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Filing Details

Accession Number:: 0000914121-10-000586
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2010-03-09 12:00:00
Reporting Period:: 2010-03-05

Filing Date:: 2010-03-09
Accepted Time:: 2010-03-09 17:18:42
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1329605	Platinum Energy Resources Inc	PGRI	Crude Petroleum & Natural Gas (1311)	141928384

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1429082	Syd Ghermezian	9440 West Sahara Avenue Suite 240 Las Vegas NV 89117		No	No	Yes	No
1465409	Pacific International Group Holdings Llc	9440 West Sahara Avenue Suite 240 Las Vegas NV 89117		No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock, Par Value $0.0001 Per Share.	Acquisiton	2010-03-05	933,130	$0.00	12,715,263	No	4	P	Direct
Common Stock, Par Value $0.0001 Per Share.	Acquisiton	2010-03-05	933,130	$0.00	12,715,263	No	4	J	Indirect	See footnotes

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Direct
No	4	J	Indirect	See footnotes

Footnotes

This is a joint filing by Pacific International Group Holdings LLC ("Pacific") and Syd Ghermezian (collectively, the "Reporting Persons"). (continued in footnote 2)
(continued from footnote 1) On March 5, 2010, Pacific agreed to acquire 933,130 shares of Common Stock from Barry Kostiner in exchange for a cash payment in the amount of $115,000 and a mutual release of all claims arising from previous agreements between Mr. Kostiner, on the one hand, and Pacific and certain of its affiliates, on the other hand, pursuant to a Mutual Release and Settlement Agreement. (continued in footnote 3)
(continued from footnote 2) The released claims against Mr. Kostiner included claims related to disputed indebtedness of Mr. Kostiner under a promissory note in the amount of $1.5 million. However, the Reporting Persons believe that the value of such indebtedness was significantly less than the principal amount thereof as it was highly unlikely that any of the principal amount could have been collected. (continued in footnote 4)
(continued from footnote 3) The ultimate economic interest in Pacific is held by certain members of the Ghermezian family through their direct or indirect ownership of various entities that own Pacific. Syd Ghermezian is the Manager of Pacific. As such, Mr. Ghermezian may be deemed to be the indirect beneficial owner with shared voting and dispositive power of the shares of Common Stock that Pacific may be deemed to directly beneficially own. Therefore, Mr. Ghermezian may be deemed to be the indirect beneficial owner with shared voting and dispositive power of the 933,130 shares of Common Stock that Pacific has agreed to acquire. (continued in footnote 5)
(continued from footnote 4) Pacific and Mr. Ghermezian may be regarded as a group. However, Pacific and Mr. Ghermezian disclaim beneficial ownership of the securities owned directly or indirectly by each other, except for their respective pecuniary interests therein. Pacific and Mr. Ghermezian also disclaim membership in any group. This filing shall not constitute an acknowledgement that either Pacific or Mr. Ghermezian is part of any group.