Last C$0.29 CAD
Change Today -0.015 / -4.92%
Volume 2.5M
PMI On Other Exchanges
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As of 3:59 PM 07/25/14 All times are local (Market data is delayed by at least 15 minutes).

petromanas energy inc (PMI) Snapshot

Open
C$0.31
Previous Close
C$0.31
Day High
C$0.31
Day Low
C$0.28
52 Week High
05/26/14 - C$0.40
52 Week Low
08/16/13 - C$0.08
Market Cap
201.2M
Average Volume 10 Days
1.4M
EPS TTM
C$-0.04
Shares Outstanding
693.7M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for PETROMANAS ENERGY INC (PMI)

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petromanas energy inc (PMI) Details

Petromanas Energy Inc., an exploration stage company, acquires, explores, and evaluates oil and gas properties in Albania, France, and Australia. The company holds a 100% working interest in Blocks D and E; and a 25% working interest in Blocks 2-3 covering a total area of approximately 1.1 million gross acres in Berati thrust belt, Albania. It also has exploration rights to approximately 1.6 million acres in the Canning Basin in northwest Australia, as well as holds 170,000 acres spanning two permits in Aquitaine Basin, France. The company was formerly known as WWI Resources Ltd. and changed its name to Petromanas Energy Inc. in February 2010. Petromanas Energy Inc. was incorporated in 1998 and is headquartered in Calgary, Canada.

37 Employees
Last Reported Date: 04/7/14
Founded in 1998

petromanas energy inc (PMI) Top Compensated Officers

Chief Executive Officer, Director and Member ...
Total Annual Compensation: C$320.0K
Chief Financial Officer, Corporate Secretary ...
Total Annual Compensation: C$270.0K
Vice President of Operations, Engineering & B...
Total Annual Compensation: C$157.6K
Vice President of Exploration
Total Annual Compensation: C$260.0K
Executive Advisor
Total Annual Compensation: C$87.2K
Compensation as of Fiscal Year 2013.

petromanas energy inc (PMI) Key Developments

Petromanas Energy Inc. Provides Update on Molisht-1 Drilling

Petromanas Energy Inc. provided a further update on the drilling of the Molisht-1 well onshore Albania. The well is located on Blocks 2-3, in which the company holds a 25% working interest and is the operator with Shell holding the remaining 75% interest. As previously announced the company encountered a carbonate structure at a depth of approximately 4,174 metres and elected to case and cement the well, putting approximately 900 metres of unstable flysch shale behind pipe prior to drilling ahead. The Molisht-1 well penetrated around 250 metres of Eocene carbonate section, before encountering a lower flysch shale 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. The prospective carbonate reservoirs in Albania are the Eocene, Paleocene and Cretaceous with the Cretaceous being the primary target. After considering a number of scenarios for the Molisht-1 well, the company is electing to drill ahead using the current bore hole. The Molisht-1 well is currently drilling ahead at a depth of approximately 4,650 metres. Petromanas plans to continue drilling through this section and now expects to drill the well to an estimated total depth of up to 6,000 metres. Based on progress made with further drilling, additional data acquisition and testing is planned to follow reaching total depth.

Petromanas Energy Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Announces Impairment for the First Quarter Ended March 31, 2014

Petromanas Energy Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company announced net loss of $25,294,000 or $0.04 per basic and diluted share compared to net income of $670,000 or $0.00 per basic and diluted share for the same period a year ago. Cash flows used in operating activities was $1,389,000 compared to $1,459,000 for the same period a year ago. Purchase of property and equipment was $4,000 compared to $139,000 for the same period a year ago. Exploration and evaluation expenditures were $394,000 compared to $10,041,000 for the same period a year ago. For the first quarter ended March 31, 2014, the company announced impairment of $22,895,000.

Petromanas Energy Inc. Provides Update on Molisht-1 Drilling

Petromanas Energy Inc. provided an update on the drilling of the Molisht-1 well onshore Albania. The well is located on Blocks 2-3, in which the Company holds a 25% working interest and is the operator with Shell holding the remaining 75% interest. The company has drilled Molisht-1 through the flysch shale sequence and to the objective carbonates; the well was cased and cemented at 4,174 metres, putting approximately 900 metres of the unstable flysch shale behind pipe, prior to drilling ahead. The Molisht-1 well is currently drilling ahead at a depth of approximately 4,400 metres and Petromanas expects to drill the well to a total depth of approximately 5,500 metres. Data acquisition and testing is planned to follow reaching total depth.

 

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