Welcome To The Platina Energy Group HUB On AGORACOM

Edit this title from the Fast Facts Section

Free
Message: Ultimate target 4.25!!!

Ultimate target 4.25!!!

posted on Jun 05, 2008 06:10AM

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.

Share
New Message
Please login to post a reply