Document:

EXHIBIT 10.4

June 3, 2005

Platinum Energy Resources, Inc.
152 West 57th Street, 54th Floor
New York, New York 10019

Casimir Capital LP
489 Fifth Avenue
New York, New York 10017

Re:   Initial Public Offering

Gentlemen:

      The undersigned stockholder and officer of Platinum Energy Resources, Inc.
("Company"), in consideration of Casimir Capital LP ("Casimir") entering into a
letter of intent, dated May 4, 2005 (the "Letter of Intent"), to underwrite an
initial public offering of the securities of the Company ("IPO") and embarking
on the IPO process, hereby agrees as follows (certain capitalized terms used
herein are defined in paragraph 11 hereof):

      1. If the Company solicits approval of its stockholders of a Business
Combination, the undersigned will vote all Insider Shares owned by the
undersigned in accordance with the majority of the votes cast by the holders of
the IPO Shares.

      2. In the event that the Company fails to consummate a Business
Combination within 18 months from the effective date ("Effective Date") of the
registration statement relating to the IPO (or 24 months under the circumstances
described in the prospectus relating to the IPO), the undersigned will take all
reasonable actions within the undersigned's power to cause the Company to
liquidate as soon as reasonably practicable. In such event, the undersigned
hereby waives any and all right, title, interest or claim of any kind in or to
any liquidating distributions by the Company, including, without limitation, any
distribution of the Trust Fund (as defined in the Letter of Intent) as a result
of such liquidation with respect to his Insider Shares ("Claim") and hereby
further waives any Claim the undersigned may have in the future as a result of,
or arising out of, any contracts or agreements with the Company and will not
seek recourse against the Trust Fund for any reason whatsoever.

      3. In order to minimize potential conflicts of interest which may arise
from multiple affiliations, the undersigned agrees to present to the Company for
its consideration, prior to the undersigned's exploitation of that opportunity
in any way or the presentation to any other person or entity, any suitable
opportunity to acquire an operating business in the oil and gas E&P industry or
any real property or related assets, until the earlier of the consummation by
the Company of a Business Combination, the liquidation of the Company or until
such time as the undersigned ceases to be an officer or director of the Company,
but subject, in each case, to any pre-existing fiduciary and/or contractual
obligations the undersigned might have.

      4. The undersigned acknowledges and agrees that the Company will not
consummate any Business Combination which involves a company which is affiliated
with any of the Insiders unless the Company obtains an opinion from an
independent investment banking firm reasonably acceptable to Casimir Capital LP
that the business combination is fair to the Company's stockholders from a
financial perspective.

                                       1
<PAGE>

      5. Neither the undersigned, any member of the family of the undersigned,
nor any Affiliate of the undersigned will be entitled to receive and will not
accept any compensation for services rendered to the Company prior to the
consummation of the Business Combination; provided that the undersigned shall be
entitled to reimbursement from the Company for his out-of-pocket expenses
incurred in connection with seeking and consummating a Business Combination.

      6. The undersigned agrees that neither the undersigned, any member of the
family of the undersigned, or any Affiliate of the undersigned will be entitled
to receive or accept, and the undersigned, on behalf of the undersigned and the
aforementioned parties, hereby waives any rights to, a finder's fee or any other
compensation in the event the undersigned, any member of the family of the
undersigned or any Affiliate of the undersigned originates a Business
Combination.

      7. The undersigned will escrow his Insider Shares for the three year
period commencing on the Effective Date, subject to the terms of a Stock Escrow
Agreement which the Company will enter into with the undersigned and an escrow
agent acceptable to the Company.

      8. The undersigned agrees to be a Vice President of the Company until the
earlier of the consummation by the Company of a Business Combination or the
liquidation of the Company. The undersigned's biographical information furnished
to the Company and Casimir and attached hereto as Exhibit A is true and accurate
in all respects, does not omit any material information with respect to the
undersigned's background and contains all of the information required to be
disclosed pursuant to Section 401 of Regulation S-K, promulgated under the
Securities Act of 1933. The undersigned's Questionnaire furnished to the Company
and Casimir is true and accurate in all respects. The undersigned further
represents and warrants to the Company and Casimir that:

            (a) he is not subject to or a respondent in any legal action for,
any injunction, cease-and-desist order or order or stipulation to desist or
refrain from any act or practice relating to the offering of securities in any
jurisdiction;

            (b) he has never been convicted of or pleaded guilty to any crime
(i) involving any fraud or (ii) relating to any financial transaction or
handling of funds of another person, or (iii) pertaining to any dealings in any
securities and he is not currently a defendant in any such criminal proceeding;
and

            (c) he has never been suspended or expelled from membership in any
securities or commodities exchange or association or had a securities or
commodities license or registration denied, suspended or revoked.

      9. The undersigned has full right and power, without violating any
agreement by which the undersigned is bound, to enter into this letter agreement
and to serve as a Vice President of the Company.

      10. The undersigned authorizes any employer, financial institution, or
consumer credit reporting agency to release to Casimir and its legal
representatives or agents (including any investigative search firm retained by
Casimir) any information they may have about the undersigned's background and
finances ("Information"). Neither Casimir nor its agents shall be violating the
undersigned's right of privacy in any manner in requesting and obtaining the
Information and the undersigned hereby releases them from liability for any
damage whatsoever in that connection.

      11. As used herein: (i) a "Business Combination" shall mean an
acquisition, by merger, capital stock exchange, asset or stock acquisition,
reorganization or otherwise and as otherwise described in the registration
statement relating to the IPO, of an operating business or real property assets
in the hospitality and related industries selected by the Company; (ii)
"Insiders" shall mean all officers, directors and stockholders of the Company
immediately prior to the IPO; (iii) "Insider Shares" shall mean all of the
shares of Common Stock of the Company owned by an Insider prior to the IPO; and
(iv) "IPO Shares" shall mean the shares of Common Stock issued in the Company's
IPO.

                                       2
<PAGE>

      12. The undersigned hereby agrees that any action, proceeding or claim
against the undersigned arising out of or relating in any way to this Agreement
shall be brought and enforced in the courts of the State of New York or the
United States District Court for the Southern District of New York, and
irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive.
The undersigned hereby waives any objection to such exclusive jurisdiction and
that such courts represent an inconvenience forum.

                                                 Name:    Richard Geyser
                                                     ---------------------------

                                                      /s/ Richard Geyser
                                                 -------------------------------
                                                          Signature

                                       3
<PAGE>

                                    EXHIBIT A

RICHARD GEYSER has been our Vice President since inception. Mr. Geyser has over
10 years of alternative investment-related experience. Since February 2004, Mr.
Geyser has been a Managing Director of Platinum Partners Value Arbitrage Fund, a
private investment partnership. From March 2003 to October 2003, he was a
Director of Capital Introduction at Paravane Partners, a division of Leeb
Brokerage Services. From February 2002 to February 2003, he co-founded two hedge
funds: Voyager Partners (options volatility and equity statistical arbitrage)
and Entropy Partners (equity statistical arbitrage). From 1996 through 2001, Mr.
Geyser was a Senior VP at BlueStone Capital Corp during which time his clients
financed dozens of publicly traded companies, including several energy-related
companies. Mr. Geyser received an MBA with High Honors from Thunderbird, the
American Graduate School of International Management and an A.B. cum laude from
Harvard College.EXHIBIT 10.5

June 3, 2005

Platinum Energy Resources, Inc.
152 West 57th Street, 54th Floor
New York, New York 10019

Casimir Capital LP
489 Fifth Avenue
New York, New York 10017

Re:   Initial Public Offering

Gentlemen:

      The undersigned stockholder and Director of Platinum Energy Resources,
Inc. ("Company"), in consideration of Casimir Capital LP ("Casimir") entering
into a letter of intent, dated May 4, 2005 (the "Letter of Intent"), to
underwrite an initial public offering of the securities of the Company ("IPO")
and embarking on the IPO process, hereby agrees as follows (certain capitalized
terms used herein are defined in paragraph 11 hereof):

      1. If the Company solicits approval of its stockholders of a Business
Combination, the undersigned will vote all Insider Shares owned by the
undersigned in accordance with the majority of the votes cast by the holders of
the IPO Shares.

      2. In the event that the Company fails to consummate a Business
Combination within 18 months from the effective date ("Effective Date") of the
registration statement relating to the IPO (or 24 months under the circumstances
described in the prospectus relating to the IPO), the undersigned will take all
reasonable actions within the undersigned's power to cause the Company to
liquidate as soon as reasonably practicable. In such event, the undersigned
hereby waives any and all right, title, interest or claim of any kind in or to
any liquidating distributions by the Company, including, without limitation, any
distribution of the Trust Fund (as defined in the Letter of Intent) as a result
of such liquidation with respect to his Insider Shares ("Claim") and hereby
further waives any Claim the undersigned may have in the future as a result of,
or arising out of, any contracts or agreements with the Company and will not
seek recourse against the Trust Fund for any reason whatsoever.

      3. In order to minimize potential conflicts of interest which may arise
from multiple affiliations, the undersigned agrees to present to the Company for
its consideration, prior to the undersigned's exploitation of that opportunity
in any way or the presentation to any other person or entity, any suitable
opportunity to acquire an operating business in the oil and gas E&P industry or
any real property or related assets, until the earlier of the consummation by
the Company of a Business Combination, the liquidation of the Company or until
such time as the undersigned ceases to be an officer or director of the Company,
but subject, in each case, to any pre-existing fiduciary and/or contractual
obligations the undersigned might have.

      4. The undersigned acknowledges and agrees that the Company will not
consummate any Business Combination which involves a company which is affiliated
with any of the Insiders unless the Company obtains an opinion from an
independent investment banking firm reasonably acceptable to Casimir Capital LP
that the business combination is fair to the Company's stockholders from a
financial perspective.

                                       1
<PAGE>

      5. Neither the undersigned, any member of the family of the undersigned,
nor any Affiliate of the undersigned will be entitled to receive and will not
accept any compensation for services rendered to the Company prior to the
consummation of the Business Combination; provided that the undersigned shall be
entitled to reimbursement from the Company for his out-of-pocket expenses
incurred in connection with seeking and consummating a Business Combination.

      6. The undersigned agrees that neither the undersigned, any member of the
family of the undersigned, or any Affiliate of the undersigned will be entitled
to receive or accept, and the undersigned, on behalf of the undersigned and the
aforementioned parties, hereby waives any rights to, a finder's fee or any other
compensation in the event the undersigned, any member of the family of the
undersigned or any Affiliate of the undersigned originates a Business
Combination.

      7. The undersigned will escrow his Insider Shares for the three year
period commencing on the Effective Date, subject to the terms of a Stock Escrow
Agreement which the Company will enter into with the undersigned and an escrow
agent acceptable to the Company.

      8. The undersigned agrees to be the Director of the Company until the
earlier of the consummation by the Company of a Business Combination or the
liquidation of the Company. The undersigned's biographical information furnished
to the Company and Casimir and attached hereto as Exhibit A is true and accurate
in all respects, does not omit any material information with respect to the
undersigned's background and contains all of the information required to be
disclosed pursuant to Section 401 of Regulation S-K, promulgated under the
Securities Act of 1933. The undersigned's Questionnaire furnished to the Company
and Casimir is true and accurate in all respects. The undersigned further
represents and warrants to the Company and Casimir that:

            (a) he is not subject to or a respondent in any legal action for,
any injunction, cease-and-desist order or order or stipulation to desist or
refrain from any act or practice relating to the offering of securities in any
jurisdiction;

            (b) he has never been convicted of or pleaded guilty to any crime
(i) involving any fraud or (ii) relating to any financial transaction or
handling of funds of another person, or (iii) pertaining to any dealings in any
securities and he is not currently a defendant in any such criminal proceeding;
and

            (c) he has never been suspended or expelled from membership in any
securities or commodities exchange or association or had a securities or
commodities license or registration denied, suspended or revoked.

      9. The undersigned has full right and power, without violating any
agreement by which the undersigned is bound, to enter into this letter agreement
and to serve as a member of the Board of Directors of the Company.

      10. The undersigned authorizes any employer, financial institution, or
consumer credit reporting agency to release to Casimir and its legal
representatives or agents (including any investigative search firm retained by
Casimir) any information they may have about the undersigned's background and
finances ("Information"). Neither Casimir nor its agents shall be violating the
undersigned's right of privacy in any manner in requesting and obtaining the
Information and the undersigned hereby releases them from liability for any
damage whatsoever in that connection.

                                       2
<PAGE>

      11. As used herein: (i) a "Business Combination" shall mean an
acquisition, by merger, capital stock exchange, asset or stock acquisition,
reorganization or otherwise and as otherwise described in the registration
statement relating to the IPO, of an operating business or real property assets
in the hospitality and related industries selected by the Company; (ii)
"Insiders" shall mean all officers, directors and stockholders of the Company
immediately prior to the IPO; (iii) "Insider Shares" shall mean all of the
shares of Common Stock of the Company owned by an Insider prior to the IPO; and
(iv) "IPO Shares" shall mean the shares of Common Stock issued in the Company's
IPO.

      12. The undersigned hereby agrees that any action, proceeding or claim
against the undersigned arising out of or relating in any way to this Agreement
shall be brought and enforced in the courts of the State of New York or the
United States District Court for the Southern District of New York, and
irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive.
The undersigned hereby waives any objection to such exclusive jurisdiction and
that such courts represent an inconvenience forum.

                                                 Name:    James E. Bashaw
                                                     ---------------------------

                                                     /s/  James E. Bashaw
                                                 -------------------------------
                                                            Signature

                                       3
<PAGE>

                                    EXHIBIT A

JAMES E. BASHAW has been a member of our board of directors since inception. He
is currently the CEO of James E. Bashaw & Co., a Houston based investment
advisory and financial services firm. Founded by Mr. Bashaw in November 2001,
his firm manages over $350 million for its clients. In March 1994, Mr. Barshaw
opened an office for Equitable Securities Corporation, an investment advisory
and financial services firm, in Nashville, Tennessee, becoming partner in 1997.
In March 1998, Mr. Bashaw founded the Galleria office of J.C. Bradford & Co., a
Nashville based brokerage and investment banking firm. The firm was sold to
Paine Webber in 2000, with Paine Webber subsequently acquired by UBS Financial
Services. Mr. Bashaw was employed by J.C. Bradford until November 2001. Under
the leadership of Mr. Bashaw, the Houston office became one of the top 10
profitable offices in Paine Webber/UBS. Mr. Bashaw brings extensive
relationships in the energy industry.

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