Platina Energy Group, Inc.: Proven Reserve Valuation Soars Tuesday October 30, 3:00 am ET
CHEYENNE, Wyo., Oct. 30 /PRNewswire-FirstCall/ -- Platina Energy Group, Inc. (OTC Bulletin Board: PLTG - News; Frankfurt: O5Y.F - News) reports that the Company's quantified oil and gas properties including current proven producing and proven reserve estimates have skyrocketed in value over the last few weeks as a result of dramatic crude oil price increases topping $93 per barrel. ADVERTISEMENT
According to Blair Merriam, "The timing of this could not have been better as our new acquisitions being closed are effective as of dates prior to the major price advances. This also represents a better than 25% increase in our proven producing and proven reserve estimates." About Platina Energy Group
Platina Energy is a fast growing E & P Company. Since its organization in 2005, it has acquired proven producing and proven non-producing reserves. The Company owns rights to German inspired, oil extraction technology currently in the R & D phase. Recently, the Company has announced the acceleration of a major acquisition mode.
RISK/SEC DISCLAIMER
Information contained herein contains forward-looking statements; not guarantees of future success.
The presence or recoverability of optimal or timely reserves, well costs, scheduling, 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 to be based on reasonable assumptions but gives no assurance results will be achieved. Unpredictable & 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, certain terms and stipulations that may require obligations of the lessee including developmental or additional financial milestones for which the Company is not obligated to provide which could result in loss of future rights and underlying assets.
-------------------------------------------------- Source: Platina Energy Group, Inc. |