Contact Information: Contact: Thomas J. Rozycki, Jr. CJP Communications for Platinum Energy Resources, Inc. Public & Investor Relations 212-279-3115 x208 trozycki@cjpcom.com
Platinum Energy Resources, Inc. Announces Appointment of Lisa Meier as Chief Financial Officer and Division President
| Source: Platinum Energy Resources, Inc.
NEW YORK, NY--(Marketwire - August 11, 2008) - Platinum Energy Resources, Inc. ("Platinum
Energy") (OTCBB : PGRIU ) (OTCBB : PGRI ) (OTCBB : PGRIW ) today announced the
appointment of Ms. Lisa Meier as Chief Financial Officer and Treasurer of
Platinum Energy. Ms. Meier will also serve as President of the Company's
newly created services and infrastructure division, Platinum Services and
Infrastructure, Inc.
Ms. Meier has served as Chief Financial Officer of NYSE-listed Flotek
Industries, Inc., since April 2004 and was subsequently promoted to Vice
President in January 2005 and Senior Vice President in July 2007. Flotek
is an oilfield services company specializing in innovative production
chemicals and down-hole drilling and production equipment. Over the last
five years, Ms. Meier has been instrumental in Flotek's growth through the
completion of 12 acquisitions, as well as the oversight of equity and
credit capital expansions. Based on her performance she was named the 2007
Chief Financial Officer of the Year by the Houston Business Journal.
Prior to being named Chief Financial Officer of Flotek in 2004, Ms. Meier
held various accounting, finance, SEC reporting and risk management
positions for three Fortune 500 companies and in the energy audit practice
at PricewaterhouseCoopers. Ms. Meier is a Certified Public Accountant and a
member of the American Institute of Certified Public Accountants and
Financial Executives International. Ms. Meier holds Bachelor of Business
Administration and Masters of Accountancy degrees from the University of
Texas.
Ms. Meier serves on the board of directors of AMEX-listed Northern Oil and
Gas, Inc., an exploration and production company focused in the Bakken
formation and throughout the Rocky Mountain region. She serves as chairman
of the audit committee and compensation committee.
Barry Kostiner, Chief Executive Officer of Platinum, stated, "We are very
excited to bring Ms. Meier on board. We expect that Lisa will play a
leading role in guiding the strategy of the company with respect to
finance, accounting, acquisitions and investor relations. By combining her
experience at Flotek with the intellectual capital of Maverick, we
anticipate pursuing accretive acquisitions and diversifying Platinum's
business. Additionally, we believe that Lisa's financing and investor
relations experience should enhance the value of the core E&P business.
Her experience will prove invaluable as we seek to secure capital to
aggressively grow the asset base, and effectively communicate the value of
these assets to our investors."
About Platinum Energy
Platinum, based in Houston, Texas, is an oil and gas exploration and
production company with approximately 37,000 acres under lease in
relatively long-lived fields with well established production histories and
is currently engaged in drilling, developing and exploiting these
properties to provide long-term growth in stockholder value. Platinum's
strategy calls for the use of hedge financing to maximize profit and reduce
risk resulting from volatile energy markets.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning
of the safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. In some cases, forward-looking statements can be identified by
words such as "believe," "expect," "anticipate," "plan," "potential,"
"continue," "intend" or similar expressions. Forward-looking statements
also include the assumptions underlying or relating to any of the foregoing
statements. Such forward-looking statements are based upon current
expectations and beliefs and are subject to a number of factors and
uncertainties that could cause actual results to differ materially from
those described in the forward-looking statements. The forward-looking
statements contained in this press release may include statements about
future financial and operating results. These statements are not guarantees
of future performance, involve certain risks, uncertainties and assumptions
that are difficult to predict, and are based upon assumptions as to future
events that may not prove accurate. Therefore, actual outcomes and results
may differ materially from what is expressed herein. In any forward-looking
statement in which Platinum expresses an expectation or belief as to future
results, such expectation or belief is expressed in good faith and believed
to have a reasonable basis, but there can be no assurance that the
statement or expectation or belief will result or be achieved or
accomplished. All forward-looking statements included in this press release
are based on information available to Platinum on the date hereof. The
following factors, among others, could cause actual results to differ from
those set forth in the forward-looking statements: volatility of oil and
gas prices, the need to develop and replace reserves, the substantial
capital expenditures required to fund operations, exploration risks,
uncertainties about estimates of reserves, competition, government
regulation, costs and results of drilling new projects, and mechanical and
other inherent risks associated with oil and gas production.; as well as
other relevant risks detailed in Platinum's filings with the Securities and
Exchange Commission. Platinum does not assume any obligation to update the
information contained in this press release.