Document:

EXHIBIT 10.6

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 Executive Vice President 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 Executive 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 President and 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 H. Dorman
                                                     ---------------------------

                                                      /s/ James H. Dorman
                                                 -------------------------------
                                                            Signature

                                       3
<PAGE>

                                    EXHIBIT A

James H. Dorman has been our Executive Vice President since inception. He brings
with him 46 years of global experience in E&P. Since 2001, Mr. Dorman has been
involved in various advisory projects. He has been a member of the Board of
Directors for Transmeridian Exploration Inc., a public E&P company listed on the
American Stock Exchange, for the past three years. From 1996 through 2001, Mr.
Dorman formed a public Canadian exploration company, Doreal Energy, and with his
partners developed successful exploration projects in England, Columbia and
Portugal. From 1990 through 1995, Mr. Dorman advised Garnet Resources and
American International Petroleum on the development of South American E&P
assets, including the development of 1.5 mm acres in Columbia. From 1964 through
1989, Mr. Dorman held various positions at Tenneco. As Vice President of
Exploration for the South America Division, Mr. Dorman had responsibility for 28
commercial discoveries, including the giant San Francisco - Balcon and Colombina
oil fields, prior to Tenneco's acquisition by Shell. Mr. Dorman began his career
with Chevron in Louisiana in 1955. His diverse experience includes service as an
Army Medic for the National Guard in Korea in 1951-2. Mr. Dorman has a BS with
honors in Petroleum Geology from Mississippi State University and a MS in
Geology from the University of Missouri.EXHIBIT 10.7

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, officer 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 a member of the Board of Directors 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:   Albert Helmig
                                                     ---------------------------

                                                     /s/ Albert Helmig
                                                 -------------------------------
                                                             Signature

                                       3
<PAGE>

                                    EXHIBIT A

Albert Helmig has been a member of our board of directors since inception. Mr.
Helmig has over 35 years of experience in the commodity trading industry. Since
2000, Mr. Helmig has been a consultant in the commodity and energy trading
industry. From 1991 to 2000, Mr. Helmig served on the board of the New York
Mercantile Exchange (NYMEX), the world's largest energy exchange. From 1992 to
2000, Mr. Helmig served on NYMEX's executive committee and was also Vice
Chairman from 1998 to 2000. While at NYMEX, he chaired over twenty committees
including regulatory, clearing, contract design, control, delivery and marketing
committees. NYMEX experienced unprecedented growth during Mr. Helmig's tenure.
As chairman of marketing and vice chairman of the exchange, he was the global
spokesman for NYMEX for over ten years, representing the exchange with the
energy industry, foreign governments and exchanges at industry forums worldwide.
He was a member of NYMEX for 16 years and owned and operated the largest
independent floor execution service on NYMEX/COMEX with an international
clientele. Mr. Helmig is currently a Director of Optionable, a hybrid
voice-electronic broker matching trades in energy swaps, futures, and options,
which was founded by our chairman Mark Nordlicht. In addition, Mr. Helmig is the
founder and managing partner of Gray House, a private consultancy firm with a
global clientele ranging from producers, financial institutions, integrated
energy companies, merchant trading corporations, and government agencies. Mr.
Helmig holds BS degrees in Economics and Finance from Philadelphia Univesity.

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