PETROMANAS ENERGY INC. COMPLETES SEISMIC PROGRAMS IN BLOCK D-E ONSHORE
ALBANIA

TIRANA, ALBANIA, Nov. 5 /CNW/ - Petromanas Energy Inc. ("Petromanas") (TSXV:PMI) is pleased to announce the completion of  2D seismic operations on Blocks D and E onshore Albania incident free.

The 105 km of 2D seismic acquired on Block D and E fulfils the work commitments for the first exploration phase on those blocks.  The interpretation of this new data and correlation with existing data will improve the quality of the existing prospect inventory and allow the geoscience team to reduce the exploration risk and high grade its exploration prospects.

Petromanas continues as planned with its seismic operations on Blocks 2 and 3. This seismic program is anticipated to be completed by early 2011. All operating licences and permits have been received, surveying and drilling operations for seismic shots are underway. This program includes 140 km of 2D seismic survey and will provide valuable data near the Spiragu discovery which was drilled in 2001. The majority of the seismic work will be carried out with heliportable rigs and the remainder through conventional shallow drilling rigs.

In conjunction with the seismic work, the Company is re-evaluating the un-risked resource assessment which was prepared on December 15, 2009 by Gustavson Associates LLC based on the seismic, geology and limited well data which was available at the time. In the normal course of the current geophysical and geological ("G&G") work, the risked resource potential will be evaluated and, as a result of incorporating risk assessments and new data, will be lower than the un-risked resource potential numbers which were presented in the Gustavson report.

The G&G analysis will be underway through year end as the new seismic data becomes available.  It is anticipated that an updated independent resource evaluation report will be prepared early in 2011. Further updates to resource estimates will be prepared as the Company acquires new data from seismic programs and drilling operations. The geological work conducted to date has further confirmed the significant potential of the Petromanas acreage and the exploration prospectivity of both the shallow and deep prospects. Once Petromanas has the necessary data, it is anticipated that some of the deep target plays will be farmed out to industry partners.  The Company remains on schedule for the planned completion of the seismic program leading to a drilling campaign in 2011.

About Petromanas Energy Inc.

Petromanas is an international oil and gas company focused on the exploration and development of its assets in Albania that possess world-class resource potential. Petromanas, through its wholly-owned subsidiary, holds three Production Sharing Contracts ("PSCs") with the Albanian government. Under the terms of the PSCs, Petromanas has a 100% working interest in six onshore blocks (Blocks A, B, D, E, 2 and 3) that comprise more than 1.7 million acres across Albania's Berati thrust belt.

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.

The foregoing information may contain forward-looking information relating to the future performance of the Company. Forward looking information is subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Such risks and other factors include, among others, the actual results of exploration activities, changes in world commodity markets or equity markets, the risks of the petroleum industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes, change in government and changes to regulations affecting the oil and gas industry, and other risks and uncertainties detailed from time to time in the Company's filings with the Canadian securities administrators (available at www.SEDAR.com). Forward-looking statements are made based on various assumptions and on management's beliefs, estimates and opinions on the date the statements are made. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information contained herein. The Company undertakes no obligation to update forward-looking statements if these assumptions, beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.

For further information:

Glenn McNamara, CEO
Hamid Mozayani, COO
Bill Cummins, CFO

Petromanas Energy Inc.
Suite 1720, 734 - 7^th Avenue SW
Calgary Alberta
Canada T2P 3P8
Tel: [phone]
Fax: [phone]
Email: [email protected]
Website: www.petromanas.com

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