The second well drilled by Appalachian Energy, a wholly owned subsidiary of Platina, will now enter the completion phase prior to production. According to Blair Merriam, President, "We have been on a roll since summer having drilled five (5) wells on time and on budget. As the completion processes continue, we will be adding to our production such that operational profitability is just around the corner-perhaps as early as next quarter."
Plans to move the drilling rig to the next well site in Tennessee have already begun. The Company asks investors to watch for additional announcements relative to production acquisition activity.
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