Petromanas Energy Inc.

Corporate Presentation
November 30, 2010

TSX-V: PMI
www.petromanas.com
 Cautionary Notes

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 other
factors 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.

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 Investment Summary
 100% working interest in 6 onshore blocks in Albania - 1.7 million acres
World Class
Resource Potential  Exposure to significant oil resource potential in a producing basin

 First to compile extensive 2D seismic database and integrate with well data
Early Stage  14 high impact exploration opportunities identified
Opportunity
 Prospects depth from 1,300 – 5,200 meters; one prospect has tested light oil

Strategic  100% working interest provides flexibility with respect to development options
Flexibility (i.e. fund alone, farm-out or JV)

The Albania  Active hydrocarbon system, excellent access to European markets, stable
Factor political environment, and attractive fiscal terms

Proven Track  Management and Board combine a unique blend of local and international
Record experience and have a track record of value creation

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

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 Capitalization Snapshot
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 oil
equivalent (“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.

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 Management Team

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 of
Professional Engineers, Geologists and Geophysicists of Alberta and past Governor of the Canadian Association of
Glenn McNamara Petroleum Producers. From August 2005 to August 2010, he was the President of BG Canada and responsible for
Chief Executive Officer 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.

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.
Hamid Mozayani In the past 25 years he held various technical, operational and managerial positions with Mobil Oil Canada and
Chief Operating Officer ExxonMobil Corporations including responsibility for ExxonMobil Joint Venture drilling operations around the globe,
offshore and onshore.

Mr. Cummins is a Chartered Accountant with over 20 years of experience. His international background has
spanned 12 years, including nearly three years as CFO of a TSX listed oil and gas company and seven years as a
Bill Cummins senior financial executive of an international joint venture. From 2001 to 2007 Mr. Cummins was the Vice
Chief Financial Officer President, Corporate Finance and Director of an independently owned brokerage firm, were he focused on raising
capital for public and private companies, primarily in the oil and gas sector. Mr. Cummins also provided advisory
services which assisted in the evaluation and acquisition of petroleum exploration permits in various countries.

Malfor Nuri has 16 years experience in the hydrocarbon industry in Albania. He held positions with the Ministry of
Malfor Nuri Industry, Mineral Resources and Energy, and OMV AG. With OMV, Malfor managed several large seismic
General Manager, Albania acquisition programs, permitting, logistics, licensing and site construction for drilling of three deep wells.

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 Albania Overview
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 European
trade organizations
 NATO member
 Currently undertaking key steps to become
EU member
Favourable economics
 Attractive terms
 10% royalty
 50% profit tax
 100% cost recovery
 Hydrocarbon law allows 100% export of
crude oil

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 Petromanas Albania Assets

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

Existing oil fields on blocks 2 & 3. Includes the

9 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.

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 Sub-thrust Reservoirs
 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 fractured
carbonate 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 world’s 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

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 Blocks 2 & 3 Summary
 Most of the existing oil fields in Albania are located
within blocks 2 & 3
 These oil fields are located 10 to 12 kilometres west of
the Petromanas’ prospects in Blocks 2 & 3
 Occidental (“Oxy”) operated Blocks 2 & 3 from 1998
to 2005
 Area: 851,031 acres
 Oxy Shpiragu-1 well tested light oil from the Eocene–
Upper Cretaceous fractured limestones of the Ionian
zone 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

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 Blocks 2 & 3 Prospects
 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

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 Blocks A & B Summary
 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 to
enter the second exploration period

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 Blocks D & E Summary
 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 offshore
Durresi Block

 Area: Block D 194,225 acres

Block 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 to
enter the second exploration period

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 Petromanas Prospect Portfolio

 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

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 Blueprint for Value Creation
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 to
lower 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

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 Petromanas: Positioned for Success
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.

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APPENDIX
Additional Information

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PSC Ownership Structure

Petromanas Energy Inc.

(TSX-V: PMI)

100%

Petromanas Albania GmbH

(Switzerland)

100% 100% 100%

PSC PSC PSC

Blocks A & B Blocks D & E Blocks 2 & 3

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 Work Commitments

Blocks 2007 2008 2009 2010 2011 2012

First Exploration Period (December 2007 – December 2010) 2nd Exploration Period (Dec 2010 – 2012)
Geology & Geophysics US$400,000  Geology & Geophysics US$300,000
2D seismic processing 200 km US$120,000  1 exploration well US$6,000,000
A&B 2D new seismic acquisition 189 km US$1,583,270  Total Commitment US$6,300,000

Total Commitment US$2,103,270 

Bank guarantee US$2.1MM provided and released Bank guarantee US$6.3MM required

First Exploration Period (December 2007 – December 2010) 2nd Exploration Period (Dec 2010 – 2012)
Geology & Geophysics US$400,000  Geology & Geophysics US$300,000
2D seismic processing 200 km US$150,000  1 exploration well US$6,000,000
D&E 2D new seismic acquisition 105 km US$875,000  Total Commitment US$6,300,000

Total Commitment US$1,425,000 

Bank guarantee US$1.42MM provided and US$0.55MM released Bank guarantee US$6.3MM required

First Exploration Period (July 2009 – July 2012)

Geology & Geophysics US$400,000
2D seismic processing 150 km US$100,000
2&3 1 exploration well in Block 2 US$8,000,000

Total Commitment US$8,500,000

Bank guarantee US$8.5MM required

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 Block A – Jubani prospect
 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

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 Blocks B – Gjurica & West Gjurica Prospects
 Gjurica and West Gjurica prospects (Ionian basin carbonates) identified on the new seismic under
the 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=2.6
seconds or 3,900 meters
 Targeting Ionian carbonate
 Expected drilling costs: US$15–19 million per well

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 Blocks B – Rinasi Prospect
 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
 Targeting Ionian carbonate
 Expected drilling costs: US$15–19 million per well

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 Block E – West Rova Prospect
 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
 Top of structure: TWT= 1.9 seconds or 3,700 meters
 Targeting Ionian carbonate
 Expected drilling costs: US$15–19 million per well

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 Block E – Papri Prospect
 Papri prospect (Ionian basin carbonates) identified from the existing Albpetrol and Coparex seismic
 The Papri structure is 10 km long and 4 km wide
 Top of structure: TWT= 2.0 seconds or 3,900 meters
 Targeting Ionian carbonate
 Expected drilling costs: US$15-19 million per well

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 Board of Directors

Mr. Johnson was CEO and Director of a number of independent oil companies in Canada including ELAN
Verne Johnson Energy, Chairman of Fort Chicago Energy Partners, director of Gran Tierra, Excelsior Energy, as well as a
Chairman number of private companies. He has also worked for Imperial Oil and Exxon Corp.

Mr. Scholz is a Physicist and Engineer , Chairman of Manas Petroleum Corp. He is founder of a number of
Heinz Jurgen Scholz public and private entities in the resource industries worldwide and has developed strong relationships in the
Co-Chairman 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.

Mr. Scott has 28 years of oil industry experience. He is currently President of Postell Energy and has served as
Jeffrey Scott a senior officer and/or director of various publicly traded companies. He is founder and Chairman of the
Director Board of Gran Tierra, a Director of Essential Energy Services Trust, Excelsior Energy and Tuscany International
Drilling Inc.
Mr. Protti has 35 years of experience in the private and public energy sectors. This includes 14 years in
Gerard Protti 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
Director
Chairman of the Canadian Association of Petroleum Producers and the Canadian Chamber of Commerce.

Mr. Vogel held different senior positions for financial institutions such as Bank Sal. Oppenheim, HSBC, Orbitex
Peter-Mark Vogel Finance, Societe Generale, and Merrill Lynch. He is a founding partner, former Director and CFO of Manas
Director Petroleum Corp.

Mr. Velletta is a founding partner of the law firm of Velletta & Company, Barristers, Solicitors & Notaries. Mr.
Michael Velletta Velletta serves as a Governor of the Trial Lawyers Association of British Columbia, is a member of the
Director Canadian Bar Association and the International Institute of Business Advisors and member of other public
companies.

Mr. Keep currently is Executive Vice-President of Fiore Financial Corporation and also serves as an officer
Gordon Keep and/or director of several natural resource companies. He obtained his B.Sc. in Geological Science from
Director 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.

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 Key Technical Team

Mr. Cooper is a specialist in International Exploration and Structural Geology and worked with BP in UK, Canada and
Mark Cooper Columbia before joining PanCanadian and later Encana companies. He worked on the BC foothills, Western
Senior Exploration Advisor Newfoundlands, Quebec, the Scotian Shelf, Gulf of Mexico, various international exploration projects in Oman,
Qatar, Yemen, Eastern Europe and Greenland.

Prof. Vilson Bare Professor Vilson Bare is a geophysicist and seismic exploration expert. Mr. Bare consulted for Coparex and Shell. He
Senior Geophysicist held senior positions within the Albanian National Petroleum Agency (NPA later AKBN).

Mr. Arapi held managerial and technical positions with the Albanian National Petroleum Agency (NPA later AKBN).
Arben Arapi Mr. Arapi worked closely with Occidental Petroleum (Shpiragu 1 well), OMV, INA Naftaplin and Coparex. Mr. Arapi
Senior Petroleum Geologist has extensive exploration experience in the Peri Adriatic Depression and Ionian Zone in Albania.

Mr. Mesonjesi has over 25 years of oil and gas industry experience in all phases of exploration. He has worked over 7
Agim Mesonjesi years as a geologist and geological advisor for Occidental Petroleum Albania where he was directly involved with the
Senior Petroleum Geologist Occidental Sphiragu discovery well.

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Contact Information
Glenn McNamara – CEO
Bill Cummins - CFO
Suite 1720, 734-7th avenue SW
Calgary, Alberta Canada T2P 3P8
Phone: +1 403 457 4400
Fax: +1 403 457 4480
Email: info@petromanas.com
Website: www.petromanas.com

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