Platina operates as a publicly-traded holding company for several acquired energy firms and properties. The company plans to minimize risk by holding a diversified portfolio. Through its subsidiaries, the company owns oil and gas leases in Texas, the Appalachian Basin in eastern Tennessee, and in Young County, Texas.
Platina is aggressively acquiring drilling properties and related energy assets. The company recently exercised its option to acquire a major stake in the Hall and Kirkpatrick leases located in Swisher and Hale County, Texas. The acquisition substantially increased its current holdings in the Palo Duro Basinby to approximately 920 acres.
With proven reserves valued in excess of $100 million, StocksJournal believes that Platina shares are significantly undervalued. At a $0.45 share price, Platina is valued at one-tenth the value of the company’s proven reserves.
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