Category: Albania
21 Posts
POSTED ON October 21, 2015 BY Jamie Keech

Almost exactly 2 years ago, CEO.CA correspondent Jamie Keech interviewed Liberal natural resources critic Geoff Regan about the party’s ideas on natural resources development, the environment, First Nations and more. The Liberal party won a majority of seats in Monday’s federal election and while Prime Minister-elect Justin Trudeau will not name a cabinet until Nov.… Continue Reading

POSTED ON May 22, 2014 BY Tommy Humphreys

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… Continue Reading

POSTED ON May 20, 2014 BY Tommy Humphreys

Petromanas Energy (PMI:TSXV) is a junior oil company exploring for light oil on shore in Albania in a partnership with energy super major Royal Dutch Shell. Earlier today the company’s shares closed at a multi-year high of $0.30, on the back of a slew of bullish analyst and newsletter coverage in recent weeks. After market today… Continue Reading

POSTED ON May 13, 2014 BY Tommy Humphreys

Petromanas Energy is drilling one of the most highly anticipated oil wells in the world today, the Molisht-1 well in Albania, which has the potential to transform the Calgary-based junior oil company, if good results hit the market in Q3 of 2014. Backed by noted resource financier and philanthropist, Frank Giustra, and partnered with energy… Continue Reading

POSTED ON May 04, 2014 BY Travis McPherson

By Frank Holmes CEO and Chief Investment Officer U.S. Global Investors Texas is oil country. The state I now call home leads the nation in oil production and would be one of the top oil-producing nations if it were its own country. But that doesn’t stop us from exploring other promising oil opportunities further afield.… Continue Reading

POSTED ON February 24, 2014 BY Keith Schaefer

Elephant hunting for huge international oil plays usually means going into (very) politically risky areas. That’s what makes junior Petromanas (PMI-TSXv) stand out from the crowd. They’re chasing a potential 500-800 million barrel target in Europe—Albania to be exact. Lots of energy investors are familiar with Bankers Petroleum and their heavy oil play there—it’s the… Continue Reading

POSTED ON January 29, 2014 BY Travis McPherson

Bankers Petroleum (BNK:TSX), the Calgary-based heavy oil producer, is Albania’s largest foreign direct investor.  The video focuses on Albania’s oil history as well as Bankers’ massive Patos-Marinza oilfield.  That oilfield is the largest ever discovered in continental Europe.  The company drilled 146 wells into the Patos-Marinza field in 2013 and expects to drill over 175 in… Continue Reading

POSTED ON January 09, 2014 BY Travis McPherson

After announcing an oil discovery at the Shpirag-2, which had initial flow rates of 1,500 to 2,200 barrels of oil equivalent per day (boe/d), Petromanas (PMI:TSXV) has informed the Albanian government, as per their Production Sharing Contracts, that Blocks 2-3 hold an oil discovery.  Given the success of the discovery at Shpirag-2, this announcement shouldn’t come… Continue Reading

POSTED ON January 07, 2014 BY Travis McPherson

Albania’s largest foreign direct investor, Bankers Petroleum (BNK:TSX) has released its fourth quarter production numbers for 2013, with average daily oil output growing by 4.1% quarter-over-quarter (q-o-q) to 19,303bopd.  The company produced an average of 18,169bopd over 2013 which represented 21% growth over 2012 average daily production of 15,020bopd.  Oil sales grew year-over-year as well with… Continue Reading

POSTED ON December 12, 2013 BY Travis McPherson

Albania’s largest foreign investor, Bankers Petroleum (BNK:TSX) is continuing to bet on its Albanian oilfields by announcing they intend to spend at least $313 million in capital next year up from the $247 million the company spent in 2013.  The bulk, $216 million, is to be spent on drilling 150 to 170 wells on the… Continue Reading

POSTED ON November 28, 2013 BY Travis McPherson

Yesterday, the Honourable Ed Fast, Minister of International Trade, announced that Canada and Albania have finalized negotiations on a foreign investment promotion and protection agreement (FIPA). Minister Fast made the announcement at Albania’s Independence Day reception in Ottawa.  A FIPA is a treaty designed to promote and protect Canadian investment abroad through legally binding provisions… Continue Reading

POSTED ON November 18, 2013 BY Travis McPherson

Coming off the recent discovery at the Shpirag-2 well, (25% WI with operatorship; Shell 75% non-operator), where they tested flow rates of 1,500-2,200boe/d and hit an 800m oil column; Petromanas (PMI:TSX) announced today they have added international depth to their board of directors by brining on Gen. Wesley K. Clark, U.S. Army (retired).  Gen. Clark retired a four-star… Continue Reading

POSTED ON November 05, 2013 BY Tommy Humphreys

Glenn McNamara’s Petromanas Energy had its heaviest volume day in history Tuesday. Over 59 million PMI shares traded hands, closing at $.13, up 13%, after the company announced positive testing results at their Shpirag-2 well yesterday (Read: Petromanas and Shell strike oil deep in Albania). Petromanas also announced this morning that Heinz J. Scholz and Werner Ladwein have… Continue Reading

POSTED ON November 04, 2013 BY Tommy Humphreys

Seventeen months after the Shpirag-2 well started drilling in Southern Albania, Petromanas Energy (TSXV:PMI) and joint venture partner Royal Dutch Shell have finally released testing results from the $75 million exploration well on Albania’s Blocks 2-3. PMI and Shell announced a discovery at Shpirag-2 today, with flow rates of 1,500 to 2,200 barrels per day… Continue Reading

POSTED ON September 24, 2013 BY Tommy Humphreys

Frank Giustra’s Petromanas Energy (TSXV:PMI), an oil and gas exploration company working on a joint venture with Royal Dutch Shell, has provided an update on its Albanian operations. PMI announced that a testing rig is currently being set up at the Shpirag-2 well site. Shpirag-2 was drilled to 5,547 meters in late June. PMI intends to… Continue Reading

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