Manas Petroleum Corp. - Kyrgyzstan - Overview

Global Operations Kyrgyzstan Work Program Fergana Basin Kyrgyz Facts Albania Mongolia

A Unique Central Asian Oil Opportunity

Manas has acquired two exploration licenses covering 1,473 sq. kilometers in the Kyrgyz Republic. The licenses lie within a proven petroleum system known as the Fergana Basin which extends across parts of Kyrgyz Republic and into Uzbekistan and Tajikistan. A number of deep structures have been identified.

Figure 1 Fergana Basin -- Block Kyrgyz Republic & Tajikistan

Farm-in with Australian E&P Company

In November 2006, Manas entered into an agreement with Santos International Holdings Pty Ltd, a subsidiary of Australia's third largest oil and gas company, Santos Limited, to execute a phased farm-in agreement under which Manas retains 20% working interest and Santos earns a 70% operating working interest in Manas' five exploration licenses in the Kyrgyz Republic. This 70% is being granted in exchange for Santos conducting a $54 Million exploration program.

Manas has subsequently increased its working interest in the project to 25% by purchasing a 5% interest from Kyrgyzneftegas the Republic's state energy company.