SOURCE: Platinum Energy Resources, Inc.

April 23, 2007 08:30 ET

Platinum Energy Resources, Inc. to Present at IPAA OGIS Conference

NEW YORK, NY -- (MARKET WIRE) -- April 23, 2007 -- Platinum Energy Resources, Inc. ("Platinum Energy") (OTCBB: PGRIU) (OTCBB: PGRI) (OTCBB: PGRIW) announced today that Chief Executive Officer Barry Kostiner will present at the IPAA OGIS conference on Wednesday, April 25, 2007 at 2:50 pm ET. The conference will be held at the Sheraton New York Hotel & Towers at 811 7th Ave. in New York.

The IPAA presentation will be filed with the SEC prior to the conference and will be available online in an 8-K filing from http://www.sec.gov. All interested parties are invited to listen to the live presentation over the Internet by logging on at the link below.

Webcast: http://www.investorcalendar.com/CEPage.asp?ID=115822

Please log on at least fifteen minutes early to download and install any necessary audio software.

The IPAA Oil & Gas Investment Symposium New York (OGIS New York) has become the premier outlet for publicly traded independent Exploration and Production and Service and Supply companies to present their company profiles to the investment community. Last year's Symposium attracted over 1500 attendees, including more than 600 buy/sell-side analysts and portfolio managers and 80 presenting companies.

On October 4, 2006, Platinum Energy restructured its previously announced transaction to acquire Tandem Energy Corporation. Tandem is an independent oil and gas exploration and production company headquartered in Midland, Texas.

For additional information, please visit the Platinum Energy Resources web site at http://www.platenergy.com/.

About Platinum Energy

Platinum Energy Resources, based in Montvale, New Jersey, is a special purpose acquisition corporation seeking to acquire assets or operating businesses in the global oil and gas exploration and production industry. Platinum Energy will seek to build a portfolio of assets using multiple acquisitions subsequent to its first. Platinum Energy's strategy calls for the use of hedge financing to maximize profit and reduce risk resulting from volatile energy markets.

Platinum Energy was incorporated in April 2005 to acquire an operating business in the energy industry. Platinum Energy completed its initial public offering on October 24, 2005, receiving net proceeds of approximately $106 million through the sale of 14.4 million units of its securities at $8.00 per unit. Each unit is comprised of one share of Platinum Energy common stock and one redeemable and convertible common stock purchase warrant with an exercise price of $6.00. Platinum Energy currently holds over $109 million in a trust account maintained by an independent trustee, which will be released to Platinum upon the closing of a business combination.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Forward-looking statements also include the assumptions underlying or relating to any of the foregoing statements. Such forward-looking statements are based upon current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The forward-looking statements contained in this press release may include statements about future financial and operating results and about the proposed acquisition by Platinum Energy of the assets of Tandem Energy. These statements are not guarantees of future performance, involve certain risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. Therefore, actual outcomes and results may differ materially from what is expressed herein. For example, if Platinum Energy does not receive required stockholder approval or fails to satisfy other conditions to closing, the transaction will not be consummated. In any forward-looking statement in which Platinum Energy or Tandem Energy expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the statement or expectation or belief will result or be achieved or accomplished. All forward-looking statements included in this press release are based on information available to Platinum Energy and Tandem Energy on the date hereof. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: business conditions in the U.S. and abroad; changing interpretations of generally accepted accounting principles; outcomes of government reviews; inquiries and investigations and related litigation; continued compliance with government regulations; legislation or regulatory environments, requirements or changes adversely affecting the businesses in which Tandem Energy is engaged; fluctuations in oil and gas prices and in customer demand; management of rapid growth; intensity of competition; general economic conditions; as well as other relevant risks detailed in Platinum Energy's filings with the Securities and Exchange Commission. The information regarding Tandem Energy contained in this press release has been provided by Tandem Energy. Further, the information set forth herein should be read in light of such risks. Neither Platinum Energy nor Tandem Energy assumes any obligation to update the information contained in this press release.

Additional Information and Where to Find It

INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PRELIMINARY PROXY STATEMENT AND, WHEN AVAILABLE, THE DEFINITIVE PROXY STATEMENT REGARDING THE PROPOSED ASSET ACQUISITION BECAUSE IT CONTAINS IMPORTANT INFORMATION ABOUT THE TRANSACTION. Investors and security holders may obtain a free copy of the proxy statement (when it is available) and other documents filed by Platinum Energy with the Securities and Exchange Commission at the Securities and Exchange Commission's web site at http://www.sec.gov. Free copies of the proxy statement, once available, and other documents may also be obtained free of charge from Platinum Energy's investor relations at tom@cjpcom.com or by directing a request to Platinum Energy Resources, Inc., 25 Phillips Parkway, Montvale, NJ 07645.

Platinum Energy and its directors, officers and other employees may be deemed to be participants in the solicitation of proxies from the stockholders of Platinum Energy with respect to the transactions contemplated by the asset acquisition agreement. Information regarding Platinum Energy's officers and directors is available in Platinum Energy's Form 10-K for the fiscal year ended December 31, 2006 filed with the Securities and Exchange Commission on April 2, 2007. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in other relevant materials to be filed with the Securities and Exchange Commission when they become available.

Contact Information

  • Contact:
    For More Information Contact:
    Thomas Rozycki
    CJP Communications for
    Platinum Energy Resources, Inc.
    Public & Investor Relations
    212-279-3115 x208
    Email Contact