Aggressively on the acquisition trail, PLTG has also entered
into a letter of intent to acquire a 63-mile pipeline (the only gas
transmission pipeline for the area) in Texas, including 6-producing
wells with a cumulative total of 50 barrels of oil and 450 thousand
cubic feet of natural gas per day. The acquisition sets the stage for
substantial growth in the four county areas between Oklahoma,
Arkansas, Texas and Louisiana. In addition, PLTG may use its
TPU technology to potentially double its 150 barrels per day
production from the recent Quitman, TX 52-well acquisition
while maintaining a 50% interest in all production. According to
the Dept. of Energy (DOE), there were 2.25 mil. wells drilled in
the U.S. since ’49. Many oil reservoirs had only 35% of their
reserves produced, having huge potential upsides. In seeking to
revitalize marginal/stripper wells, both the DOE and American
Petroleum Institute have emphasized the need for new technologies
to access more of the reserves available. PLTG is on the
threshold of becoming a major player in this segment of the
industry. Ultimate target 4.25.