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Platina Energy Group Strikes More Natural Gas in Kentucky

Posted on: Monday, 2 June 2008, 03:39 CDT

Platina Energy Group, Inc. (OTCBB: PLTG) (FRANKFURT: O5Y) reports gas production of 100mcf per day flowing into the pipeline for the first well drilling activity in Kentucky as of last week. The current drilling rig has already moved to the second location and has commenced drilling. An additional rig has become available due to corporate changes with another Company. Platina has contracted for this rig and has been promised delivery within 1-2 weeks.

Expected cash flow from the Kentucky field alone will exceed $100,000 per month by the end of June/beginning of July and is projected to exceed $300,000 per month by summer's end.

"Platina has made radical production development advancements in response to shareholder demands for increased product sales from our properties. The Company is targeting combined revenues to exceed $1 million per month by the third quarter, including the new pipeline connections in Tennessee for our most recent new wells drilled and completed," stated Blair Merriam, President of Platina Energy.

About Platina

Platina (www.PlatinaEnergyGroup.com) is an environmentally responsible, fast growing E&P strategic reserve Company. Since organization in 2005, it has acquired proven producing and proven non-producing reserves in addition to other possible reserves. The Company also owns rights to German Inspired oil extraction technology. The Company continues to be aggressive in acquiring new and existing producing fields.

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.

 Contact Information: Platina Energy Group Blair Merriam Email Contactwww.PlatinaEnergyGroup.com

SOURCE: Platina Energy Group, Inc.

Source: MARKET WIRE

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