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 to offset in hopes of completing a big
one. Obviously it is too early to tell, but we remain excited about the
potential of this well."
Prior developments on this field indicate significant reservoirs of oil.
There are initial field challenges relative to the completion of this well
but several experts have confirmed that this new well should be a good one
but will require additional completion efforts.
About Platina Energy Group
Platina Energy is an aggressive oil and gas reserve Company. In the early
stages of development, it has met success and challenges related to field
production. Although there have been recent events impairing production
from field complications and current developments, third party engineering
reports continue to substantiate proved reserves that exceed 23bcf of
natural gas and approximately 2 million barrels of oil.
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.