CALGARY, Aug. 29, 2014 /CNW/ - Petromanas Energy Inc. ("Petromanas", or
the "Company") (TSXV: PMI) today announced that it has granted
2,000,000 stock options to an executive of Petromanas pursuant to the
Corporation's approved stock option plan. The options are exercisable
at a price of $0.40 per share with one third vesting annually over a
period of three years with the first tranche becoming exercisable on
August 27, 2015. All options expire on August 27, 2019.
About Petromanas Energy Inc.
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 25% working interest in Blocks 2-3
that comprise more than 850,000 gross acres across Albania's Berati
thrust belt. Petromanas also holds exploration assets in France and
The foregoing information may contain forward-looking information
relating to the future performance of the Company, including but not
limited to the future resource quantifications 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 political risks 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:
Glenn McNamara, CEO
Bill Cummins, CFO
Petromanas Energy Inc.
Suite 1720, 734 - 7th Avenue SW
Canada T2P 3P8
Tel: +1 403 457 4400
Fax: +1 403 457 4480
The Equicom Group
300 - 5th Avenue SW, 10th Floor
Canada T2P 3C4
Tel: +1 403 218 2835
Fax: +1 403 218 2830