Petromanas provides Albanian operational update

CALGARY, Sept. 24, 2013 /CNW/ - Petromanas Energy Inc. ("Petromanas" or the 
"Company") (TSXV: PMI) today provided an update on its exploration activities 
on Blocks 2-3 onshore Albania. 
Operational Update 
The Shpirag-2 well reached total depth of 5,547 meters in late June and the 
Company subsequently set the production liner and released the rig on July 13. 
Lease and tankage preparation has been underway since the rig was moved off 
the Shpirag-2 lease in mid-August. Testing equipment has arrived in country 
and is currently being rigged up. Testing operations will commence immediately 
following completion of rig up. The Company intends to conduct a controlled 
test of approximately 350-400 metres of the target carbonate zone with test 
duration dictated by a number of factors, including surface equipment 
capacity. The test is expected to include a 30-day pressure build-up after an 
initial flow test and acidization of the well. Results of testing are expected 
in the fourth quarter. 
The Molisht-1 well was spud August 20, 2013 and conductor and surface casing 
has been set. The well is drilling ahead at a depth of approximately 600 
metres. The Company expects to drill the well to a total depth (TD) of 
approximately 5,500 metres and drilling operations are expected to take 
approximately nine months from spud. Petromanas' estimated net drilling cost 
is USD $3 million. 
Blocks 2-3 Seismic Program 
The investigation conducted by the Investigation Board of the Albanian 
Ministry of Transport following the helicopter incident involving a third 
party contractor announced on August 13, 2013 was completed in late August and 
helicopter operations subsequently resumed. Shooting for the planned 2013 
seismic program is expected to conclude before the end of the year. 
"We are currently working to complete rig up of all necessary equipment so 
that we can start initial testing at Shpirag-2," said Mr. Glenn McNamara, CEO 
of Petromanas. "In the meantime, our drilling activities at Molisht-1 and our 
seismic program spanning Blocks 2-3 continue to move ahead in accordance with 
our expectations." 
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 
that comprise more than 1.1 million gross acres across Albania's Berati thrust 
belt. Petromanas also holds exploration assets in France and Australia. 
This press release contains forward-looking information within the meaning of 
applicable securities laws and is 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 
testing of the Shpirag-2 well, the drilling and cost of the Molisht-1 well and 
the timing and completion of the Company's 2013 seismic program. 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 construction activities, 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 addresses future events and conditions, by 
its very nature it involves 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, completion 
equipment, seismic equipment and operational personnel; costs and expenses; 
political risks; risks of litigation; 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 and Molisht-1 wells at costs estimated 
and in the manner described in this press release or at all. There is a 
specific risk that the Company may not be able to complete the 2013 seismic 
program in the timeframe estimated in this press release or at all. If the 
Company is unable to complete and test the Shpirag-2 well in the manner 
described or the drilling of the Molisht-1 well at the costs estimated or 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 
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 
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. 

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  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   
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CO: Petromanas Energy Inc.
ST: Alberta
-0- Sep/24/2013 11:00 GMT
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