West Texas Royalties, Inc. WTXRI.COM

CHEYENNE, Wyo., Feb. 8 /PRNewswire-FirstCall/ -- Platina Energy Group, Inc. (OTC Bulletin Board: PLTG - News), announced the closing of its acquisition of a second oil and gas lease by signing an agreement with West Texas Royalties, Inc. This agreement brings an additional asset into the Company located in the Palo Duro Basin, recognized as one of the newest shale gas plays in the United States. The Palo Duro Basin has had approx 10 exploratory wells drilled and to date there has only been one dry hole. Bcf Gas in place per section (one square mile) is estimated at 72 to 112 as reported by other companies drilling in the basin. This new acquisition has approx 20,000 ac (gross) under 2 year option agreements which will need to be exercised in the near future. Additionally, the acquisition includes 250 plus acres of lease production with infield drilling potential in Young County. Current production is 2.25 BOPD with more coming online soon. Further, there is an option to purchase an additional 23 Wells on 400 acres. These leases are currently producing 4 BOPD with potential of more production with infield drilling potential and reentry into existing wells to bring up production in these fields.

These recent acquisitions by the Company not only establish a foundation for growth, but are evidence of the Company's commitment to create sustainable growth in earnings and shareholder value. The CEO of the Company, Mr. Blair Merriam states, "This acquisition when combined with the recently acquired Tennessee play, creates a portfolio of assets with the potential to launch the Company into major revenues and profits." When asked about the relatively unchanging stock price of the Company, Mr. Merriam states, "Clearly the market has not yet responded to the overall significance of these acquisitions. If it did, the price of the stock in my opinion would be much higher. I believe this is a great opportunity for investors to get involved because the stock is significantly under priced." Mr. Merriam went on to say, "The Company has for the first time in its history, built a solid foundation for growth based on tried and true principles in the oil and gas industry. We simply need to develop these assets by drilling the wells and thereby generating revenue and profits." Those interested should contact the Company's CEO, Mr. Blair Merriam for further details.

    Contact:
    Blair Merriam, Chairman & CEO
    Platina Energy Group, Inc.
    Cheyenne, Wyoming



27-Nov-2006 
Entry into a Material Definitive Agreement, Other Events, Financial Sta 

Item 1.01. Entry into a Material Definitive Agreement. 
On November 20, 2006, Platina Energy Group, Inc. (the "Company") entered into an Asset Purchase Agreement (the "Agreement") with West Texas Royalties, Inc. ("West Texas"). Pursuant to the Agreement, West Texas has agreed to sell to the Company (i) a seventy-five percent (75%) working interest in leases and options to lease, oil and gas properties comprised of approximately 20,000 gross acres (more or less) located in the Palo Duro Basin, Texas and (ii) a seventy-five percent (75%) working interest in oil and gas leases on 372 acres (more or less) comprised of approximately 21 wells located in Young County, Texas with West Texas retaining a twenty five (25%) working interest in all assets being transferred. 
Pursuant to the Agreement, the Company plans to issue 25,000 shares of its Series B Preferred Stock. The transactions set forth in the Agreement are contingent upon the Company providing a minimum of $800,000 to fund the purchase, from a third party, the oil and gas leases being transferred on or before March 15, 2007. 





Item 8.01. Other Events. 
Effective November 15, 2006 the address of the Company's executive offices is 1807 Capital Avenue, Suite 101 I, Cheyenne, Wyoming 82001. 





Item 9.01. Financial Statements and Exhibits. 
(c) Exhibits 
Exhibit No. Description 
2.1 Asset Purchase Agreement by and among Platina Energy Group, Inc. and West Texas Royalties, Inc. dated as of November 20, 2006. 





West Texas Royalties, Inc. Sells Floyd County Texas Lease

West Texas Completes the sale of over 2000 net mineral acres to an undisclosed company in Houston, Texas to explore the Shale gas.
Terms of the deal are confidential.