SOURCE: Platina Energy Group, Inc

April 23, 2007 23:00 ET

Platina Energy Group Announces Hiring Independent Asset Valuation Experts

CHEYENNE, WY -- (MARKET WIRE) -- April 23, 2007 -- Platina Energy Group, Inc. (OTCBB: PLTG) (Cusip 72766F 109) -- Platina Energy Group, Inc., listed on the United States Bulletin Board and Frankfurt, Germany, (FRANKFURT: DBG) (BERLIN: DBG) Exchanges, is pleased to announce that it has engaged the services of several third party industry professionals to evaluate the current assets of the Company. The Company believes that its current holdings may be significantly undervalued as compared to SEC accounting rules.

While these valuation reports are being finalized, negotiations for several prospects are proceeding rapidly and there is progress in the existing production and programs owned by Platina.

Platina Energy Group, Inc. is a dynamic Company in the oil and gas exploration and acquisition business that is shifting its management focus from a "buy and hold" strategy to rapid development of its large lease portfolio via joint ventures with private and public capital sources.

In addition to its oil and gas leases and options, it also owns exclusive rights to distribute proprietary recovery equipment originally conceived using "German technology."

About Platina Energy Group, Inc.

Oil & Gas Drilling & Exploration

Platina Energy Group Inc. (Platina) since inception has operated as a publicly traded holding company acquiring energy sector-related companies and production leases and assets. Platina has acquired several non-competing, complementary companies. The concept was to build a platform/holding company that mitigates risk for investors by spreading their equity investments across multiple investments through one holding company that acquires technology driven enhanced recovery, drilling, and exploration oriented companies. Platina has used a combination of stock, cash, and seller debt to purchase synergistic and accretive companies. However, Platina Energy Group has now elected to change strategies from a simply a holding company of passive assets to a company committed to rapid development of those assets into full production for the purpose of increasing both cash flow and asset value for its investor base.

Through its subsidiary Permian Energy International, the Company has acquired the marketing and distribution rights, to a unique enhanced recovery solution that stimulates and recovers oil and gas from stripper wells.


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. Platina Energy assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

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