Petromanas provides update on Shpirag-2 well and seismic program on Blocks 2-3

Petromanas provides update on Shpirag-2 well and seismic program on Blocks 2-3 
CALGARY, April 22, 2013 /CNW/ - Petromanas Energy Inc. ("Petromanas", or the 
"Company") (TSXV: PMI) today announced that it has cased the Shpirag-2 well to 
the top of the main objective carbonate reservoir at a depth of 5,164 metres. 
The Company set casing from the previous casing depth of approximately 4,750 
metres to put the lower zone of unstable flysch shale behind pipe. The well is 
currently drilling ahead in the upper carbonate zone at a depth of 
approximately 5,200 metres. 
"Successfully casing to this point means we can turn our attention to the 
carbonate target zone, without having to worry about instability higher in the 
hole," said Mr. Glenn McNamara, CEO of Petromanas. "We and our partner remain 
committed to drilling the target carbonate zone to a sufficient depth so we 
can run logs and gather sufficient information to assess the potential of this 
prospect." 
Total costs to drill the well to this point are approximately US$60 million or 
US$17 million net to Petromanas. Management estimates the total costs to drill 
the well to the target depth of 5,800 metres at approximately $67 million 
gross. The logistics planning and sourcing for the Shpirag-2 completion / 
testing program is in the final stages and will be mobilized once the well 
reaches total depth. 
Petromanas today also announced that the 2013 seismic program on Blocks 2-3 is 
underway and that its contractor, Geotec SpA of Italy, has initiated survey 
work and the drilling of shot holes. Recording commenced on the 15th of April 
2013. Under the terms of the Company's Farm-Out Agreement with Royal Dutch 
Shell, the Company will be carried on the first $20 million expended on the 
Blocks 2-3 seismic program, including the test line which was shot in 2012 and 
which is currently being processed. Any costs in excess of that amount will be 
shared equally by both parties. 
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 three Production Sharing Contracts ("PSCs") 
with the Albanian government. Under the terms of the PSCs, Petromanas has a 
100% working interest in Blocks A, B, D, and E and a 50% working interest in 
Blocks 2 and 3 that comprise more than 1.4 million gross acres across 
Albania's Berati thrust belt. Petromanas also holds exploration assets in 
France and Australia. For further information please contact: 
These press releases contains forward-looking information within the meaning 
of applicable securities laws and are based on the expectations, estimates and 
projections of management of Petromanas as of the date of this news release 
unless otherwise stated. The use of any of the words "expect", "anticipate", 
"continue", "estimate", "objective", "ongoing", "may", "will", "project", 
"should", "believe", "plans", "intends" and similar expressions are intended 
to identify forward-looking information. More particularly and without 
limitation, this press release contains forward-looking information concerning 
the future performance of the Company, including but not limited to the 
drilling, casing and testing of the Shpirag-2 well and the Company's current 
exploration activities, including the 2013 seismic program on Blocks 2-3. In 
respect of the forward-looking information concerning the future performance 
of the Company, Petromanas has provided such in reliance on certain 
assumptions that it believes are reasonable at this time, including 
assumptions as to the timing and drilling of wells and the Company's ability 
to meet its operational commitments, the ability of Petromanas to receive, in 
a timely manner, the necessary regulatory and governmental operational 
approvals; and expectations and assumptions concerning, among other things: 
commodity prices and interest and foreign exchange rates; planned synergies, 
capital efficiencies and cost-savings; applicable tax laws; the sufficiency of 
budgeted capital expenditures in carrying out planned activities; and the 
availability and cost of labour and services. Accordingly, readers should 
not place undue reliance on the forward-looking information contained in this 
press release. 
Since forward-looking information address future events and conditions, by 
their very nature they involve inherent risks and uncertainties. Actual 
results could differ materially from those currently anticipated due to a 
number of factors and risks. These include, but are not limited to the risks 
associated with the industries in which Petromanas operates in general such as 
operational and exploration risks; delays or changes in plans with respect to 
growth projects or capital expenditures; delays in obtaining governmental 
approvals, permits or financing or political risks in the completion of 
development or construction activities; access to drilling rigs, seismic 
equipment and operational personnel; costs and expenses; political risks; 
title disputes; health, safety and environmental risks; commodity price, 
interest rate and exchange rate fluctuations; environmental risks; 
competition; ability to access sufficient capital from internal and external 
sources; and changes in legislation, including but not limited to tax laws and 
environmental regulations. There is a specific risk that the Company may be 
unable to complete the drilling, completion and testing of the Shpirag-2 well 
at costs estimated and in the manner described in this press release or at 
all. If the Company is unable to drill, complete and test the Shpirag-2 well 
at costs estimated and in the manner described in this press release or at all 
there could be a material adverse impact on the Company and on the value of 
the Company's securities. Consider adding: There is also a specific risk that 
the Company may be unable to complete the 2013 seismic program on Blocks 2-3 
at costs estimated and in the manner described in this press release or at all. 
Readers are cautioned that the foregoing list of factors is not exhaustive. 
Additional information on other factors that could affect the operations or 
financial results of Petromanas are included in reports on file with 
applicable securities regulatory authorities, including but not limited to; 
Petromanas' Annual Information Form for the year ended December 31, 2011 which 
may be accessed on Petromanas' SEDAR profile at www.sedar.com. 
The forward-looking information contained in this press release is made as of 
the date hereof and Petromanas undertakes no obligation to update publicly or 
revise any forward-looking information, whether as a result of new 
information, future events or otherwise, unless so required by applicable 
securities laws. 
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. 
Glenn McNamara, CEO Hamid Mozayani, COO Bill Cummins, CFO Petromanas Energy 
Inc. Suite 1720, 734 - 7th Avenue SW Calgary, Alberta Canada T2P 3P8 Tel: +1 
403 457 4400 Fax: +1 403 457 4480 Email:info@petromanas.com 
Website:www.petromanas.com 
Nick Hurst The Equicom Group 300 - 5th Avenue SW, 10th Floor Calgary, Alberta 
Canada T2P 3C4 Tel: +1 403 218 2835 Fax: +1 403 218 2830 
Email:nhurst@equicomgroup.com   
SOURCE: Petromanas Energy Inc. 
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CO: Petromanas Energy Inc.
ST: Alberta
NI: OIL FIELD  
-0- Apr/22/2013 21:00 GMT
 
 
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