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Latest Platina Energy Group Inc. Stories

2008-11-06 09:00:37

Platina Energy Group, Inc. (OTCBB: PLTG) (FRANKFURT: O5Y) reports 200 barrels of high-grade oil in two weeks from Young County. The Company has repaired the electrical and mechanical field problems over the past few weeks and now has seven operational wells that have outperformed initial estimates. Blair Merriam, President of Platina, stated, "We had hoped to have 7-10 barrels per day of production from this field and within the first two weeks of reconnections we already have 200 barrels....

2008-10-30 09:00:35

Platina Energy Group, Inc. (OTCBB: PLTG) (FRANKFURT: O5Y) reports operational cost projections for hydrocarbon extraction in Tennessee and Kentucky far below domestic averages. Despite the recent energy price reductions, the cost of production as a percentage of sales will likely remain low across the Appalachian area fields. According to Blair Merriam, "Despite economic slow downs, we have drilled additional wells that are now being added to the gathering lines and tank batteries. The...

2008-10-20 21:00:13

Platina Energy Group, Inc. (OTCBB: PLTG) (FRANKFURT: O5Y) reports drilling results in Wyoming indicating excellent hydrocarbon log records. Field data has confirmed that there is significant oil and possible gas from the recently drilled well. According to Blair Merriam, President, "The Wyoming Field has a lot of hydrocarbon potential. Although we have an older producing well that has been online for some time, there are other surrounding wells with good history that we are doing our best...

2008-10-03 18:00:28

Platina Energy Group, Inc. (OTCBB: PLTG) (FRANKFURT: O5Y) reports next well drilling to commence in Kentucky this weekend. The Company is in receipt of an upwardly revised engineering report estimate showing the potential of 30-60,000 BOE of recoverable reserves per new well on this field. According to Blair Merriam, President, "We continue to work diligently to complete each of the previous ten (10) wells that we have drilled on this field, we have a couple of offset wells that are...

2008-09-26 18:00:53

Platina Energy Group, Inc. (OTCBB: PLTG) (FRANKFURT: O5Y) reports oil and gas revenues from the Kentucky field for July that exceeded all of the Company production income from the prior quarter. Blair Merriam, President of Platina stated, "Despite the fact that gas prices dropped by over 1/3, we managed to accrue oil and gas income in July that we have now collected that exceeded our entire production revenues for the previous quarter. Albeit that Platina reports income on an accrual...

2008-09-04 09:00:42

Platina Energy Group, Inc. (OTCBB: PLTG) (FRANKFURT: O5Y) is pleased to report the acquisition of an additional 1,000 oil and gas lease acres in Laurel County, Kentucky over the last 60 days. This represents more than a 50% increase from the previous 1,700 acres that Platina has already drilled 10 successful wells on. This gives the Company approximately 70 potential well locations in the targeted developmental area. Blair Merriam, President, stated, "We've already drilled ten good wells....

2008-08-19 18:00:39

Platina Energy Group, Inc. (OTCBB: PLTG) (FRANKFURT: O5Y) reports the seventh successful new well activity on its Kentucky Field. Platina has maintained a remarkable record for productive oil and natural gas wells in Kentucky beyond its initial expectations. The Company continues to develop this field with diligence and will be adding additional production through completion strategies to further enhance product flow of both oil and gas from each well. Platina further expects to drill...

2008-08-05 15:00:56

Platina Energy Group, Inc. (OTCBB: PLTG) (FRANKFURT: O5Y) is pleased to report that the Company has acquired an additional 15-20 drilling locations in Kentucky. Our immediate strategy is to expand growth in proven geographical areas from which we are already producing oil and gas. According to Blair Merriam, President of Platina, "The additional lease acreage should increase our potential reserves by at least 25%, which is considerably more than the recent temporary decline in gas and oil...

2008-07-23 18:00:48

Platina Energy Group, Inc. (OTCBB: PLTG) (FRANKFURT: O5Y) reports this week's production estimate at 550 BOE for Kentucky. This includes 180 barrels of existing oil plus estimated field production for natural gas. At present pricing, roughly $75,000 for the week! Blair Merriam, President, stated, "Assuming no growth, with level production, the annualized income, basis the current common shares issued and outstanding, is almost 3.5 cents per share. Considering there is additional...

2008-07-15 18:00:38

Platina Energy Group, Inc. (OTCBB: PLTG) (FRANKFURT: O5Y) releases independent reserve report data quantifying its holdings in Kentucky and Tennessee for net oil and gas reserves. According to the report, the specific net recoverable quantities are 1.85 million barrels of oil and 24BCF of natural gas. At present pricing, this represents a value well in excess of $500,000,000.00. "This is probably the most significant news that the Company has ever released. Although we have other reserve...


Word of the Day
lunula
  • A small crescent-shaped structure or marking, especially the white area at the base of a fingernail that resembles a half-moon.
This word is a diminutive of the Latin 'luna,' moon.
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