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