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Recent Article: http://uk.reuters.com/article/2014/05/06/albania-crude-idUKL6N0NS55T20140506

The oil markets have been sucked down by OPEC, and this has had a devastating affect not only for energy stocks, but also the economies that rely on oil revenues. This particular JV, should skate thru this traffic quite easily, as it will not be impacted in any physical way, by the time that they are ready to pump oil the market will be up substantially based on what we speculate today. The buy out in my opinion will still occur between .45 and .70 Canadian, why not we know that the oil is there. At this give away prices, the stock is a bargain, for those that like a speculative investment,jmo.

Its to bad that they have stopped drilling at Molisht1, it seems that they are playing games, at least that is what some would have us believe, and as a result the drilling data from Molisht1 will be delayed until after the Albanians hold their auction next March 2015. At this point Shell does not want to help sell leases to itself by delivering drilling data from Molisht1. It seems that Shell thinks that any data from Molisht1 will help raise the price of leases being sold by the Government, thusly the sheared drill bit, is the reason to temporarily suspend the drilling and delay reporting to the government.

MAJOR SET BACK!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Petromanas suspends Molisht-1 drilling 2014-10-30 07:27 ET - News Release Mr. Glenn McNamara reports PETROMANAS PROVIDES UPDATE ON EUROPEAN ASSETS Petromanas Energy Inc. has provided an update on key operational and corporate initiatives for its European assets located in Albania and France. Albania Molisht-1 As announced in the press release dated Aug. 25, 2014, the company was drilling a sidetrack well targeting the lower carbonate reservoir. While drilling ahead, the drill bit became stuck in the lower flysch shale zone at a depth of approximately 4,700 metres. The bottom hole assembly was subsequently severed from the drill pipe and the well is currently ready to drill ahead from a depth of approximately 4,200 metres without losing hole diameter. In conjunction with its joint venture partner, Shell, Petromanas has decided to temporarily suspend the Molisht-1 well. The partners intend to re-enter the well in the future with a higher-powered rig to continue drilling to the lower carbonate reservoir with the goal of reaching target depth in the Cretaceous zone. The company is in the process of releasing the rig currently on site. "Having encountered challenges drilling the lower flysch shale below the upper Carbonate Eocene zone, the joint venture believes that the best option to reach the target depth with an optimally sized well bore is through the use of a more powerful rig," said Glenn McNamara, chief executive officer of Petromanas. "In the near term we intend to move ahead with drilling the Shpirag-3 appraisal well using the 3,000-horsepower rig we recently secured." The company previously announced that the Molisht-1 well had penetrated approximately 250 metres of Eocene carbonate. Hydrocarbons were present in the drill cuttings from the Eocene zone. Based on encouraging logging while drilling results in the upper Eocene carbonate, the company elected to run intermediate wireline logs. The bore-hole image analysis revealed sections within the Eocene containing natural fractures. With this information the company continues to be optimistic about the potential of both the upper Eocene carbonate and the lower carbonate zones to bear hydrocarbons and contain the natural fractures required to demonstrate productive capability. The prospective carbonate reservoirs in this structure are the Eocene, Paleocene and Cretaceous with the Cretaceous being the primary target. Blocks 2-3 Based on the costs associated with drilling the Shpirag-2 and Molisht-1 wells, management is currently in the process of identifying and reviewing all options to support the financial requirements of a longer-term appraisal and development of blocks 2-3. Initiatives currently under consideration include, but are not limited to, a further farm-down of Petromanas's working interest in blocks 2-3, the disposition of selected assets and raising additional capital. In addition, the company has retained Peters & Co. Ltd. to act as its financial adviser in connection with such review process. The review process is continuing and Petromanas does not intend to disclose developments with respect to the review process until the board of directors has approved a specific transaction or otherwise determines that disclosure is necessary or appropriate. "Securing the future development of the Albanian assets over the longer term requires exploring all funding alternatives to minimize dilution to the current shareholders," said Mr. McNamara. "We are evaluating a range of options that we believe can support development beyond the drilling of the third well envisioned in our current joint venture agreement with Shell." Under the terms of the amended definitive farm out agreement, Shell will carry Petromanas on a third well to a maximum value of $42.5-million (U.S.) gross drilling costs. The company holds a 25-per-cent working interest and is the operator with Shell holding the remaining 75-per-cent interest. France As previously announced, the company is working with Macquarie Capital Markets Canada Ltd. on a marketing initiative to support discussions with potential joint venture partners for its French assets. To this point, the company has received expressions of interest from multiple parties. Petromanas has a 100-per-cent working interest in both the Ledeuix and Ger permits. We seek Safe Harbor.

Independent REPORT http://seekingalpha.com/instablog/3957081-tullii/2853143-petromanas-fractures-may-indicate-fantastic-future-flow-rates

Over the next thirty days or so, key information will be released, that could move this stock by as much as 30cents or more. This includes reaching TD on their current well M-1, and receiving an arms-length report on the existing reserves at S2.In the following weeks the stock could move over $1.00 if, management thinks that they have a continues fairway of oil between S2 an M1 some 18 kilometers of oil, of course when this is fully tested and it is confirmed, the sky will be the limit.

Taken from Stockhouse BB (Excellent Summary) October 23, 2014 - 09:23 PM 331 Reads Post# 23056850 Rate this post 3.5 stars v Taken from Stockhouse: Next four months About four months from today, the warrants will come due, either providing PMI with $45 million in capital, or not, depending on whether the SP hits $.45. I am strongly betting that those warrants will be excercized. Here are the reasons. -PMI has committed to the heavier drilling rig, which is a large capital commitment for two years. -PMI is in partnership with Shell bidding on a new adjacent lease, if we accept what has been told to us in the annual meeting. -the auction for the adjacent lease is occurring in October, if we believe what has been written quoting officials. -information is not being released at present, obviously, even though an S2 update has been expected for some time. They are rereviewing it, if we believe what has been released by the company. -the compnay is not in control of the information flow at present, if we believe what was said at the annual meeting. Hence, the company will need the capital by next fall, if we believe Glenn's BNN interview. My view is information will be released before the end of November or mid-December to boost the SP to over .45. That is a triple from the current price, and likely a double for most long term investors who have held for a while. The downside risk at this point, is, in my mind, very low. PMI could sell next month for at least a double on the current price. The argument that the SP will fall by half to under .10 if M1 misses is not at all credible. PMI's share of S2, as already announced and which is already drilled, is worth at least .45 if we believe Oilbania's earlier estimates at $10 to $15 per boe of P2 reserves. In addition we know M1 already found hydrocarbons in the Eocene layer, which were not expected earlier. This is simply my own view of the short term. It says nothing about the long term. That has been discussed every which way already. Short term, I believe this is a triple from the current price by Feb 2015, for the reasons above. WC Read more at http://www.stockhouse.com/companies/bullboard/v.pmi/petromanas-energy-inc#KhGhHyGTiQWHC81l.99

Just for further information, Petromanus Energy trades in Canada on the Venture exchange with the symbol PMI it also has trading warrants with the symbol PMI.WT. V:PMI - Petromanas Energy Inc. - http://www.petromanas.com/

Petromanus and Shell are in the process of developing an elephant type oil find in Albania. 250MM barrels found in first well, currently drilling second well weeks away from reaching TD, probably another 250MM barrels. The site in Albania is a proxy for the 20MM barrels a day in Val d'Agri in Southern Italy.