SOURCE: Platina Energy Group, Inc.

April 17, 2008 03:00 ET

Platina Energy Group Reports Technology Acquisition Description

CHEYENNE, WY--(Marketwire - April 17, 2008) - Platina Energy Group, Inc. (OTCBB: PLTG) (FRANKFURT: O5Y) recently acquired "down hole" oil field technology as part of a licensing agreement from the University of Texas. The patented technology solves a common problem in the oil and gas industry with certain types of wells whereby the ability to produce natural gas at the same time as oil, had previously been limited.

According to experts in the field, when a specific well has oil reserves above a gas production zone, the gas pressure is often not sufficient to allow for simultaneous retrieval and essentially blocked by the oil. This technology uses a combination jet and submersible pump above the oil levels in the earth's crust and thereby allows it to pass without resistance.

The President, Blair Merriam commented, "This technology simultaneously brings up both oil and gas, which means you capture the gas instead of venting it off. Not only is this economically advantageous, it is also environmentally responsible. In addition to potential applications for the Company, we intend to offer sublicensing agreements to other Companies who can benefit from this technology."

About Platina

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.


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 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 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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