Overview
Petromanas Energy Inc. ("Petromanas" or the "Company") is an international oil and gas company focused on the exploration and development of its assets in Albania that possess world-class resource potential. The Company's shares are listed on the TSX Venture Exchange under the symbol "PMI".Through its wholly-owned subsidiary, Petromanas holds three Production Sharing Contracts ("PSCs") with the Albanian government. Under the terms of the PSCs, Petromanas has a 100% working interest in six onshore blocks (Blocks A, B, D, E, 2 & 3) that comprise more than 1.4 million acres across Albania's Berati thrust belt.
Petromanas' acreage lies within a proven hydrocarbon system. There are nine existing oil fields within Blocks 2 & 3, including the largest onshore oil field in Europe, Patos-Marinza, discovered in 1928 and currently operated by Bankers Petroleum Ltd. The existing fields are excluded from the area covered by Petromanas' PSCs.