Platina Energy Group, Inc. News
Platina Energy Group Announces Subsidiary Profitability Report
"With all that is happening on a corporate level, the Company is growing by leaps and bounds. Appalachian Energy, our Tennessee prospect, is close to operational profitability — perhaps by March; and we are pumping oil in Oklahoma and Young Counties and continuing with our rework and drilling programs. We could not be more thrilled with all of our progress," stated
According to other reports to senior management by subsidiary leaders, the Company is in negotiations for additional reserve acreage and other prospect opportunities.
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 also owns rights to German Inspired oil extraction technology. The Company continues to be aggressive in acquiring new and existing producing fields.
Contact Information: Platina Energy Group Blair Merriam 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.
SOURCE Platina Energy Group, Inc.
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