BAAR, Switzerland, March 31 /CNW/ - Petromanas Energy Inc. ("Petromanas") (TSX-V: PMI) is pleased to announce that is has appointed Mr. Jeffrey Scott as an Interim Chief Operation Officer effective April 1st 2010. Mr. Scott is currently a director of Petromanas Energy Inc. He is a founder and Chairman of Gran Tierra Energy and has over 27 years experience in the oil and gas industry. Mr. Scott will assume this role until a full time COO is hired. Petromanas is in the process of augmenting its existing management team over the coming months in order to advance the exploration activities of the recently acquired 6 blocks covering the majority of Albania's relevant exploration acreage.
Petromanas is currently preparing a 2-D seismic project to further define and analyze the structural definition of the West Rova and Papri prospects. This seismic will add to the geological information from 1400 KM of existing seismic in the blocks D and E which was acquired by previous exploration campaigns and partly reprocessed by Manas Petroleum.
Erik Herlyn, CEO comments: "We are pleased that Jeffrey Scott, who has an exceptional track record of building companies and running operations is taking over an executive role during this important phase of Petromanas. The company will recruit world class professionals to fill out our management team as we begin the exploration phase on our high impact Albanian acreage."
The foregoing information may contain forward-looking information relating to the future performance of the Company. Forward looking information is subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Such risks and other factors include, among others, the actual results of exploration activities, changes in world commodity markets or equity markets, the risks of the petroleum industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes, change in government and changes to regulations affecting the oil and gas industry, and other risks and uncertainties detailed from time to time in the Company's filings with the Canadian securities administrators (available at www.SEDAR.com). Forward-looking statements are made based on various assumptions and on management's beliefs, estimates and opinions on the date the statements are made. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information contained herein. The Company undertakes no obligation to update forward-looking statements if these assumptions, beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.
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: For further information: Erik Herlyn, President, Chief Executive Officer, Petromanas Energy Inc., Bahnofstrasse 9 P.O. Box 155, CH-6341 Baar, Switzerland, Phone: +41 44 718 10 30, Fax: +41 44 718 10 39, Email: email@example.com; Vanguard Shareholder Solutions, Tel: (604) 608-0824, Toll Free: 1-866-918-0824