Petromanas Energy Inc.

 

Petromanas Energy Inc. has engaged Macquarie Tristone to seek proposals to divest a portion of its working interest in Blocks A and B, Blocks D and E and Blocks 2 and 3 within Albania. Petromanas holds 100% working interest in these six exploration blocks. Numerous structural features have been identified with newly acquired seismic, reprocessing the existing seismic as well as detailed structural section construction. Highlights of this opportunity are: 

  • Strategic early stage opportunity targeting significant oil resource in Albania with a proven active hydrocarbon system
  • Petromanas holds 100% working interest in six onshore Blocks (Blocks A and B, Blocks D and E and Blocks 2 and 3) covering 1.436 million acres
  • Albania contains a proven world class resource with the largest onshore oil field in Europe, Patos Marinza (Pmean OOIP 5.7 billion barrels)
  • Several producing onshore analogous carbonate oil fields in Albania include the Amonica, Visoka, Ballshi, Cakran and Gorisht fields (cumulative production to date of 200 MMbbl) 
  • Extensive 2-D seismic database with over 1,400 km of recently acquired and/or reprocessed data 
  • Portfolio of high impact exploration opportunities in highly fractured, sub-thrust, massive carbonates of Cretaceous to Eocene age. Drill depths to the top of carbonate reservoir range from 1,200 to 5,000 m 
  • Six oil prospects have been identified on seismic, representing significant resource potential 
  • Additional leads in both carbonate and clastic reservoirs have also been identified 
  • The Shpiragu prospect is a light oil discovery (37° API) within Block 2 
  • Excellent contract terms in a stable political environment with attractive fiscal terms 
  • Excellent access to European markets; ability to export 100% of production 
  • Environmental assessments are required for each prospect and are underway 

Data Rooms available late August 2011 with proposals due Thursday, November 17, 2011