Petromanas announces sale of shares by DWM
CALGARY, March 5, 2014 /CNW/ - Petromanas Energy Inc. ("Petromanas" or the "Company") (TSXV: PMI) has been advised that DWM Petroleum AG ("DWM"), previously the company's largest shareholder, today disposed of 40 million common shares at market prices, primarily to institutional investors purchasing through Haywood Securities Inc. One of the Company's directors acquired an aggregate of 10 million of these common shares. Following the disposition, DWM has advised the Company that they currently retain 8.5 million common shares of Petromanas or approximately 1% of the Company's issued and outstanding shares
Petromanas Energy Inc. is an international oil and gas company focused on the exploration and development of its assets in Albania. Petromanas, through its wholly-owned subsidiary, holds two Production Sharing Contracts ("PSCs") with the Albanian government. Under the terms of the PSCs, Petromanas has a 100% working interest in Blocks D and E and a 25% working interest in Blocks 2-3 that comprise more than 1.1 million gross acres across Albania's Berati thrust belt. Petromanas also holds exploration assets in France and Australia.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Petromanas Energy Inc.For further information:
Glenn McNamara, CEO
Bill Cummins, CFO
Petromanas Energy Inc.
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Tel: +1 403 457 4400
Fax: +1 403 457 4480
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