Manas Petroleum Corp. - Kyrgyzstan - Overview

Global Operations Kyrgyzstan Work Program Fergana Basin Kyrgyz Facts Albania Chile

A Unique Central Asian Oil Opportunity

Manas has acquired six exploration licenses covering 3,152 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. Manas' technical team has already identified many deep structures on its licenses.

Joint Venture with Australian Major

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% equity and Santos earns a 70% operating working interest in Manas' six exploration licenses in the Kyrgyz Republic. This 70% is being granted in exchange for Santos making a commercial discovery as the intended consequence of its funding and conducting a $54 Million seismic, exploration and appraisal drilling program.

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