Platina Energy Announces Arrival of Drilling Equipment on Location for Its Young County, Texas Lease

Company Anticipates Aggregate Initial Production Potential of 10,000 Barrels of Oil Per Month.

CHEYENNE, Wyo.--(BUSINESS WIRE)--Platina Energy Group, Inc. (OTCBB:PLTG - News; FWB:O5Y) announces that drilling equipment has arrived at the Company's Young County leasehold, and that all necessary site preparation work has been completed at the first drilling location.
Young County is a highly defined shallow well prospect located in West Texas. Platina Energy is producing oil from five (5) operating wells on 372 acres with more than 50 additional drilling locations. PV10 estimates by a third party geologist target in excess of 28,000 barrels of recoverable oil reserves per well. Although wells producing in the area have far greater life expectancies, the industry standard is to calculate recoverable reserves over a ten-year period and then discount them using a financial present value formula. Estimated NET initial production rates when combined, interest, are projected to be 150-250 barrels per month per well or 7,500--12,500 barrels in aggregate per month.
"Now that drilling equipment is in place and site preparations are complete, we are confident that will meet our goal to begin drilling this week," commented Mr. Blair Merriam, CEO and President of Platina Energy Group, Inc. "We are very pleased to commence drilling operations at Young County, and we anticipate cumulative initial production of approximately 10,000 barrels of oil per month once all wells have been drilled and completed." At current prices, initial net revenues to Platina's interest could exceed $750,000.00 per month assuming all wells can be drilled and completed on a timely basis.
During a live conference call with the Company management, one drilling contractor commented: "We have been working around the clock to make the Company deadline of drilling before the end of this week. Baring any mechanical difficulties, we will make that deadline." The drilling contractor added that the site crew has also prepared the recovery portion of the job, to assure that well completion will be equally efficient.
This is yet another major milestone for Platina Energy, marking the Company's continued commitment to develop its proven reserves and initiate production of new wells on its properties.

About Platina Energy Group
Platina is an E & P Company that owns oil and gas lease properties in Texas and Tennessee. The Company is currently producing oil from one field. It also owns oil and gas leases for which it is in the process of obtaining drilling permits. Additionally, Platina owns rights to a German inspired, proprietary oil recovery technology that allows for the cost effective recovery of certain types of untapped reserves that exist throughout the world.

SEC DISCLAIMER
Information contained herein may contain forward-looking statements which are not guarantees of future success or that there cannot be losses. The actual presence or recoverability of reserves for optimal and timely recovery, well costs or schedules or other matters cannot be promised. This release contains "Safe Harbor" provisions of the US Private Securities Litigation Reform Act of 1995 & involves risks and uncertainties, which could cause actual results to differ materially from those estimated herein.
Platina Energy believes the forward-looking statements are based on current reasonable assumptions but can give no assurance that results will be achieved. Unpredictable & unanticipated risks, trends and uncertainties including inability to accurately forecast operating results; the potential inability to achieve profits or have cash flow; access to financing; and other must be understood.