26.2.2010, 06:53
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#7
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Citim:
Petromanas Energy completes acquisition of Albania Oil & Gas assets
Petromanas Energy Inc. ("Petromanas" or the "Company") 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 ("Manas Adriatic").
The common shares will commence trading under the name "Petromanas Energy Inc." (symbol PMI.V) 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 (the "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.
Petromanas will issue an additional 150,000,000 common shares to DWM as follows:
1. 100,000,000 common shares on the earlier of June 23, 2011 and the completion of the first well on the Licenses by Manas Adriatic;
2. 25,000,000 common shares upon receipt of a report prepared pursuant to National Instrument 51-101 confirming that the Licenses have 2P reserves of not less than 50,000,000 barrels of oil equivalent ("boe"); and
3. upon Manas Adriatic being in receipt of a report prepared pursuant to National Instrument 51-101 confirming that the Licenses have 2P reserves in excess of 50,000,000 boe, for each 50,000,000 boe over and above the initial 50,000,000 boe, an additional 500,000 common shares will be issued to a maximum of 25,000,000 common shares.
In connection with the completion of the acquisition, the Company changed its name from WWI Resources Ltd. to Petromanas Energy Inc.
Petromanas has also closed a private placement of 100,000,000 units at a price of $0.25 per unit for gross proceeds of $25,000,000.
Each unit consists of one common share and one common share purchase warrant, with each warrant entitling the holder to purchase a further common share at a price of $0.45 per share for a period of 5 years expiring February 23, 2015.
A cash fee of 5% of the funds raised was paid on closing of the private placement. The common shares and warrants are subject to a hold period expiring June 25, 2010.
http://www.resourceinvestor.com/News...as-assets.aspx
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