Global Leader in International Oil and Gas Industry News

posted in:

Manas Petroleum Corp. update on Tajikistan

Wednesday, Dec 26, 2012

BAAR, Switzerland, Dec. 24, 2012 /PRNewswire/ -- Manas Petroleum Corp. ("Manas") (TSX-V: MNP); (OTCBB: MNAP) announces that on December 21, 2012, its wholly-owned subsidiary DWM Petroleum AG ("DWM") has been informed by Santos International Ventures Pty Ltd ("Santos") that it has decided not to pursue their option granted by DWM in December 2007 to farm-in into CJSC Somon Oil ("Somon Oil"), a Tajik company having 100% interest in two exploration blocks.

DWM is in negotiations to setup a new consortium for this world-class acreage.

With regards to the rehabilitation project, DWM is in the final process of negotiating a Share Purchase Agreement, which will be entered into before the end of January 2013 with an unrelated third party.

An update on both transactions will be given by the end of January 2013.

About Manas Petroleum Corp.

Manas Petroleum is an international oil and gas company with primary focus on exploration and development in South-Eastern Europe, Central Asia and Mongolia.  In Albania, Manas participates in a 1.7 million acre exploration project through its 15.8% equity interest in Petromanas Energy Inc., a Canadian public company. In the Kyrgyz Republic, Manas has a 25% working interest in two exploration blocks. In Tajikistan Manas owns 90% working interest in a Production Sharing Agreement covering the license areas Zapadnyi and Severo-Zapadnyi  in the Soughd region through its wholly-owned subsidiary DWM Petroleum AG. In Mongolia, Manas owns 74% working interest in two Production Sharing Contracts covering Blocks XIII and XIV through its wholly-owned subsidiary DWM Petroleum AG.

SOURCE Manas Petroleum Corp.

To access over 3,000 of the latest oil projects from across the world visit Projects OGP for free trial today

posted in:

Other Oil & Gas News

Piedmont Natural Gas announces agreement with Camp Lejeune for major expansion of natural gas facilities on base 21-04-2014
AVEVA provides Integrated Engineering & Design solutions to TOTAL E&P Nigeria Limited 18-04-2014
Oando Energy Resources increases deposit for acquisition of Nigerian Upstream Oil and Gas Business of ConocoPhillips 18-04-2014
Linde will be exclusive hydrogen supplier for the Shell Eco-marathon in Houston 18-04-2014
Technip wins Umbilical contract for Kaombo project in Angola 18-04-2014
Forest Oil announces first quarter 2014 earnings release date and teleconference 18-04-2014
Saipem announces awarded FPSO contracts in Angola worth more than $4 billion 18-04-2014
Endeavour announces settlement of SM Energy litigation 18-04-2014
Drilling and production update 18-04-2014
Shell announces Malaysia deep-water gas discovery 18-04-2014