CALGARY, May 2, 2016 /CNW/ - Petromanas Energy Inc. ("Petromanas" or the "Company") (TSXV: PMI) today announced the planned termination of Glenn McNamara as Chief Executive Officer (CEO) and Bill Cummins as Chief Financial Officer (CFO), effective immediately. The departures are timed to coincide with the previously announced sale and wind down of the Company's operated activities in Albania.
"I want to sincerely thank Mr. McNamara and Mr. Cummins on behalf of the board for their leadership and dedication to Petromanas over the past five and a half years," said Verne Johnson, Chairman of the Board of Directors of Petromanas. "We wish Glenn and Bill every success in the future."
Mr. Verne Johnson, Chairman of the Board, will assume the duties of the CEO until the Albania funds are distributed to shareholders later in May, 2016 and a permanent successor is appointed.
Mr. Cummins will stay on as part time CFO until the first quarter 2016 financial statements are completed and a permanent successor is appointed.
About Petromanas Energy Inc.
Petromanas Energy Inc. is an international oil and gas company with exploration assets in France, including two exploration licenses (Ger and Ledeiux) totalling 169,790 net acres located in the gas-producing Acquitaine Basin.
Neither the 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: Gordon Keep, Petromanas Energy Inc., c/o Fiore Management and Advisory Corp., 595 Burrard St, Suite 3123 PO Box 49139, Vancouver, BC V7X 1J1, Tel: +1 604 609 6110, Email: firstname.lastname@example.org