MNAP.OB-Manas Petroleum Corp.-Positive News!!

[pennytrader0214]

Yesterday's news:



Today's news:

Manas Petroleum Corp. (MNAP.OB) (Manas) Announces Final Approval Received: Production Sharing Contracts (PSC) Ratified by the Albanian Council of Ministers
Thursday December 13, 10:20 am ET
Manas Petroleum Corp. (MNAP.OB) (Manas)


BAAR, Switzerland, December 13 /PRNewswire-FirstCall/ -- "The Albanian Council of Ministers has approved Decision No. 796 regarding the approval of production sharing for exploration, development and production of hydrocarbons on onshore Albania, in Blocks A-B and D-E, between the Ministry of Economy, Trade and Energy, represented by the National Agency of Natural Resources (AKBN) and DWM Petroleum AG." DWM Petroleum AG is 100% subsidiary of Manas.

This final approval empowers DWM to explore and produce oil and gas on Blocks A-B and D-E. The existing 2D seismic data over the concession area totals approximately 4,000 kilometres and was shot by AlbPetrol, Shell, INA, Premier Oil and Coparex. Manas plans to reprocess approximately 700 kilometres of the existing data as well as acquire new seismic data.

The primary exploration targets are sub-thrust fractured carbonate reservoirs similar to those discovered in the 1990's in the Apennines of Italy. During the same time Shell & Coparex discovered a deep under-thrust structure within the blocks that by their calculations has a potential to contain 820 million barrels (MMBO) recoverable of oil. Work to further refine these prospects and additional prospects using data combined for the first time from Shell, Coparex and the State oil company AlbPetrol is underway.

The opportunity to proceed with what the company considers exceptional data Shell, Albpetrol and Coparex data sets and superbly developed drill ready prospects has occurred because Shell and Coparex abandoned their respective projects during near civil war in Albania and the conflict in neighbouring Kosovo. The area has since become a relatively stable democracy which is attracting over USD1 billion in investments annually.

This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates", "believes", "estimates", "expects", "plans", "intends", "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward looking statements.


Contact:
Manas Petroleum Corp.
Bahnhofstr. 9, P.O. Box 155
CH-6341 Baar
Switzerland
Phone: +41-44-718-10-30
Fax: +41-44-718-10-39
Email:
Web:





--------------------------------------------------------------------------------
Source: Manas Petroleum Corp

[pennytrader0214]

Form 8-K for MANAS PETROLEUM CORP
________________________________________
18-Dec-2007
Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement.

On December 12, 2007, the Albanian Council of Ministers approved Decision No. 796 regarding the approval of production sharing contracts for exploration, development and production of hydrocarbons in onshore Albania, in Blocks A-B and D-E, between the Ministry of Economy, Trade and Energy, represented by the National Agency of Natural Resources (AKBN) and DWM Petroleum AG ("DWM") (the "Contracts"). DWM is the 100% subsidiary of Manas Petroleum Corporation (the "Corporation" and "We").

The Contracts comprise four blocks that cover approximately 3,100 km2 (or approximately 766,000 acres).

The Contracts covering the blocks set out minimum work and expenditure requirements for three phases that we must comply with to maintain the exploration rights for the different blocks. Failure to comply with the work and financial requirements in any one phase means that the exploration period will terminate and we will not be able to enter the other phases for the applicable blocks. Although one of the Contracts covers two blocks and the other covers the other two, the programs for each set of blocks are mostly identical. Under the Contracts, if the three phases are completed, they will take between seven and ten years to complete and will require a minimum expenditure of $15,620,000 for each of the two Contracts.

We have three years from the date the Council of Ministers ratified the Contracts to complete the requirements in Phase 1. After Phase 1, we have the option either to continue pursuing or to relinquish the exploration rights. The Phase 1 Minimum Work and Financial Program requires the undertaking of a minimum of $400,000 in geological and geophysical studies, the re-processing of at least 200 kilometers of seismic data at a minimum cost of $120,000 and the acquisition and processing of either 300 kilometers of 2D seismic at a minimum cost of $2,500,000 or the drilling of an exploration well to a depth of at least 3,000 meters at a minimum cost of $6,000,000.

We have two years from the completion of Phase 1 to complete the requirements in Phase 2. We may extend this phase at no additional cost for another year. The Phase 2 Minimum Work and Financial Program requires the undertaking of a minimum of $300,000 in geological and geophysical studies, and the drilling of an exploration well to a depth of at least 3,000 meters at a minimum cost of $6,000,000.

We have three years from the completion of Phase 2 to complete the requirements in Phase 3. We may extend this phase at no additional cost for another two years, less any time by which we extended Phase 2. The Phase 3 Minimum Work and Financial Program requires the undertaking of a minimum of $300,000 in geological and geophysical studies and the drilling of an exploration well to a depth of at least 3,000 meters at a minimum cost of $6,000,000.

The Corporation announced the approval of the Contracts in a press release on December 13, 2007, which is attached as Exhibit 99.1 and incorporated by reference into this Item 1.01.

[pennytrader0214]

Independent Resource Evaluation Confirms Existence of Giant Oil and Gas Prospects on Manas Petroleum's Albanian Exploration Blocks
Thursday January 10, 7:30 am ET

BAAR, Switzerland, January 10 /PRNewswire-FirstCall/ -- Manas Petroleum Corporation (MNAP.OB) is pleased to announce the results of a Resource Evaluation prepared by Gustavson Associates LLC regarding Manas Petroleum's blocks A, B,D and E in Albania

The Report considers the licenses 8 primary and recognized prospects identified from approximately 4,000 kilometers of seismic shot by AlbPetrol, Shell, and Coparex on the concession position.

Gustavson assigns 2.987 billion barrels with 3.014 trillion cubic feet of associated gas as the P50 prospective oil resources in its oil with associated gas case. Gustavson notes that because of the depth it is possible that the prospects will hold natural gas. In its oil with a gas cap case Gustavson calculates the prospective resources to total 1.4 billion barrels of light oil and 15 trillion cubic feet of natural gas. Gustavson estimates that in the event only gas is present the P50 prospective resource is 28 trillion cubic feet of natural gas.

Gustavson examined the Manas Albanian license position which consists of Blocks A, B, D & E with a total of approximately 780,000 gross acres located along the NW-SE trending fold belt of northwestern Albania. The plays include potential conventional exploration targets involving sub-thrust hydrocarbon accumulations in fractured carbonates. Gustavson's assessment is limited to the potential undiscovered oil and gas resources underlying the company's licenses.

The report notes that:

"The primary exploration targets are sub-thrust fractured carbonate reservoirs similar to those discovered in the 1990's in the Apennines of Italy. During the same time Shell and Coparex discovered a deep under-thrust structure within the blocks that, by their calculations, has the potential to contain a combined 820 million barrels (MMBO) recoverable of oil."

It states: "Manas has this opportunity because Shell and Coparex suspended all exploration activity and abandoned the blocks in reaction to the extreme unrest in Albania and the conflict in neighboring Kosovo allowing Manas to later acquire these superbly defined, giant, virtually drill ready prospects."

In the Gustavson reports closing statement in a discussion regarding the risks and probability of success Gustavson Associates states: "The probability of success for a wildcat well in a structurally complex area such as this is relatively high due to the fact that it is in a structurally favorable area, there exists a proven hydrocarbon source and analogous production exists only 20 to 30 kilometers away."

Manas is currently analyzing the Gustavson report and expects to release further details in approximately three weeks. The company is currently preparing a work program which consists of reprocessing seismic, seismic acquisition and processing to be followed by drilling.

This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates", "believes", "estimates", "expects", "plans", "intends", "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward looking statements.

Contact:

Manas Petroleum Corporation
Bahnhofstr. 9, P.O. Box 155
CH-6341 Baar
Phone: +41-44-718-10-30
Fax: +41-44-718-10-39
E-Mail:

Web:



Source: Manas Petroleum Corporation

[pennytrader0214]

Manas Petroleum Corp. Moves to an Independent Management Structure
Friday February 8, 7:30 am ET

BAAR, Switzerland, February 8 /PRNewswire-FirstCall/ -- Manas Petroleum Corporation moves to an independent management structure in order to enhance corporate governance.

Manas is pleased to announce the appointment of Thomas Flottmann, PhD, as Chief Executive Officer and Rahul Sen Gupta, CFA as Chief Financial Officer. The former CEO, Alexander Becker PhD, and CFO, Peter-Mark Vogel CFA have been appointed Director, New Ventures and Director, Finance. Mr. Becker and Mr. Vogel will continue to play an active role in the company to increase the value of the company by acquiring new projects and negotiating with potential partners and financial institutions.

The addition of Mr. Flottmann and Mr. Sen Gupta compliments Manas Petroleum's already exceptional management resources. Mr. Thomas Flottmann, recent senior geologist of Santos, completed his PhD in conjunction with West Germany's continental deep drilling program. He held several post-doctoral positions in Australia focussing on the analysis of fold-thrust belts and their hydrocarbon and mineral prospectivity. Mr. Flottmann was the principal structural advisor to CRA (now RioTinto) from 1994-1997 working on oil and gas as well as mineral exploration. Most recently Mr. Flottmann was a senior staff geoscientist and specialist advisor across all business units to Santos. He has worked in oil and gas exploration and development in Australia, Egypt, Central Asia, Indonesia, East Timor, Papua New Guinea, Gulf of Mexico and in Iran, where he led a team evaluating the remaining prospectivity in parts of the prolific Dezful Embayment.

A significant part of his work has focussed on the characterisation of fractured and fracture-enhanced gas and oil reservoirs similar to those which occur in oil fields to the south of the company's giant Albanian prospects. Thomas has introduced key structural-based reservoir modelling workflows integrating regional tectonic characterisation, analogue modelling, image log and core description as well as strain and in situ stress characterisation and their impact on reservoir performance. Mr. Flottmann has authored over 30 publications and has presented widely at national and international conferences. He also took part in two research expeditions to Antarctica and has led geological field teams in Australia, Iran and Central Asia. Memberships: PESA, AAPG, Intl Association of Structural Geologists.

Mr. Sen Gupta, recent Managing Director of Bank Sal. Oppenheim, completed his Masters of Economics majoring in finance and political economics in 1997 at the University of Zurich, Switzerland after studying Computer Engineering at the Swiss Federal Institute of Technology (ETH), Switzerland. Mr. Sen Gupta is also a Chartered Financial Analyst (CFA). Most recently Mr. Sen Gupta was a Managing Director at Bank Sal Oppenheim where he was in charge of the Swiss Equity Research Team and was the deputy head of Bank Sal. Oppenheim`s global equity research team. He was further a member of the Global Equity Management Committee of Sal. Oppenheim Group. Mr. Sen Gupta has a strong background in finance and investment banking which he gained through working at various well-known investment houses such as Credit Agricole Indosuez Cheuvreux and Bank Julius Bar & Co. Before joining the equity side, Mr Sen Gupta was working in the derivatives field, responsible for constructing, pricing and partly hedging/trading options. He started his career at the SWX Swiss Stock Exchange in the trading pit in 1994. In 2003, Mr. Sen Gupta was rated 8th best Swiss analyst out of 150 analysts (2003 Stocks Awards) and in 2001 he was top 10 rated European analyst for Leisure and Tourism (Reuters Temptest).

Manas Petroleum's board would like to express its appreciation to Mr. Alex Becker and Mr. Peter-Mark Vogel for their vision and dedication during the past four years and point out that their efforts were an essential component to the company's success in assembling its portfolio of giant exploration assets.

This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates", "believes", "estimates", "expects", "plans", "intends", "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward looking statements.

Internet:

Contact:
Bahnhofstr. 9, P.O. Box 155
CH-6341 Baar
Switzerland
Tel.: +41-44-718-10-30
Fax: +41-44-718-10-39
Email:


Internet:


Source: Manas Petroleum Corporation