CALGARY, Aug. 1, 2013 /CNW/ - Petromanas Energy Inc. ("Petromanas", or the "Company") (TSXV: PMI) today announced that it has granted 3,000,000 stock options, including 2,000,000 stock options to officers of Petromanas, pursuant to the Corporation's approved stock option plan. The options are exercisable at a price of $0.15 per share and vest annually over three years. All options expire on July 26, 2018. 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 100% working interest in Blocks D and E and a 25% working interest in Blocks 2-3 (assuming closing of the amended agreement with Shell) that comprise more than 1.1 million gross acres across Albania's Berati thrust belt. Petromanas also holds exploration assets in France and Australia. For further information please contact: 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. Glenn McNamara, CEO 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:email@example.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:firstname.lastname@example.org To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/August2013/01/c3098.html CO: Petromanas Energy Inc. ST: Alberta NI: OIL -0- Aug/01/2013 21:00 GMT
Petromanas Energy Inc. Announces Grant of Stock Options
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