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Petromanas Energy Inc. acquires Albania Oil & Gas assets |
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Written by Newswire
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VANCOUVER, BC — Petromanas Energy Inc. has completed the acquisition from DWM Petroleum AG (DWM), a wholly-owned subsidiary of Manas Petroleum Corporation, of all of the issued and outstanding securities of Manas Adriatic GmbH. The common shares will commence trading under the name "Petromanas Energy Inc." on the TSX Venture Exchange on February 25, 2010. Manas Adriatic is the owner of three onshore oil and gas production sharing contracts containing six licenses located in Albania. As consideration for the acquisition, Petromanas has paid DWM $2,000,000 issued 100,000,000 common shares to DWM and reimbursed DWM approximately U.S.$9,500,000 for loans previously made by DWM to Manas Adriatic and its predecessors in title to the Licenses.
www.manaspete.com
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