Platina Energy Group, Inc. reports gas production of 100mcf per day flowing into the pipeline for the first well drilling activity in Kentucky as of last week
Platina Energy Group, Inc. reports gas production of 100mcf per day flowing into the pipeline for the first well drilling activity in Kentucky as of last week. The current drilling rig has already moved to the second location and has commenced drilling. An additional rig has become available due to corporate changes with another Company.
Platina has contracted for this rig and has been promised delivery within 1-2 weeks.
Expected cash flow from the Kentucky field alone will exceed $100,000 per month by the end of June/beginning of July and is projected to exceed $300,000 per month by summer's end.
"Platina has made radical production development advancements in response to shareholder demands for increased product sales from our properties. The Company is targeting combined revenues to exceed $1 million per month by the third quarter, including the new pipeline connections in Tennessee for our most recent new wells drilled and completed," stated Blair Merriam, President of Platina Energy.
