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Mr. Blair Merriam, CEO of Platina Energy Group, Inc., commented on the company''s expansion of the agreement:
"This decision to expand our joint
partnership with Zone Petroleum serves as a testament to both our faith in our
operations at the Young County Prospect as well as our ability to work together with Zone Petroleum to maximize our production capacity and build value for our shareholders. We are very pleased to be working with respected industry players such as Zone Petroleum, and consider that partnership to be a significant strategic asset."
A spokesperson for Zone stated that, "The partnership with Platina marks the first one of its kind outside of its focus on Central American opportunities. It was never our intention to allocate a considerable financial commitment to such a project outside of our core area but we have been very impressed with Platina and its management and particularly its field representatives that have done a very good job of being on time and under budget."
Mr. Merriam further commented that Platina Energy will continue to acquire more acreage in the Young County region and expand operations through additional joint venture partnerships with Zone or other industry players.