BAAR, SWITZERLAND, June 9 /CNW/ - Petromanas Energy Inc. ("Petromanas") (TSX-V: PMI) is pleased to announce that it has appointed Mr. Hamid Mozayani as Chief Operating Officer effective June 7th, 2010.
Mr. Mozayani has over 38 years of oil and gas production experience relating to drilling, well completions, well servicing, production engineering and production operations in Canada, USA, Europe, Far East and the Middle East. Mr. Mozayani received his Bachelors of Science degree in Petroleum Engineering from Abadan Institute Of Technology, Iran in 1972. In the past 25 years he has held various technical, operational and managerial positions with ExxonMobil including responsibility for offshore and onshore drilling operations around the globe. His international experience combined with his ability to provide leadership for oil field development and commercial operations will prove him to be a valuable asset to the Company. Mr. Mozayani's specific experience with ExxonMobil corporation has shown his ability to design and execute drilling programs to boost production and ensure an efficient employment of capital and advanced technology.
Erik Herlyn, CEO comments: "We are pleased that we have found with Hamid Mozayani a world class senior professional, whose exceptional track record covers all of Petromanas operational activities."
Jeffrey Scott who has been acting as Interim Chief Operating Officer, has resigned this position to make way for Mr. Mozayani. Mr. Scott remains a director of the Company.
Petromanas granted Mr. Mozayani options to purchase an aggregate of 1,500,000 shares at an exercise price of $0.40 per share for a period of ten years from the date of grant with vesting terms over a 3 year period.
Petromanas is in the process of augmenting its existing management team in order to advance the exploration activities of the 6 blocks in Albania. Petromanas is currently acquiring seismic data on its blocks in Albania prior to finalizing a drill program.
About Petromanas Energy Inc.
Petromanas is an international oil and gas company focused on the exploration and development of its assets in Albania that possess world-class resource potential. Petromanas, through its wholly-owned subsidiary, holds three Production Sharing Contracts ("PSCs") with the Albanian government. Under the terms of the PSCs, Petromanas has a 100% working interest in six onshore blocks (Blocks A, B, D, E, 2 and 3) that comprise more than 1.7 million acres across Albania's Berati thrust belt.
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SOURCE Petromanas Energy Inc.
For further information: For further information: Gordon Keep, Corporate Secretary, Petromanas Energy Inc., Phone: (604) 609-6110, Fax: (604) 609-6145, Website: www.petromanas.com; Vanguard Shareholder Solutions, Tel: (604) 608-0824, Toll Free: 1-866-918-0824