Attached files
| file | filename |
|---|---|
| 8-K - PLATINUM ENERGY RESOURCES INC | v209776_8k.htm |
| EX-99.1 - PLATINUM ENERGY RESOURCES INC | v209776_ex99-1.htm |
Exhibit
99.2
Chairman
and the Board of Directors
Platinum
Energy Resources
Gentlemen,
Please be
advised that, due to medical reasons, effective February 1st, 2011, I will
resign my position as a CEO of Platinum Energy Resources.
I have
enjoyed working with every one of you and appreciate all the support I have
received from the Board members in my efforts to improve Platinum and its
subsidiaries. While we had differences at times, all in all we did our
utmost to handle the company's challenges. For this I thank you
all.
When I
joined the company in March of 2009, the company was facing a variety of
problems and challenges including an overdrawn line of credit of approximately
$14 million with a non cooperating financial institution. The first order of
business was to consolidate the operation and assign qualified staff to
effective positions. To simplify and create accountability, I divided our field
operations into two geographic areas of east and west regions. I appointed
two loyal and knowledgeable individuals as superintendent of each region. By
refining and consolidating the operation I created a positive cash flow for the
company.
In late
October I had a heart attack and had to go through cardiac surgery and a related
rehabilitation program. In November, I turned over the operation to an interim
management team and at that time the company's bank loan was down to
approximately to $5.3 Million and the company had over $3 Million dollars in the
current account.
I am
confident that with the knowledgeable management team and visionary Board of
Directors, Platinum has a great future.
It is my
intention to remain an active board member and to contribute to the success of
Platinum Energy Resources.
Respectfully
Submitted
Al
Rahmani