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Carmen Energy Announces Quitclaim; Shrs Near Yr Lows

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Carmen Energy Inc. (CEI.V), which is trading near year lows, announced that it has quitclaimed its entire interest in and to its Hamburg 14-34-097-11 W6M well and related tangibles and miscellaneous interests to Petrus Resources Ltd. in exchange for Petrus canceling outstanding debts payable by Carmen and related to the drilling of the Well.

In addition and pursuant to the quitclaim, Carmen relinquished its entire interest in and to the Seismic and Drilling Option Agreement dated February 17, 2011, as amended, to Petrus and the participation agreement between Carmen and Petrus was terminated as of the date of the quitclaim.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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