Platina Energy Group, Inc. has signed a deal to exercise its option to acquire a major stake in the Hall and Kirkpatrick leases located in Swisher and Hale county, Texas.

The acquisition represents a substantial increase to its current holdings in the Palo Duro Basin, raising the company’s leased acreage by approximately 920 acres. As mentioned earlier, a Morgan Stanley report compares Palo Duro Basin to Barnett Shale, the largest natural gas play in Texas.

Mr. Blair Merriam, the CEO of the Company states, “We are pleased to have signed a deal for these options in particular, based on our opinion that these locations have the best potential.”