DALLAS, TX--(MARKET WIRE)--Oct 7, 2008 -- Platina Energy Group, Inc. (OTC BB:PLTG.OB - News) (Frankfurt:O5Y.F - News) reports oil in tanks pending new approvals in Young County. Platina had previously refocused its efforts on other fields in recent months pending additional paperwork filings that required processing. According to our field managers, we're almost finished with this and will be resuming operations shortly including the sale of oil in tanks.

Blair Merriam, President, stated, "Young County was our first producing field. Although the wells are not larger producers, the cost to drill and complete them is very low. We had previous issues with paperwork that had to be solved before we could refocus on this field activity. This appears to be close to finalization and we will resume development."

Platina has also been in discussions with several groups as to the optimal method for benefit to the Company from this field. The Company expects to have exciting news about developments in Young County in the near future.

About Platina Energy Group

Platina Energy is an environmentally responsible, fast growing E&P strategic reserve Company. Since organization in 2005, it has acquired proven producing and proven non-producing reserves in addition to other possible reserves. The Company also owns rights to German Inspired oil extraction technology. The Company continues to be aggressive in developing and acquiring new and existing producing fields.

RISK/SEC DISCLAIMER

Information contained herein contains forward-looking statements; not guarantees of future success.

The presence or recoverability for optimal/timely reserves, costs, scheduling, etc., cannot be promised. This release contains "Safe Harbor" provisions of the US Private Securities Litigation Reform Act of 1995 & involves risks and uncertainties that could cause actual results to differ materially from those estimated herein.

Platina Energy believes the forward-looking statements to be based on reasonable assumptions; however, no assurances are made. Unpredictable & unanticipated risks; trends; potential unprofitability; cash flow impairments; access to financing; and other risks must be understood.

Platina Energy assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events. Issuances of shares for acquisitions, settlements or services may dilute future earnings.

Oilfield leases contain certain terms and stipulations, often developmental or financial that may require performance by the lessee. This could result in loss of future rights and underlying assets.

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     Platina Energy Group
     Blair Merriam
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     http://www.PlatinaEnergyGroup.com