Pet Roman As Ppt

8/6/2019 Pet Roman As Ppt

1/26

Petromanas Energy Inc.

Corporate Presentation

November 30, 2010

TSX-V: PMI

www.petromanas.com


2/26

2

This Presentation includes and is based on forward-looking information and statements that are subject to risks and

uncertainties that could cause actual results to differ. Factors that might cause or contribute to such differences include, but

are not limited to, economic conditions globally, the impact of competition, political and economic developments in the

countries in which Petromanas operates, regulatory developments in Italy and internationally and changes in oil prices and in

the margins for Petromanas products. These expectations, estimates and projections are generally identifiable by

statements containing words such as "expects", "anticipates", "targets", "goals", "projects", "intends", "plans", "believes",

"seeks", "estimates", variations of such words, and similar expressions. Important factors that could cause actual results to

differ materially from those expectations include, among others, economic and market conditions in the geographic areas

and industries that are or will be major markets for Petromanas' businesses, oil prices, market acceptance of new products

and services, changes in governmental regulations, interest rates, fluctuations in currency exchange rates and such otherfactors as may be discussed from time to time. Although Petromanas believes that its expectations and the information in

this Presentation were based upon reasonable assumptions at the time when they were made, it can give no assurance that

those expectations will be achieved or that the actual results will be as set out in this Presentation. Petromanas is not

making any representation or warranty, expressed or implied, as to the accuracy, reliability or completeness of the

information in the Presentation, and neither Petromanas nor any of its directors, officers or employees will have any liability

to the reader or any other persons resulting from the reader's use of the information in the Presentation. Petromanas

undertakes no obligation to publicly update or revise any forward-looking information or statements in the Presentation. The

reader should consult any further disclosures Petromanas may make in documents it files with the applicable securities

regulators.

The Presentation is intended for educational and informational purposes only and do not replace independent professional

judgment. Statements of fact and opinions expressed are those of the participants individually. The reader should consult

with a lawyer, accountant and other professionals in respect of contents hereof.

Cautionary Notes


3/26

3

100% working interest provides flexibility with respect to development options

(i.e. fund alone, farm-out or JV)

Management and Board combine a unique blend of local and internationalexperience and have a track record of value creation

Currently valued at< C$0.04 per boe of P50 unrisked prospective resource

100% working interest in 6 onshore blocks in Albania - 1.7 million acres

Exposure to significant oil resource potential in a producing basinWorld Class

Resource Potential

StrategicFlexibility

Proven TrackRecord

CompellingValuation

First to compile extensive 2D seismic database and integrate with well data

14 high impact exploration opportunities identified

Prospects depth from 1,300 5,200 meters; one prospect has tested light oil

Early StageOpportunity

Active hydrocarbon system, excellent access to European markets, stable

political environment, and attractive fiscal termsThe Albania

Factor

Investment Summary


4/26

4

Exchange TSX Venture

Symbol PMI

Current Share Price C$0.41 (as of November 26, 2010)

Basic Shares Outstanding 621 million

Market Capitalization C$253 million

Warrants 261 million (weighted average exercise price of C$0.50)

Options 33 million (weighted average exercise price of C$0.30)

Fully Diluted Share Outstanding* 913 million

Current Working Capital Q3 C$ 70 million

Warrant & Option Proceeds C$116 million

(*) Includes up to 50 million common shares of Petromanas will be issued to the Vendor based on the following performance milestones:

25 million common shares upon receipt of a report prepared pursuant to National Policy 51-101 confirming 2P reserves of not less than 50 million barrels of oilequivalent (boe); and

for each 50 million boe over and above the initial 50 million boe, an additional 500,000 common shares will be issued to a maximum of 25 million common shares.

Capitalization Snapshot


5/26

5

Glenn McNamaraChief Executive Officer

Mr. McNamara has over 30 years of oil and gas exploration and production experience in Canada, the USA, South

America, and the Asia Pacific region. He received his MBA from the University of Calgary in 1988, and a B.Sc. in

Mining Engineering from the University of Alberta in 1976. Mr. McNamara is a Member of the Association ofProfessional Engineers, Geologists and Geophysicists of Alberta and past Governor of the Canadian Association of

Petroleum Producers. From August 2005 to August 2010, he was the President of BG Canada and responsible for

all aspects of BG Canada's business, including developing a growth strategy for western/northern Canada as well as

Alaska. Prior to that he held several senior executive positions with Exxon Mobil/Imperial Oil Resources, Exxon

Mobil Canada Energy Ltd. and Mobil Oil Canada.

Hamid MozayaniChief Operating Officer

Mr. Mozayani has over 38 years of increasingly responsible leadership experience relating to Exploration, Drilling,

Completions, Production Engineering and Production Operations in Canada, USA, Europe, Far East and Middle East.In the past 25 years he held various technical, operational and managerial positions with Mobil Oil Canada andExxonMobil Corporations including responsibility for ExxonMobil Joint Venture drilling operations around the globe,offshore and onshore.

Bill CumminsChief Financial Officer

Mr. Cummins is a Chartered Accountant with over 20 years of experience. His international background hasspanned 12 years, including nearly three years as CFO of a TSX listed oil and gas company and seven years as asenior financial executive of an international joint venture. From 2001 to 2007 Mr. Cummins was the VicePresident, Corporate Finance and Director of an independently owned brokerage firm, were he focused on raisingcapital for public and private companies, primarily in the oil and gas sector. Mr. Cummins also provided advisoryservices which assisted in the evaluation and acquisition of petroleum exploration permits in various countries.

Malfor NuriGeneral Manager, Albania

Malfor Nuri has 16 years experience in the hydrocarbon industry in Albania. He held positions with the Ministry of

Industry, Mineral Resources and Energy, and OMV AG. With OMV, Malfor managed several large seismic

acquisition programs, permitting, logistics, licensing and site construction for drilling of three deep wells.

Management Team


6/26

6

Hydrocarbon rich

Home to the largest onshore oil field in

Europe Multiple active oil fields

Location, location, location

Excellent access to European markets

Stable political environment

Constitutional Democracy since 1991

Member of WTO, regional and Europeantrade organizations

NATO member

Currently undertaking key steps to becomeEU member

Favourable economics

Attractive terms 10% royalty

50% profit tax

100% cost recovery

Hydrocarbon law allows 100% export ofcrude oil

Albania Overview


7/267

3

Production sharing contracts (PSCs) held by

Petromanas

6 Onshore blocks covered by the PSCs

100% Working interest in Blocks A,B,D,E,2 & 3

1.7 Million net acres

5,700+ Kilometres of 2D seismic over the 6 Blocks

14

Giant sub-thrust structures identified on

Petromanas acreage

9Existing oil fields on blocks 2 & 3. Includes the

largest onshore oil field in Europe (P50 OOIP:

5.7 billion barrels), Patos Marinza, operated

by Bankers Petroleum Ltd.**

**Petromanas has the right to explore and produce oil below and adjacent to the existing oil fields.

Petromanas Albania Assets


8/26

8

Petromanas blocks cover an oil rich fold and thrust belt (FTB) known as the Kurveleshi Belt that

trends from NW to SE Albania

The primary exploration targets are conventional exploration targets involving sub-thrust fracturedcarbonate reservoirs similar to those discovered in the 1990s in the Apennines of Italy

FTBs are estimated to contain 14% of known and undiscovered global hydrocarbons and 28% of

the worlds giant fields have been found in FTBs

Advances in seismic imaging, structural modelling and fracture characterisation are helping to

mitigate the technical risks that held back FTB exploration in the past

Sub-thrust Reservoirs


9/26

9

Most of the existing oil fields in Albania are locatedwithin blocks 2 & 3

These oil fields are located 10 to 12 kilometres west ofthe Petromanas prospects in Blocks 2 & 3

Occidental (Oxy) operated Blocks 2 & 3 from 1998to 2005

Area: 851,031 acres

Oxy Shpiragu-1 well tested light oil from the Eocene

Upper Cretaceous fractured limestones of the Ionianzone in Block 2

The Shpiragu oil discovery verified the geological model

Blocks 2 & 3 contain 9 existing oil fields in the upper-thrust sheets

Seismic data:

2,200 km 2D (Albpetrol, 1975 1992)

156 km 2D (Oxy 1998)

220 km 2D (Oxy 2003)

First exploration period: July 31, 2009 July 30, 2012

Blocks 2 & 3 Summary


10/26

10

Shpiragu-1 well (Oxy 2001) drilled to measured depth of 5,333 meters testing sub-thrust structure

Light oil with 37o API flowed to the surface intermittently at average daily rates of 400 bbl/d during testing

The well test was terminated due to choke freezing from hydrates which caused flow problems

Available data indicates the Shpiragu sub-thrust structure extends south over block 3

The South Shpiragu targets are shallower (top of structures 2,800 3,000 meters)

The Krasi lead is even shallower with top of structure 1,000 1,200 meters

Petromanas is currently reprocessing available data and acquiring 128 km of new 2D seismic

Expected drilling cost for a Shpiragu well is US$22-24 million

Shpiragu-1 Well Site

Blocks 2 & 3 Prospects


11/26

11

Block B previously licensed to Shell 1994 1999

Shell abandoned the PSC in reaction to the unrest

in Albania and the conflict in neighboring Kosovo

Area: Block A 233,020 acres

Block B 192,989 acres

Seismic data:

2,440 km 2D (Albpetrol 1975 1990) 860 km 2D (reprocessed by Shell 1996)

408 km 2D (Shell 1996)

328 km 2D (reprocessed by Petromanas 2008)

189 km 2D (Petromanas 2008)

First exploration period: December 26, 2007

December 25, 2010

Minimum work commitment completed

Second exploration period: December 26, 2010 December 25, 2012

PMI has notified The National Agency of its intent toenter the second exploration period

Blocks A & B Summary


12/26

12

Blocks D&E previously licensed to Coparex 1994-2002

Coparex abandoned the PSC after being acquired by

Lundin oil and entering a new PSC in the offshoreDurresi Block

Area: Block D 194,225 acresBlock E 160,618 acres

Seismic data:

310 km 2D (Coparex 1996) 773 km 2D (reprocessed by Coparex 1996)

334 km 2D (reprocessed by Petromanas 2008)

105 km 2D (Petromanas 2010)

First exploration period: December 26, 2007 December 25, 2010

Minimum work commitment completed

Second exploration period: December 26, 2010 December 25, 2012

PMI has notified The National Agency of its intent toenter the second exploration period

Blocks D & E Summary


13/26

13

Petromanas is completing the

merging of original, reprocessed

and newly shot 2D seismic (2010)

plus integrating well data to

develop a comprehensive picture

of the geological trend over the

acreage

The currently identified 14

conventional sub-thrust

prospects are being re-evaluated

and quantified

Petromanas Prospect Portfolio


14/26

14

Next Steps

Complete 128 km of 2D seismic on Blocks 2 & 3 targeting existing structures

Complete interpretation of new and reprocessed seismic with all existing well data

Complete an update of the resource quantification based on the new data and interpretation

Finalize the prospects and well locations on all blocks

Plan drilling programs, obtain licenses, and finalize drilling logistics

Finalize well sequence:

Drill a shallow prospect in A-B or drill block D-E

Determine the best well plan for Block 2-3

Other Initiatives

Consider farming-out working interest or taking on a joint venture partner on certain prospects tolower the upfront capital commitment while maintaining considerable upside upon success

Pursue production and low risk development acquisition opportunities in the region

Further investigate the shallow oil potential on Petromanas blocks

Blueprint for Value Creation


15/26

15

World Class Exploration Portfolio

Petromanas holds 100% working interest in 6 onshore blocks in Albania comprising 1.7 million acres

Inventory of 14 prospects (one prospect already tested light oil) ranging in depth from 1,300 5,200

meters

Petromanas asset portfolio has exposure to significant oil resource

High working interest provides flexibility with respect to development options (i.e. fund alone, farm-

out, joint venture or consider other strategic initiatives)

Pure-play Albanian Exploration Company

Albania has an active hydrocarbon system, excellent access to European markets, stable political

environment, and attractive fiscal terms

Compelling Valuation

Currently valued at less than C$0.04 per boe of P50 prospective resource*

* Gustavson Associates, LLC independent audit according to NI 51-101, December 15, 2009.

Petromanas: Positioned for Success


16/26

16

Additional Information

APPENDIX


17/26

17

PSC Ownership Structure

100% 100% 100%

100%

PSC

Blocks A & B

PSC

Blocks D & E

PSC

Blocks 2 & 3

Petromanas Albania GmbH(Switzerland)

Petromanas Energy Inc.(TSX-V: PMI)


18/26

18

Blocks 2007 2008 2009 2010 2011 2012

A & B

D & E

2 & 3

First Exploration Period (December 2007 December 2010)

Geology & Geophysics US$400,000 2D seismic processing 200 km US$120,000 2D new seismic acquisition 189 km US$1,583,270 Total Commitment US$2,103,270 Bank guarantee US$2.1MM provided and released

First Exploration Period (December 2007 December 2010)

Geology & Geophysics US$400,000 2D seismic processing 200 km US$150,000 2D new seismic acquisition 105 km US$875,000 Total Commitment US$1,425,000 Bank guarantee US$1.42MM provided and US$0.55MM released

First Exploration Period (July 2009 July 2012)

Geology & Geophysics US$400,000

2D seismic processing 150 km US$100,000

1 exploration well in Block 2 US$8,000,000

Total Commitment US$8,500,000

Bank guarantee US$8.5MM required

2nd Exploration Period (Dec 2010 2012)


1 exploration well US$6,000,000



2nd Exploration Period (Dec 2010 2012)


1 exploration well US$6,000,000



Work Commitments


19/26

19

The Jubani prospect was identified by integrating

the old seismic, well data, surface geology and new

seismic acquired during 2008. The Jubani prospect lies within the sub-thrust Kruja

carbonates under the Krasta-Cukali tectonic zone

Targeting Kruja platform carbonate

Top of structure: 1,300 - 1,400 meters

Expected drilling costs: US$5-6 million

Block A Jubani prospect


20/26

20

Gjurica and West Gjurica prospects (Ionian basin carbonates) identified on the new seismic underthe Kruja platform carbonate sheet

The Gjurica and West Gjurica structure are respectively: 8 km x 3 km and 8 km x 4 km

Top of structure: Gjurica at TWT= 2.2 seconds or 3,600 meters and West Gjurica at TWT=2.6seconds or 3,900 meters

Targeting Ionian carbonate

Expected drilling costs: US$1519 million per well

Blocks B Gjurica & West Gjurica Prospects


21/26

21

Rinasi (Ionian basin carbonates) identified from the existing and new seismic under the Kruja

platform carbonate sheet

The Rinasi structure is 10 km long and 2.5 km wide

Top of structure: TWT= 2.0 seconds or 3,300 meters



Blocks B Rinasi Prospect


22/26

22

West Rova prospect (Ionian basin carbonates) identified from the existing Albpetrol and Coparex

seismic

The West Rova structure is 7.5 km long and 2.3 km wide




Block E West Rova Prospect


23/26

23

Papri prospect (Ionian basin carbonates) identified from the existing Albpetrol and Coparex seismic

The Papri structure is 10 km long and 4 km wide



Expected drilling costs: US$15-19 million per well

Block E Papri Prospect


24/26

24

Verne JohnsonChairman

Mr. Johnson was CEO and Director of a number of independent oil companies in Canada including ELAN

Energy, Chairman of Fort Chicago Energy Partners, director of Gran Tierra, Excelsior Energy, as well as a

number of private companies. He has also worked for Imperial Oil and Exxon Corp.

Heinz Jurgen ScholzCo-Chairman

Mr. Scholz is a Physicist and Engineer , Chairman of Manas Petroleum Corp. He is founder of a number of

public and private entities in the resource industries worldwide and has developed strong relationships in the

Former Soviet Union and its satellite countries. Mr. Scholz plays a critical role in acquiring and negotiating the

rights for major oil and gas assets.

Jeffrey ScottDirector

Mr. Scott has 28 years of oil industry experience. He is currently President of Postell Energy and has served as

a senior officer and/or director of various publicly traded companies. He is founder and Chairman of the

Board of Gran Tierra, a Director of Essential Energy Services Trust, Excelsior Energy and Tuscany International

Drilling Inc.

Gerard ProttiDirector

Mr. Protti has 35 years of experience in the private and public energy sectors. This includes 14 years in

several executive officer roles at PanCanadian Petroleum and EnCana Corporation including marketing,

operations, new ventures, offshore and international development and corporate relations. He is past

Chairman of the Canadian Association of Petroleum Producers and the Canadian Chamber of Commerce.

Peter-Mark VogelDirector

Mr. Vogel held different senior positions for financial institutions such as Bank Sal. Oppenheim, HSBC, Orbitex

Finance, Societe Generale, and Merrill Lynch. He is a founding partner, former Director and CFO of Manas

Petroleum Corp.

Michael VellettaDirector

Mr. Velletta is a founding partner of the law firm of Velletta & Company, Barristers, Solicitors & Notaries. Mr.

Velletta serves as a Governor of the Trial Lawyers Association of British Columbia, is a member of the

Canadian Bar Association and the International Institute of Business Advisors and member of other public

companies.

Gordon KeepDirector

Mr. Keep currently is Executive Vice-President of Fiore Financial Corporation and also serves as an officer

and/or director of several natural resource companies. He obtained his B.Sc. in Geological Science from

Queen's University in 1979 and his Master's of Business Administration from the University of British

Columbia in 1983 and is a Professional Geologist in the province of British Columbia.

Board of Directors


25/26

25

Mark CooperSenior Exploration Advisor

Mr. Cooper is a specialist in International Exploration and Structural Geology and worked with BP in UK, Canada andColumbia before joining PanCanadian and later Encana companies. He worked on the BC foothills, Western

Newfoundlands, Quebec, the Scotian Shelf, Gulf of Mexico, various international exploration projects in Oman,

Qatar, Yemen, Eastern Europe and Greenland.

Prof. Vilson Bare

Senior Geophysicist

Professor Vilson Bare is a geophysicist and seismic exploration expert. Mr. Bare consulted for Coparex and Shell. He

held senior positions within the Albanian National Petroleum Agency (NPA later AKBN).

Arben ArapiSenior Petroleum Geologist

Mr. Arapi held managerial and technical positions with the Albanian National Petroleum Agency (NPA later AKBN).

Mr. Arapi worked closely with Occidental Petroleum (Shpiragu 1 well), OMV, INA Naftaplin and Coparex. Mr. Arapi

has extensive exploration experience in the Peri Adriatic Depression and Ionian Zone in Albania.

Agim MesonjesiSenior Petroleum Geologist

Mr. Mesonjesi has over 25 years of oil and gas industry experience in all phases of exploration. He has worked over 7

years as a geologist and geological advisor for Occidental Petroleum Albania where he was directly involved with the

Occidental Sphiragu discovery well.

Key Technical Team


26/26

26

Contact Information

Glenn McNamara CEO

Bill Cummins - CFO

Suite 1720, 734-7th avenue SW

Calgary, Alberta Canada T2P 3P8Phone: +1 403 457 4400

Fax: +1 403 457 4480

Email: [email protected]

Website: www.petromanas.com

Pet Roman As Ppt

Documents

Transcript of Pet Roman As Ppt