Platina Energy Group, Inc. (PLTG.OB) reported that the company’s estimated proven oil reserves have doubled in value since early 2007. This increase in oil reserve value reflects a potential share appreciation by more than 35%, translating into a fair market price exceeding $3 per share.
Blair Merriam, PLatina’s CEO, stated, “It will be up to the market place and shareholders to determine the hidden potential of the Company’s value and to make informed investment decisions. As reported by the Wall St Journal on Saturday, Oil-price prognosticators, bruised after an unusually volatile spell in the oil patch, have reached a rough consensus on next year: Oil will be even costlier, even if the economy cools.”
Platina Energy is a rapidly growing E&P Company. Since their initial formation in 2005, Platina has pursued various acquisitions and eliminated non-producing reserves, significantly increasing shareholder value as a result. Platina continues to be aggressive in acquiring new and existing producing fields.
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