SOURCE: Platina Energy Group, Inc.

October 14, 2008 09:45 ET

Platina Energy Group Announces Progress in Oklahoma

DALLAS, TX--(Marketwire - October 14, 2008) - Platina Energy Group, Inc. (OTCBB: PLTG) (FRANKFURT: O5Y) reports new oil well acquisitions in Oklahoma. Through Platina's local operating subsidiary, the new oil well acquisitions have lead to the discovery of new oil reserves previously unidentified, behind the pipe. According to local field experts, there are considerable hydrocarbons in several of the acquired wells and the advent of new technology has been the conduit for this discovery. This potential hydrocarbon discovery could lead to significant additional production.

"Oklahoma has previously been a small producer for Platina because of a challenging geological formation. We believe that we have recently cracked the code and will see significant results from new technology related efforts. With any luck, we will be reporting that progress over the next few weeks and will be looking forward to significantly increased production on this field," stated Blair Merriam, President of Platina Energy Group.

About Platina Energy Group

Platina Energy is an environmentally responsible, fast growing E&P strategic reserve 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 developing and acquiring new and existing producing fields.

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.

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