Portfolio Loan Account Facility Letter



 Exhibit 10.17 
 Morgan Stanley Bank, N.A. 
 One Utah Center 

201 South Main Street, 5th Floor 
 Salt
Lake City, UT 84111 
 November 19, 2010 
  

			
	Platinum Energy Solutions, Inc.	  	
	2100 West Loop S Suite 1600	  	Account Number: ***-*******
	Houston, TX 77027	  	

 Dear Christine Spencer: 
 Morgan Stanley Bank, N.A., a national banking association, is pleased to inform you that your Portfolio Loan Account has been approved and is available for your immediate use. The Portfolio Loan
Account provides an efficient way to manager multiple securities-based loans under one flexible account. You can access your available credit through a Variable Rate Revolving Line of Credit, or establish a Standby Letter of Credit. PLA allows
you to effectively manage your financing needs under one account. 
 For your records, here are important details on your Portfolio Loan
Account: 
  

			
	 Borrower:
	  	Platinum Energy Solutions, Inc.
	 Loan Account Number:
	  	***-*******
	 Approved Facility Amount:
	  	$7,650,000.00
	 Interest Rate Spread:
	  	Corresponding PLA Index +2.50%

 Please remember 
  

	•	 	 Your actual available credit can change on a daily basis due to fluctuations in the value of your collateral, or draws taken on the Portfolio Loan
Account. 


  

	•	 	 There is a minimum initial draw of $25,001, which must be made by wire transfer. There is a minimum $100 requirement on subsequent draws on your
Variable Rate Revolving Line of Credit after this initial draw requirement is made. 


  

	•	 	 Once your minimum initial draw requirement is met, Morgan Stanley Bank, N.A. will send you a checkbook, allowing you to easily make future draws from
your Variable Revolving Line of Credit. 


  

	•	 	 Portfolio Loan Account proceeds cannot be used to purchase, carry or trade securities, or used to pay off a margin debt.










 If you have any questions, please do not hesitate to call our Client Service Center at 800-355-3086, or
contact your Morgan Stanley Smith Barney Financial Advisor to start using your Portfolio Loan Account today. 
 Sincerely, 

Morgan Stanley Bank, NA 








			
	Morgan Stanley Bank, N.A.	 	Portfolio Loan Account Statement

  

					
	Your Financial Advisor	 	Statement Date	  	09/30/11
	PAPPAS/MANN	 	Payment Date	  	10/01/11
	MORGAN STANLEY SMITH BARNEY	 	Account Number	  	[omitted]
	2200 WEST LOOP SOUTH SUITE 100	 	Total Minimum Payment	  	$4,642.09
	HOUSTON, TX         77027	 		  	
	1(713) 968-3000	 		  	

 PLATINUM ENERGY SOLUTIONS, INC. 

2100 WEST LOOP S SUITE 1600 
 HOUSTON TX 77027 
 Portfolio Loan Account (PLA) Summary for Account Number:
[omitted] 
  

									
	 PLA FACILITY LIMIT
	  	PLA BALANCE	 	  	PLA AVAILABLE CREDIT*	 
	 $8,800,000.00
	  	$	2,038,469.30	  	  	$	2,172,446.50	  

  

	 	*	 	PLA Available Credit at month end is equal to the loan value of the pledged collateral less outstanding loan balances and issued amounts on Letters of Credit. As
Available Credit can change daily, please call 1-800-355-3086 for a current value. 

 Variable Rate
Revolving Line of Credit Information 
 Loan Number: 00001 

 

																	
	 Payment Date
	  	Fees Assessed/
Unpaid	 	  	Current
Amount Due	 	  	Past Due
Amount	 	  	Minimum
Payment	 
	 10/01/11
	  	$	0.00	  	  	$	4,642.09	  	  	$	0.00	  	  	$	4,642.09	  

 Loan payments due will be satisfied by an automatic advance on your Variable Rate Revolving Line of Credit, subject to
Available Credit. Should you choose to pay down the balance on your Variable Rate Revolving Line of Credit, please return the bottom portion of this statement with your payment.