/NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/
CALGARY, March 26 /CNW/ - Platform Resources Inc. (TSXV: PFM) announces
that it will propose a name change to "Alberta Oil Sands Inc." at its Annual
General Meeting to be held in May 2007. The company will focus on the
exploitation and production of an in-situ Athabasca oil sands project.
The company also announces that it has accumulated, over a period of
time, a 100% working interest in 23 sections (14,720 acres) of contiguous oil
sands rights southwest of Ft. McMurray. Aggregate consideration paid for the
lands was approximately $3.0 million.
The prospective oil sand zone on these lands is the McMurray formation, a
sandstone layer deposited in an estuarine channel environment. The region has
multiple large SAGD (steam assisted gravity drainage) projects in various
stages of development, including production and is in close proximity to
existing services and infrastructure.
Further details will be disclosed in future announcements.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy and accuracy of this release.
Not for dissemination in the United States of America. This news release
shall not constitute an offer to sell or the solicitation of any offer to buy
securities of Platform in any jurisdiction, including the United States. The
common shares of Platform have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S. Securities Act")
or any state securities laws and have not been and will not be offered or sold
in the United States or to any U.S. person except in certain transactions
exempt from the registration requirements of the U.S. Securities Act and
applicable state securities laws.
For further information:
For further information: Platform Resources Inc., Suite 2800, 350 - 7th
Avenue S.W., Calgary, Alberta, T2P 3N9; Shabir Premji, T: (403) 232-3341, F:
(403) 263-6702, email@example.com