Dallas, Texas – Friday, October 3, 2008, 4:05pm Eastern Standard Time (GMT-5)

Platina Energy Group, Inc. ( Symbol OTCBB: PLTG ) ( Symbol Frankfurt: O5Y.F ) reports next well drilling to commence in Kentucky this weekend. The Company is in receipt of an upwardly revised engineering report estimate showing the potential of 30-60,000 BOE of recoverable reserves per new well on this field .

According to Blair Merriam, President, “We continue to work diligently to complete each of the previous ten (10) wells that we have drilled on this field, we have a couple of offset wells that are important to us that we will be starting immediately that could also be huge producers .”

Historical and now new data for oil and gas wells in Laurel and Whitley Counties suggest some new strategies that the Company will be adding. Platina is eager to capitalize on this increased hydrocarbon potential that could result in large additional production on its existing lease acreage holdings .

And this is also important part of the August news:

Platina Energy Group, Inc. ( Symbol OTCBB: PLTG ), ( Symbol Frankfurt: O5Y.F ) is pleased to report that the Company has acquired an additional 15-20 drilling locations in Kentucky . Our immediate strategy is to expand growth in proven geographical areas from which we are already producing oil and gas.

According to Blair Merriam, President of Platina, “The additional lease acreage should increase our potential reserves by at least 25%, which is considerably more than the recent temporary decline in gas and oil prices. It is important for investors to understand that we calculate our internal forecasts using $6 natural gas and $70 oil . Being as though current market pricing is more than 50% higher than these bench marks, we are considerably ahead of where we could otherwise be .”

Platina will increase its oil and gas lease holdings in the Appalachian area as its core strategy for growth over the foreseeable future. Production remains on or ahead of targeted quantities despite unstable stock market conditions .

With this great news pltg will have another great day despite current market condition.

This is from another forum:

yes, you are right - so per well, that would assume $2.8 to 5.6m/well at todays price - as they are talking up to 70 wells in this location, that means max revenue would be near $400 million for PLTG ...even getting 1/2 of those in operation is still $200 million . Certainly significant IMH

150,646,402 shares outstanding August 19, 2008

$11,165,375 Assets- June 30, 2008

$0.07 book value per share

using any kind of multiple and you can see we should be trading way higher .21 - .70 pps

Go, pltg go!!!!