Manas Petroleum Overview Part 3

Manas Petroleum is an international oil and gas company, focusing on activities in South-Eastern Europe, Central Asia and South America. In Albania, Manas has developed a large exploration project with a total resource potential (P50) of 3 billion barrels (Gustavson 2008). Four blocks are now drill-ready. The council of ministers recently ratified the production-sharing contracts on two blocks to DWM Petroleum, a subsidiary of Manas. A 51-101 compliant estimate is now being prepared. In Kyrgyzstan, Manas has signed a $ 54 million USD farm-out agreement with Santos LTD ADR (PK: STOSY), covering it 1.2 billion barrels in place (Scott Pickford, 2005). Drilling is currently underway. Manas development of its license in Tajikistan is now covered by an option farm-in agreement with Santos, where a seismic program has been recently completed. In Chile, Manas and its U.S. partner, IPR, farmed out a large natural gas exploration project to a consortium of local operators. In Mongolia, the Company recently ompleted a phase 1 geological program, defining structural trends with potential petroleum accumulations. A seismic program is currently underway. Details of these projects are located on the Companys website: www.manaspete.com.

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News & Politics

Tags:

• oil drilling
• natural gas
• oil exploration
• Manas Petroleum
• Albania
• Santos LTD ADR
• Kyrgyzstan
• Tajikistan
• Mongolia
• Chile
• Undiscovered Equities