Platino Energy Corp.
TSX VENTURE : PZE

Platino Energy Corp.

August 14, 2013 20:14 ET

Platino Energy Corp. Announces Second Quarter Financial Results

CALGARY, ALBERTA--(Marketwired - Aug. 14, 2013) - Platino Energy Corp. ("Platino" or the "Company") (TSX VENTURE:PZE) is pleased to announce the release of its unaudited consolidated financial results for the quarter ended June 30, 2013, together with its management's discussion and analysis, both of which will be made available on the Company's website at www.platinoenergy.com and SEDAR at www.sedar.com.

SUMMARY SECOND QUARTER FINANCIAL RESULTS
SELECTED FINANCIAL INFORMATION
(US$000s, except shares and data per share) Three Months Ended
June 30, 2013
Six Months Ended
June 30, 2013
Net Loss (2,141 ) (3,374 )
Basic and diluted net loss per share $ (0.03 ) $ (0.05 )
Weighted average shares outstanding - Basic and Diluted 68,389,417 68,167,026
Expenditures on E&E Assets 5,260 7,251
As at, June 30, 2013 December 31, 2012
Cash and equivalents, and short term investments 74,700 89,518
Working capital surplus 70,584 79,268
Long-term debt - -
Total assets 135,303 141,574
Common shares 68,492,164 67,942,164

About Platino Energy

Platino is a Calgary, Alberta headquartered resource company engaged in the exploration for, and the acquisition, development and production of hydrocarbons in Colombia.

Advisory Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable securities laws. The use of any of the words "will", "intends" and similar expressions is intended to identify forward-looking information concerning the Company's future operations and performance.

The forward-looking information in this news release is based on certain key expectations and assumptions made by Platino. Although Platino believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Platino can give no assurance that it will prove to be correct. The forward-looking information in this news release is subject to known and unknown risks and uncertainties and other factors which may cause actual results to differ materially from those expressed or implied in the forward-looking information. Such risks, uncertainties and factors include, among others: the inability to secure necessary regulatory or other third party approvals; the early stage of development of Platino and its assets and the nature of the exploration and development activities on such assets; difficulties encountered during the exploration for, delineation, development and production of oil. As a result of the foregoing, readers should not place undue reliance on the forward-looking information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect the operations or financial results of Platino are included in the Listing Application (Form 2B) of Platino filed with the TSX-V, which has been filed with applicable securities regulatory authorities and may be accessed through the SEDAR website www.sedar.com.

The forward-looking information contained in this news release is made as of the date hereof and Platino undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

  • Platino Energy Corp. - Bogota
    Tomas Villamil
    President & Chief Executive Officer
    +57(1) 235-0007

    Platino Energy Corp. - Bogota
    Andres Modarelli
    Vice President of Finance & interim CFO
    +57(1) 235-0007

    Platino Energy Corp. - Calgary
    Tyler Rimbey
    Vice President, Business Development
    +1(403) 262-6046
    www.platinoenergy.com