Platina Energy Group Reports Significant Field Production Increase!!!
posted on
Jul 01, 2008 03:14AM
Edit this title from the Fast Facts Section
Dallas, Texas – Monday June 30, 2008 4:05pm (EST)
Platina Energy Group, Inc. ( Symbol OTCBB: PLTG ), ( Symbol Frankfurt: O5Y.F ) reports daily natural gas production increase of 200mcf for the week ending June 29, 2008. Estimated net oil production for the same week was 100-200 barrels .
According to Blair Merriam, President of Platina, “these are not static production numbers as they can vary depending on many factors. In response to a rash of phone calls asking about our production, we decided to provide a snapshot for last week’s activity, which we will report on from time to time. As we receive revenue checks and post revenues from these recent activities, I’m hoping the daily calls about production will settle down as I cannot provide information to one shareholder and not to all.”
The Company is in the process of connecting additional wells from other recent activity in addition to adding oil collection tanks known as tank batteries to common field areas for storage and pick up .
This is from news from 19.06:
Combined production should range in the 750-1000 mcf/day . At current gas pricing, annualized revenue run-rate should rise to exceed $4,000,000+ from the new connections by the end of June. We are only part way done with our present developmental program in Kentucky, but expect to enjoy cash flows beginning in July and a healthy revenue stream from these wells for years to come.
This is great news!!! Also Mr Thornton said that 10KSB-Filing will be filed until 15.07 , nothing to worry about Filing!!! And we are waiting for more news from Kentucky, Wyoming and Tennessee, everything great expect us!!! If you want to subscribe to news here is the site:
http://platinagroup.com/phplist/?p=s...
This is great stock, I expect to see this stock at 0.25$ in this month and today I will accumulate this stock today up to 0.155$ , This is a win win scenario!!!
Long and strong on pltg!!!