Manas Petroleum Corp.’s focus is the acquisition, exploration and development of oil and gas concessions in the states of the former Soviet Union (FSU). The Company continues to actively pursue other high impact exploitation and production (E&P) opportunities in the FSU.

Current projects include:

Kyrgyzstan - The Company’s Kyrgyzstan interests are through its 20% ownership of South Petroleum Company which is domiciled where the exploration licenses are held. In Kyrgyzstan, Santos Oil has farmed in and acquired a 70% interest in the Company’s Kyrgyz subsidiary, South Petroleum. According to the terms of the Santos farm-in, Santos must spend $54 million on seismic and drilling three deep exploration and three deep appraisal wells during a 2 phase program to earn the 70% interest.

Albania - In Albania, the Company’s application for four production sharing agreements (PSA) covering approximately 3,000 square kilometers are made through its 100% owned subsidiary DWM Petroleum AG. These PSA’s give the Company the right to explore for oil and gas in the areas defined and set out the royalties (10-15%), taxes, and production and training bonuses. The formula is set out to vary according to capital expenses, production costs and revenue. The maximum tax rate is 50%.

The Company’s Albanian exploration blocks are within the country’s oil and gas rich, onshore fold and thrust belt where over 350 million barrels of oil has been produced and current explored shallow reserves total 2.7 billion barrels of oil in place. The Kryja thrust sheet is outcropped on surface on the Company blocks. It consists of massive Cretaceous to Eocene limestone with multiple seepages of oil. The Kryja thrust sheet is over-thrust onto the Ionian thrust sheet, which is the targeted oil reservoir. It is, according to seismic and the recent Occidental well, at the depth of 4000m-5500m. The Ionian thrust sheet in the south of Albania, where it is outcropped, contains all the country’s known oilfields. Sub-thrust discoveries by Albpetrol (Delvina field) and by Oxy (Shpiragu well) were made in the Ionian thrust sheet. The Ionian thrust sheet consists of Jurassic carbonate and shale (source rocks), Cretaceous to Eocene limestone (reservoir) and Miocene flysch (seal).

 

Current Stock Quotes

symbol: MNAP.OB
price: 0.45
change: +0.03

News

FEB 09, 2010 Manas extended Albania transaction
DEC 04, 2009 Manas Petroleum Corp. reports that its 1st year Mongolian work program has completed...
DEC 03, 2009 Chairman and CEO of Manas release letter on future strategy

See all the news here 


Links

http://www.manaspetroleum.com/
S. E. C.

Contact

Manas Petroleum Corp.
Bahnhofstrasse 9, PO Box 155
6341 Baar
Switzerland
Tel: +41 44 718 10 30
Fax: +41 44 718 10 39
Email: info@manaspete.com