced recovery technology. It owns reserves in excess of $60 million and is in the production phases of oil wells in Texas.

The Company was formed in 2005 and has managed or is in the process of acquiring properties in Northeast Tennessee, West Texas, Texas and Oklahoma. Platina is able to diversify its exposure while building assets and cash flow with minimal balance sheet debt leverage or shareholder dilution. It has proven to be one of the fastest growing Companies of its type using a combination of acquisition and organic growth.

The demand for energy resources such as oil and gas has increased due to industrial and technological developments. The Energy Information Administration claims that the average US oil consumption should reach approximately 26.1 million barrels per day by 2025.

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Platina Energy Group (PLTG.OB) Announces Proven Reserves that Exceed $3 Per Share

Thursday, December 27th, 2007

Platina Energy Group, Inc. (PLTG.OB) reported that the company’s estimated proven oil reserves have doubled in value since early 2007. This increase in oil reserve value reflects a potential share appreciation by more than 35%, translating into a fair market price exceeding $3 per share.

Blair Merriam, PLatina’s CEO, stated, “It will be up to the market place and shareholders to determine the hidden potential of the Company’s value and to make informed investment decisions. As reported by the Wall St Journal on Saturday, Oil-price prognosticators, bruised after an unusually volatile spell in the oil patch, have reached a rough consensus on next year: Oil will be even costlier, even if the economy cools.”

Platina Energy is a rapidly growing E&P Company. Since their initial formation in 2005, Platina has pursued various acquisitions and eliminated non-producing reserves, significantly increasing shareholder value as a result. Platina continues to be aggressive in acquiring new and existing producing fields.

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Wall Street News Alert Featured Company: Platina Energy Group, Inc. (PLTG.OB) to Potentially Sign a $16 Million Producing Production Transaction

Friday, November 9th, 2007

Platina Energy Group recently announced that the Company and Bow Energy intend to sign a $16 million producing production transaction on two major leases in Texas. The transaction could be worth tens of millions in revenues for Platina Energy once the agreement has been completed.

Blair Merriam, President of Platina, stated, “This transaction has many moving parts but has evolved from initial discussions, to one that we are quite certain that we will be able to close on. All of the parties concerned have made their best efforts to work together harmoniously and in a professional manner in order to conclude this new piece of business for Platina. In addition to immediate production, developmental opportunities on this acquisition are also vast and will make great future prospects for the Company and its strategic partners.”

Platina is focused on aggressively acquiring drilling properties and related energy assets. Through its subsidiary, the Company owns the rights to a technology for oil recovery and paraffin build-up reduction. The Thermal Pulse Unit is a cost-effective and environmentally friendly solution for enhanced recovery, and provides a significantly lowered cost basis per barrel for recovery without the problems connected with existing technologies. Platina plans to deploy the Unit in its own fields to enhance production in addition to signing joint ventures to commercialize the technology.

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Wall Street News Alert Featured Company: Platina Energy Group, Inc. (PLTG.OB) Announces Acquisition Buying Spree

Tuesday, October 9th, 2007

Platina Energy Group announced today that the management will be announcing several potential acquisitions under joint venture arrangements with various Investor Groups. The company has a good track record of completing potential acquisitions in the past, and is expected to meet its new acquisition goals.

The President and CEO of Platina stated, “We have about completed our due diligence on several producing field opportunities in Texas. Our intention is to make offers on these prospects with our joint venture partners providing the project financing allowing Platina to retain a carried interest for facilitating the acquisitions. According to Chip Langston, head of Platina Exploration Corp., a wholly owned subsidiary, our target is to have net interests from these acquisitions that would yield the equivalent of 500-1000 barrels per day of production to Platina by mid 2008.”

Industrial and technological developments have increased the demand for energy resources. According to the Energy Information Administration, the average US consumption is projected to reach approximately 26.1 barrels per day by 2025. However, most existing oil fields are mature and production from these fields is declining, which has created a need for exploration and development of new properties and workovers of existing wells. This situation provides companies such as Platina Energy Group with plenty of potential to grow.

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StocksJournal Highlights Platina Energy Group, Inc. (PLTG.OB)

Monday, July 23rd, 2007

Platina operates as a publicly-traded holding company for several acquired energy firms and properties. The company plans to minimize risk by holding a diversified portfolio. Through its subsidiaries, the company owns oil and gas leases in Texas, the Appalachian Basin in eastern Tennessee, and in Young County, Texas.

Platina is aggressively acquiring drilling properties and related energy assets. The company recently exercised its option to acquire a major stake in the Hall and Kirkpatrick leases located in Swisher and Hale County, Texas. The acquisition substantially increased its current holdings in the Palo Duro Basinby to approximately 920 acres.

With proven reserves valued in excess of $100 million, StocksJournal believes that Platina shares are significantly undervalued. At a $0.45 share price, Platina is valued at one-tenth the value of the company’s proven reserves.

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Platina (PLTG.OB) Expanding

Wednesday, June 27th, 2007

Ever since the stock market started up, energy and oil companies have been on the forefront of investor interest. After all, any industry that deals so intimately with the resources that drive our society has to be attractive to even the most casual of investors. That’s why Platina Energy Group Inc. (OTCBB: PLTG) is so intent on expanding its resources these days – to attract investors.”Our general overall business mode is that we are aggressively growing and getting ready to develop our leases we’ve acquired over the last year,” Blair Merrian, Platina’s CEO, told MN1. “We drill them and produce oil and gas off of them.”

One property in particular has proven remarkably successful for the company – the property in Young County, Texas. The company recently acquired the property and is keen to develop it further. Platina will be working with a local driller and operator in conjunction with a joint venture funding agreement with Zone Petroleum.

“We brought online five wells that were there when we acquired it, and they’re producing,” Merrian said. “We’ve got these wells back online, and beyond that, we’ve filed for two new drilling permits to drill new wells in and around those present wells.

“[The Young County well is] a niche that fits us perfectly – it has shallow wells 1000 feet deep that are very cost-effectively drilled for the amount of production they will produce,” Merrian said. “Furthermore, it’s very good quality Texas sweet crude oil.”

And that’s basically the whole philosophy of Platina in a microcosm; extensive company expansion.

“We’re just aggressively building this company … to produce oil and gas,” Merrian concluded.