PETROMANAS ENERGY INC (PMI-TSX Venture): INITIAL REPORT
Petromanas Energy Inc. has acquired 100% interest in three Albanian onshore oil and gas production sharing contracts containing six licence areas. Similar to Bankers Petroleum, the Endeavour Financial group is behind the formation of this Albania-located deal. Bankers and its shareholders enjoyed significant success with their Albanian oil field reworks, and while a very different type of play, Petromanas also has an exceptional risk-reward profile.
Petromanas’ acquisition is in a major onshore exploration area with P50 recoverable resources of 6.1 billion barrels net to Petromanas proved by drilling of a deep well by Occidental Petroleum, seismic exploration and independent, NI 51-101 compliant valuations. Petromanas paid less than 5 cents per recoverable barrel Market Valuation.
Growth Stocks Weekly Initial Report on Petromanas Energy Inc.
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