Good morning, Some news of note on a day when Syria is heating up, with Turkish fighter jets shooting down a Russian warplane the NATO member says ventured into its air space. The international incident comes after reports that much of the oil being produced on ISIS-controlled territory – both Russia and the U.S. have been… Continue Reading
Bad news for Petromanas Energy (PMI.tsxv) shareholders this morning, myself included. The company is exploring for oil on shore in Albania’s Berati thrust belt in a joint venture with Royal Dutch Shell, after their first well, Shpirag-2, made a discovery in late 2013. Petromanas has temporarily suspended the Molisht-1 well at 4200 meters depth, which… Continue Reading
Accomplished natural resources investor Frank Giustra has two long term investments in the junior energy sector, Colombian focused Petroamerica Oil (PTA.v), and European focused Petromanas Energy (PMI.v). Disclosure note, I own both of them. In early trading Monday, one of these companies was climbing strongly, while the other was heading in the wrong direction. Confirmed… Continue Reading
Roughly $70 million in market capitalization has been wiped off Petromanas Energy over the past two weeks, as shares in the Albanian focused oil and gas explorer have tumbled from $0.335 per share July 16th, 2014 to $0.235 at press time, despite no news over the same period. The company is currently drilling the Molisht-1… Continue Reading
The junior oil company drilling for a big prize in Albania and partnered with energy super major Royal Dutch Shell, Petromanas Energy, put out a news release this morning claiming encouraging logging-while-drilling results at its Molisht-1 well in Southern Albania. The well is located on blocks 2-3, in which Petromanas holds a 25-per-cent working interest and is… Continue Reading
With crude oil prices breaking out above $106/barrel this morning and many of the major integrated oil names overbought on multiple time frames investors may want to look to junior energy companies for additional upside this summer. While we remain bullish on Petromanas Energy longer term, 2 other companies are on our radar for more… Continue Reading
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
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
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
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
PMI data by YCharts Petromanas Energy (PMI:TSXV), which made a potentially massive onshore light oil discovery in Albania with their partner, the super-major Royal Dutch Shell, has updated the market on the drilling progress of their highly anticipated Molisht-1 well. The well is targeting a depth of 5,500m and has been successfully drilled to 3,270m. The… Continue Reading
It can be very hard for a stock to go up when there is a big seller. The market knows this has been the case for Petromanas Energy (TSXV:PMI), a high potential oil and gas explorer partnered with Royal Dutch Shell to look for oil in deep tanks on shore in Albania. Petromanas acquired its… Continue Reading
The $65 million market cap Petronova announced a farm-in deal with Pacific Rubiales that will see the tiny oil explorer carried for 4 wells in the largest untested prospect in Colombia, potentially worth as much as $4 billion (40% to Petronova), with drilling starting in this year’s second half. Plus: Petromanas, Petroamerica, Canacol and frontiers… Continue Reading
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
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
