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

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

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

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

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

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

Shares in Petromanas Energy (TSX-V:PMI) are up approx. 65% since the Calgary-based, Albania-focused oil and gas explorer announced an operational update and Q2 results last Thursday. Petromanas is exploring Blocks 2-3 in Albania with super-major Shell (75%). At the Shpirag-2 target (pictured), PMI intends to conduct a controlled test of approximately 350-400 metres of the… Continue Reading

Frank Giustra-backed Albanian oil explorer Petromanas Energy (TSXV:PMI) was the subject of a Reuters article published last Thursday. Read: Much promise, little joy in Albania’s long search for oil (Reuters) “An oil explorer is like a hunter… He knows that in this region there are wild animals, but he doesn’t kill one every time.” Related: Petromanas amends farm out… Continue Reading

Petromanas Energy Inc. ($PMI), an Albanian-focused oil and gas explorer backed by Royal Dutch Shell, was discussed in the Energy Report recently by National Bank analyst Darrel Bishop. Highlights below. Shpirag-2 well site in Albania – Photo: Petromanas TER: One of the jurisdictions you follow is unusual —Albania. Can you explain the investment thesis and the current opportunities? DB:… Continue Reading

Schmooze or Lose. Obama doesn’t like cozying up to billionaires. Could it cost him the election? New Yorker Trust, empathy, mentorship. Three Leadership Traits That Never Go Out Of Style. HBR “This is not the time of your life you want to be easy.” @chris_reynolds — Tommy Humphreys (@tommyhump) August 20, 2012 Inmet secures US$1-billion… Continue Reading