Platina Energy Not a Stock Spam, But a Stock Pick? (PLTG) (PLTG.OB)

<span style="font-weight:bold;">Platina Energy (PLTG) (PLTG.OB)</span> is a $.04/share "penny stock" with a market capitalization of about $5.7M. We're not writing to discuss it as a target of stock spam, but rather, since we received a write-up about PLTG in the latest <a href="http://otcjournal.com" target="_blank">OTC Journal[/url]. The OTCJ editor says PLTG is one of three penny stocks he/she covers. Not sure what the other two are.

PLTG apparently had some breakout volume for no obvious reason and closed at $0.04, a monthly high, in spite of the broader market chaos. The editor points to progress at Kentucky drilling sites -- disclosure that 4 of 10 wells are now in daily production. The potential is in the other 6 coming online. The big concerns however with Platina are if it raises capital and thus the dilution to existing shareholders. Not much wiggle room at $0.04/share!

Plantina's (PLTG) trading range over the past year is $0.02 - $0.29. Platina's predecessor companies include Federal Security Protection Services, Web4boats.com, Webboat.com, and the New York Bagel Exchange (dating back to 1999, <a href="http://pinksheets.com/pink/quote/quote.jsp?symbol=pltg#getCompanyInfo" target="_blank">according to PinkSheets.com[/url]).

Any readers want to comment on the potential of PLTG? Bullish/bearish takes? How about with oil now at the $67-level after peaking in July around $147?<div class="blogger-post-footer"><img src="http://www.pheedo.com/img.phdo?x=927d9129d40649cb91cd0a23dcd7330f&u=spam-list" border="0"/></div>
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