Platinum Energy Resources, Inc. (OTC BB: PGRI, PGRIW, PGRIU) is an independent oil and gas exploration and production company. Platinum has approximately 37,000 acres under lease in relatively long-lived fields with well-established production histories, 21,000 of which were acquired as part of the Tandem Energy acquisition consummated on October 26, 2007. Our properties are concentrated primarily in the Gulf Coast region in Texas, the Permian Basin in Texas and New Mexico, and the Fort Worth Basin in Texas. Current production exceeds 1,100 boepd and the proved reserves are over 10 mm boe.

The following acquisitions were made in 2007:

• In December 2007, we acquired a 50% working interest in the La Rosa field for approximately $5 million. The La Rosa Field is a non-producing field of approximately 3,800 acres in Refugio County, Texas. The field contains previously drilled and abandoned wells. We believe, based on our due diligence, that the La Rosa field can yield substantial production through recompletions and new drilling.

• In December 2007, we acquired out of bankruptcy court oil and gas properties, including approximately 200 producing wells, located in Chavez, Lea and Eddy counties, New Mexico previously owned by Lothian Oil, Inc. for $6.2 million. These assets include over one million boe of proved reserves. Approximately 55% of the reserves are proved developed. On the closing date, the production was approximately 140 boe per day, and one of the primary fields is adjacent to our Ballard Field in Eddy County.

• In December 2007, we acquired an additional 50% working interest in the Barnett Shale acreage within our Ball Field for approximately $920,000. This acquisition increased our net acreage position by 2,300 net acres and gave us a 100% working interest in the Barnett Shale. We plan to begin a horizontal development program in the Barnett Shale during 2008, which may include a 3-D seismic program.

• In January 2008, we acquired a 70% working interest in the Pleasanton field for approximately $5 million. The Pleasanton Field is a non-producing field of approximately 4,200 acres in Atascosa County, Texas. The field contains previously drilled and abandoned wells. We believe, based on our due diligence, that the Pleasanton field can yield substantial production through recompletions and new drilling.

• We are currently in final negotiations to acquire Maverick Engineering, Inc. (“Maverick”) for $11 million, with $6 million paid at closing and the remaining $5 million to be paid over the next 6 years, the timing of which is contingent upon performance. Established in 1993, Maverick has grown into a full-service engineering service company with 270 employees including a staff of 70 engineers, consultants, surveyors, scientists and planners. Maverick is a leading provider of project management, engineering, procurement, and construction management services to both the public and private sectors.

Platinum Energy Resources strategy is to use Tandem to build an E&P operating company platform for the acquisition of oil & gas assets with existing production. We will seek to use hedge financing to lock in profits while enabling growth through both acquisition and low-risk development.