Formation of Oil and Gas Syndication Subsidiary
CHEYENNE, Wyo., Oct. 31 /PRNewswire-FirstCall/ — Platina Energy Group, Inc. (BULLETIN BOARD: PLTG) , (Symbol Frankfurt: O5Y.F) forms Applegate Petroleum Management, Inc., as general partner for oil and gas participation limited partnerships.
According to Blair Merriam, Platina receives regular inquiries by potential investors and stakeholders seeking oil well participations. The ability to allocate tax incentives to individuals for 2007 along with royalty income probability to investors is the latest expansion for Platina.
With all of the new well acquisition targets being assessed in addition to those owned or under contract with Platina, the Company believes that individual investors should have the opportunity to benefit just as our institutional partners have.
According to Blair Merriam, “Our Corporate progress for 2007 has been methodical and steady. We have grown the Company both through acquisition as well as internally and will continue to do so. The next opportunity is to give qualified investors both tax benefits for 2007 under a 2:1 leveraged structure, with income potential for many years to come. Our current product inventory available for partnerships could be as much as $50,000,000.00.”
About Platina Energy Group
Platina Energy is a fast growing E&P Company. Since organization in 2005, it has acquired proven producing and proven non-producing reserves in addition to other possible reserves. The Company owns rights to oil extraction technology in the R & D phase.
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 & involves risks and uncertainties that 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 & 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 that may require performance by the lessee. This could result in loss of future rights and underlying assets
Platina Energy Group, Inc.
CONTACT: Blair Merriam of Platina Energy Group, Inc., +1-307-637-3900,InvestorRelations@platinagroup.com
Web site: http://www.platinaenergygroup.com/