SOURCE: Platina Energy Group, Inc.

October 20, 2008 21:05 ET

Platina Energy Group Reports Excellent Logging Records in Wyoming

DALLAS, TX--(Marketwire - October 20, 2008) - Platina Energy Group, Inc. (OTCBB: PLTG) (FRANKFURT: O5Y) reports drilling results in Wyoming indicating excellent hydrocarbon log records. Field data has confirmed that there is significant oil and possible gas from the recently drilled well.

According to Blair Merriam, President, "The Wyoming Field has a lot of hydrocarbon potential. Although we have an older producing well that has been online for some time, there are other surrounding wells with good history that we are doing our best to offset in hopes of completing a big one. Obviously it is too early to tell, but we remain excited about the potential of this well."

Prior developments on this field indicate significant reservoirs of oil. There are initial field challenges relative to the completion of this well but several experts have confirmed that this new well should be a good one but will require additional completion efforts.

About Platina Energy Group

Platina Energy is an aggressive oil and gas reserve Company. In the early stages of development, it has met success and challenges related to field production. Although there have been recent events impairing production from field complications and current developments, third party engineering reports continue to substantiate proved reserves that exceed 23bcf of natural gas and approximately 2 million barrels of oil.


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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