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Tandem Energy Holdings, Inc. Announces the Platinum Energy Resources, Inc. Registration Statement Declared Effective

Posted on: Friday, 8 August 2008, 18:00 CDT

Tandem Energy Holdings, Inc. (Tandem), announced today that the registration statement on Form S-1 filed by Platinum Energy Resources, Inc. ("Platinum Energy") (OTCBB: PGRIU) (OTCBB: PGRI) (OTCBB: PGRIW), registering the distribution by Tandem Energy Holdings, Inc. of shares of Platinum Energy's common stock to its shareholders, was declared effective by the Securities and Exchange Commission on August 7, 2008. Platinum Energy expects the physical delivery of those shares, along with a copy of the prospectus, to commence next week.

On October 26, 2007, Platinum Energy acquired substantially all of the assets of Tandem, an independent oil and gas exploration and production company located in Midland, Texas, in exchange for 7,692,308 shares of Platinum Energy's common stock and the repayment of certain Tandem indebtedness. Tandem was dissolved on June 24, 2008 and as part of its dissolution and winding up of its affairs Tandem is distributing the shares of Platinum Energy common stock it holds to its shareholders. The registration statement covers the distribution of those shares.

This notice is provided for information purposes only, and does not represent a solicitation or offer to buy or sell any security. A registration statement relating to these securities was filed with and has been declared effective by the Securities and Exchange Commission.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sales of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by words such as "believe,""expect,""anticipate,""plan,""potential,""continue,""intend" or similar expressions. Forward-looking statements also include the assumptions underlying or relating to any of the foregoing statements. Such forward-looking statements are based upon current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The forward-looking statements contained in this press release may include statements about future financial and operating results. These statements are not guarantees of future performance, involve certain risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. Therefore, actual outcomes and results may differ materially from what is expressed herein. In any forward-looking statement in which Platinum expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the statement or expectation or belief will result or be achieved or accomplished. All forward-looking statements included in this press release are based on information available to Tandem on the date hereof. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: volatility of oil and gas prices, the need to develop and replace reserves, the substantial capital expenditures required to fund operations, exploration risks, uncertainties about estimates of reserves, competition, government regulation, costs and results of drilling new projects, and mechanical and other inherent risks associated with oil and gas production. Tandem does not assume any obligation to update the information contained in this press release.

Source: Business Wire

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