Ever since the stock market started up, energy and oil companies have been on the forefront of investor interest. After all, any industry that deals so intimately with the resources that drive our society has to be attractive to even the most casual of investors. That’s why Platina Energy Group Inc. (OTCBB: PLTG) is so intent on expanding its resources these days – to attract investors.”Our general overall business mode is that we are aggressively growing and getting ready to develop our leases we’ve acquired over the last year,” Blair Merrian, Platina’s CEO, told MN1. “We drill them and produce oil and gas off of them.”
One property in particular has proven remarkably successful for the company – the property in Young County, Texas. The company recently acquired the property and is keen to develop it further. Platina will be working with a local driller and operator in conjunction with a joint venture funding agreement with Zone Petroleum.
“We brought online five wells that were there when we acquired it, and they’re producing,” Merrian said. “We’ve got these wells back online, and beyond that, we’ve filed for two new drilling permits to drill new wells in and around those present wells.
“[The Young County well is] a niche that fits us perfectly – it has shallow wells 1000 feet deep that are very cost-effectively drilled for the amount of production they will produce,” Merrian said. “Furthermore, it’s very good quality Texas sweet crude oil.”
And that’s basically the whole philosophy of Platina in a microcosm; extensive company expansion.
“We’re just aggressively building this company … to produce oil and gas,” Merrian concluded.