To OTC Journal Members:
 

Platina Updates Production

I'm sure most of you saw crude hit an all-time high today above $143.00 a barrel. We're truly living a historical period in time we'll likely never forget. With the price of gas and every other form of energy literally skyrocketing, it obviously isn't doing much for the rest of the market, but it should do wonders for E & P plays out there like our recent profile on Platina Energy Group...more on that in a moment.

Energy is just flat out getting goofy and technically, we don't see it coming back to reality anytime soon. $150 a barrel seems inevitable and $180 to $200 is not out of the question, not yet anyway. So, I hope many of you took our suggestion of playing the broader markets to the short side. Until proven otherwise, or until we reach certain technical levels we have charted, we'll continue to get short the major indexes on rallies. There's just no sense in fighting the trend for now and it's one way to make some money in the short run while hedging our longer term investments in the process. Stay tuned in to our newsletter and blog because when it's time to switch gears, it will likely be fast and furious and you don't want to miss out on a potential reversal alert. I don't know of too many other publications out there that have been able to correctly call the markets like we have of late.

Now back to Platina. Just after the close today, the Company provided an update on their recent field production. Since PLTG has become of significant interest to many of us, here are my thoughts on today's news... I see this as a twofold victory for current shareholders. First, I'm a huge advocate of shareholder communications. When management is willing to surface and update its current and prospective shareholders with corporate performance, it should always be viewed as a positive in my opinion, regardless of the news. Secondly, in Platina's case, it appears production is ramping up nicely, just as we suspected. No doubt, a win win scenario. The Company reported a daily natural gas production increase of 200mcf for the week ending June 29, 2008. Estimated net oil production for the same week was 100-200 barrels. The press release in its entirety has been provided below for your review.

I'm really starting to think things are shaping up nicely for Platina. If the Company can continue to execute and deliver on their revenue projections, it's only a matter of time before we should see these projections built into the stock price. With over four million in projected revenues, the Company being a player in the hottest sector of the market right now and the recent shakeout of weak hands in the stock, PLTG should be primed for a nice move up the charts. If you were thinking of taking a position in PLTG, I think current levels may prove prudent. After some significant volatility early last week, the stock has managed to settle into a fairly tight range between $.125 and $.14 cents. A good solid break to the upside and we may be off to the races. Time will tell. I'm still going to sit tight on a new SSL for now, as I'd like to continue to watch the price action in PLTG for a bit longer.
 

Is the Pickle Bottoming?

After reviewing the charts from last week and digging into a few other areas, I'm inclined to say yes. There still doesn't appear to be any other rational reason for the short selloff last week other than some sellers probably needed the money. Did their baby need a new pair of shoes? The liquidity was there, so they took money off the table. I also think it's important to consider how well SPKL has held up in the midst of a total market meltdown of late.

The Company appears to continue to deliver on all fronts and I've learned to love it when things get abnormally quiet in a stock chart, especially when things appear to be going so well, much like SPKL has of late. Ever since mid April, SPKL has quietly traded sideways up until last week. However, last week's low of $.69 cents was met with a pretty firm bid, so I suspect there were some value players jumping into the Pickle looking for a good entry in the stock, or some current holders looking to lower their cost average. Regardless, both theories are completely understandable actions for savvy investors. Also, I'm not too concerned because if you're an avid reader of our publication, then you'll know we're big fans of picking up stocks when either nobody wants them, or a nice little fire sale takes place for no apparent reason.

If SPKL can find its way back to the $.80 - $.90 cent range soon and start gaining some traction, I think it should be viewed as a positive from a technical prospective. Take a look at a weekly chart of SPKL here. I've included the 3/8 and 5/8 retracement levels from its high back in October to the recent bottom the stock put in back in April. A good head of steam should send shares of SPKL testing the 3/8 retracement level of $1.18. That would be a nice little gain from current levels. A gain you won't likely find in the S & P for the year.
 

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MarketByte LLC has been paid a fee of $30,000 and 10,000 newly issued Series D Convertible Preferred shares by Platina Energy for coverage of the company. The Series D convertible preferred is convertible into 1 million newly issued restricted shares in Platina Energy Group.

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