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PMI Shares Up 15%, Highest Level In Five Days

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Petromanas Energy Inc (PMI.V) shares are up 15% in morning trade. The shares are now pegged at 11.5 cents, the highest level in five days.

PMI announced yesterday that it had secured a rig for its 2012 drilling program. It also said the bidding process has closed for its search for a suitable joint venture partner. Management has reviewed and clarified the received bids and discussions are underway with prospective partners with the goal of concluding a definitive Joint Venture agreement or agreements.

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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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