|Manas Petroleum Corp. (TSX.V:MNP / OTCCB:MNAP) is changing from a pure exploration company to an exploration and production company.|
Our focus is on Central Asia, especially on the Fergana Basin, which extends over Tajikistan, Kyrgyzstan and Uzbekistan.
Manas has exploration licenses in Tajikistan and Kyrgyzstan, which cover the center (with large structures like Mingbulak, 250 MMBOE, in Uzbekistan) and the edge with fields in Tajikistan and Kyrgyzstan.
Furthermore, a Share Purchase Agreement for rehabilitation, redevelopment and exploration in Tajikistan has been entered and should be completed by end April.
Manas also holds exploration licenses in Mongolia and has 14.4 % equity in Petromanas (PMI).
Manas draws on personnel with experience in production of mature oil fields as well as in challenging exploration.
|Manas Petroleum's first project is in the Kyrgyz Republic, Central Asia's only democracy and member of the World Trade Organization. |
In the Kyrgyz Republic, Manas holds the Tuzluk license area which is located in the Fergana Basin.
|Adjacent to Manas Tuzluk Prospect within the Kyrgyz Republic license area, Manas acquired an Exploration license in Tajikistan. The geology is an extension of the Manas Kyrgyz Northern license area principally the Tuzluk area. Manas has now identified more than 10 leads and prospects on both its Kyrgyz and Tajik licenses.|
|Gobi Energy Partners GmbH, a subsidiary of Manas Petroleum Corporation holds 100% working interests in Blocks XIII (Tsagaan Els) and XIV (Zuunbayan) covering approximately 1.6 million acres (8.6 thousand sq. km) after relinquishment. |
Twenty-six percent of Gobi's working Interest is held in trust for a Mongolian company (10%), an US investor group (8%) and for a Swiss investor group (8%).
The production contracts provide for a five-year exploration period (with two optional six month extensions) beginning on April 21, 2009, and a twenty-year exploitation period (with two five year extensions). The Mongolian government is entitled to 12.5% royalty interest.
|Manas has acquired three production sharing agreements (PSCs) covering six blocks on the northern flank of Albania's oil rich fold and thrust belt. The agreements, which cover blocks A, B, D, E, 2 and 3 have been approved by the National Agency of Natural Resources (AKBN) and was ratified by the Energy Ministry.|
Manas completed in February 2010 the transaction with respect of its Albanian project with Petromanas Energy Inc., a Canadian company listed on the TSX Venture Exchange, in exchange for cash and shares of Petromanas Energy Inc.
|One focus of Manas Petroleum's is the exploration and development of giant hydrocarbon assets in principally countries that were formerly part of the Soviet Union (FSU) or its satellites, and that are now growing more moderate as they are increasingly influenced by Western Europe and China. As this occurs two critical elements remain for what Manas' management views as a historic opportunity to discover and develop major oil assets. The first is that though Russian exploration and development concepts and technologies were previously decades behind that of the Western world, Soviet record keeping of geological results across the union was excellent. For example, an overview of Soviet Kyrgyz Republic production and drilling records shows an obvious trend towards larger fields as depth is increased. It also indicates that more large discoveries should occur as deep tests continue. Reinforcing this conclusion is recent reprocessing of other meticulously kept Russian records: Soviet 1980s-vintage Kyrgyz seismic. The results Manas and its partners have obtained indicate the existence of numerous, large, deep under-thrust, potentially oil containing, un-drilled structures.|
|Manas employs geologists and executives that are experts in this area, and have demonstrated they have access to much of this information. Manas is examining this archived data using state-of-the-art Western concepts and technology in its search for evidence of giant oil deposits.|
The second element is that many of these Former Soviet Union and Eastern European countries' business environments are starting to show dramatic improvements, making operating within their borders highly attractive.
In Manas Petroleum's favor is the fact that its executives are extremely well acquainted with Former Soviet Union and Eastern European political realities. They have a proven record of being able to operate and acquire world-class assets there and they know which countries are evolving in an attractive pro-oil business fashion. They also possess crucial geological expertise enabling them to act extremely fast when opportunities arise.