SOURCE: Platina Energy Group, Inc.

June 12, 2008 03:00 ET

Platina Energy Group Reaches Targeted Drilling Depth for Two (2) Kentucky Wells

DALLAS, TX--(Marketwire - June 12, 2008) - Platina Energy Group, Inc. (OTCBB: PLTG) (FRANKFURT: O5Y) reports targeted drilling depth for two (2) additional wells on its Kentucky field. Both wells have shown good indications for production and will be completed before the end of next week.

Blair Merriam, President of Platina, stated, "These are the second two (2) wells to be drilled on the Kentucky site. Our first drilling activity continues to produce natural gas into the pipeline. We will be examining the potential to produce both gas and oil from some of these locations as we continue our aggressive developmental program on this field. We are very fortunate to have cooperative conditions and management is elated by our progress -- ahead of schedule and within budget."

Similar to the first drilling activity for the Kentucky field, Platina expects commercialization into the pipeline within the next two weeks and additional oil extraction to be possible by July.

About Platina Energy Group

Platina 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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