My trusted friend Jonathan Roth helped Petromanas Energy make a must watch mini-documentary about oil in Albania, and the company’s exploration activities there in partnership with Royal Dutch Shell, which has just been released today to coincide with the company’s Annual General Meeting.
Watch the video: Albania: The World’s Next Big Oil Play? Petromanas Energy
I was with Jonathan in Albania when he took some of the initial footage for the film in late 2012, but unfortunately complications from the first well, Shpirag-2, postponed the video, but I am very pleased to see that with the company’s positive progression at their follow up well, Molisht-1, they are finally starting to tell their powerful story, and it’s clearly resonating with the stock market.
Shares in Petromanas have climbed from as low as $0.105 in November, 2013 (we actually bought at that price then), reaching a multi year high of $0.37 this morning on the back of a drilling update from the company Tuesday, and a $0.45 price target from Haywood Securities energy analyst Darrell Bishop Wednesday (PMI closed at $0.325 today). Expectations for the company’s Molisht-1 well, set for testing in Q3 2014, are clearly rising, and the market is also considering the potential that the large structures under Albania’s oil blocks 2-3 could be one massive structure.
Petromanas is a very high risk, high reward play and the stock is not for the faint of heart, especially ahead of results from the Molisht-1 well. The video however is well worth a watch for anyone interested in the global energy business.
And if the Molisht-1 well is the gusher that so many hope it is, watch out for this little stock and this little, beautiful country. Both will never be the same.
Well done Jonathan on this must watch film – a full cut above other corporate videos, and congrats to the earnest executives at Petromanas for putting together such a dynamic opportunity. Fingers crossed for their continued success.
I own a lot of shares in the company which makes me biased. Always do your own due diligence.