CALGARY,
Aug. 29, 2014 /CNW/ - Petromanas
Energy Inc. ("Petromanas", or the "Company") (TSXV: PMI) today
announced that it has granted 2,000,000 stock options to an
executive of Petromanas pursuant to the Corporation's approved
stock option plan. The options are exercisable at a price of
$0.40 per share with one third
vesting annually over a period of three years with the first
tranche becoming exercisable on August 27,
2015. All options expire on August
27, 2019.
About Petromanas Energy Inc.
Petromanas Energy Inc. is an international oil
and gas company focused on the exploration and development of its
assets in Albania. Petromanas,
through its wholly-owned subsidiary, holds two Production Sharing
Contracts ("PSCs") with the Albanian government. Under the
terms of the PSCs, Petromanas has a 25% working interest in Blocks
2-3 that comprise more than 850,000 gross acres across Albania's Berati thrust belt. Petromanas also
holds exploration assets in France
and Australia.
The foregoing information may contain
forward-looking information relating to the future performance of
the Company, including but not limited to the future resource
quantifications of the Company. Forward looking information is
subject to a number of known and unknown risks, uncertainties and
other factors that may cause actual results to differ materially
from those anticipated in our forward looking statements. Such
risks and other factors include, among others, the actual results
of exploration activities, changes in world commodity markets or
equity markets, the risks of the petroleum industry including,
without limitation, those associated with the environment, delays
in obtaining governmental approvals, permits or financing or
political risks in the completion of development or construction
activities, title disputes, change in government and changes to
regulations affecting the oil and gas industry, and other risks and
uncertainties detailed from time to time in the Company's filings
with the Canadian securities administrators (available at
www.SEDAR.com). Forward-looking statements are made based on
various assumptions and on management's beliefs, estimates and
opinions on the date the statements are made. Should one or more of
these risks and uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those described in the forward-looking information contained
herein. The Company undertakes no obligation to update
forward-looking statements if these assumptions, beliefs, estimates
and opinions or other circumstances should change, except as
required by applicable law.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Petromanas Energy Inc.