SOURCE: Platina Energy Group, Inc.

June 23, 2008 14:45 ET

Platina Energy Group Report Total Depth on Well Number (4) in Kentucky

DALLAS, TX--(Marketwire - June 23, 2008) - Platina Energy Group, Inc. (OTCBB: PLTG) (FRANKFURT: O5Y) reports total depth on well number four (4) in Kentucky. The well is currently being logged and has had very good gas and oil indications during the drilling and casing phase and is expected to make for another good well.

"We estimate about 60 barrels of oil in this well that we will need to pump out before we can perforate the pipe and get a pump jack in place. The natural gas gathering line is already on site and crews are working around the clock to commercialize this well perhaps as early as later this week. Meanwhile, the rig from this well has been moved to location number five (5) and is down 1,000 feet already," stated Blair Merriam, President of Platina.

Platina also reports progress on other fronts including recent drilling activities on its Wyoming field for which news will be forthcoming.

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.


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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