Platino Energy Corp. provides an update on its operations, including an increase in its working interest in two of its exploration properties. The Company also provides a financial update as at the period ended March 31, 2013 and confirms the filing of its financial statements and management's discussion and analysis (MD&A) for the three months ended March 31, 2013.

Platino has agreed with its partner, Canacol Energy Ltd. (Canacol), to amend the terms of the existing farm-out agreement on the Company's Coati block, located in the Putumayo basin of Colombia. Under the previous agreement, Canacol would have earned a 40% working interest in return for paying 80% of the costs of one exploration well plus an additional amount for seismic. Under the revised agreement, the terms of the arrangement have been reduced by half, resulting in Platino retaining an 80% working interest in the block and Canacol's participation being reduced by half to 20% working interest in return for paying 40% of one exploration well plus an additional amount for seismic.

Tags: Platino Energy Corp.