North West Tajik license area granted to ManasMANAS Petroleum Corp. (MNAP.OB)Baar, Switzerland, August 10, 2009.
Manas Petroleum Corporation announces that its 90% owned subsidiary, Somon Oil was granted the Tajik “North-West” petroleum license which covers 2492 km2 (615 784 acre) of exploration area. The license entitles for 7 years of exploration. In case of discovery Somon Oil has an exclusive right on the discovered field.
The license area is located in the north part of the Sugd region, and is bordering with Uzbekistan and the Uzbek pipeline network. In the south-west the license area is adjacent with Somon Oils western license areas Novobod and Obchai-Kalacha. All producing fields of North Tajikistan are located less than 20 KM south. Existing exploration data within the North-West license area contain 6 wells and 1100 km of 2-D seismic which was acquired during Soviet exploration campaigns between 1964 and 1992.
Somon Oil targets large four-way closure prospects in the North-West license area at a depth of 3,5-4,5 km. The under thrust four way closure prospects in the North part are in the same geological setting as the giant Minbulag field which is located across the border in Uzbekistan. The Minbulag field is the largest oil field within Fergana basin. The stratigraphy, lithology, reservoirs and seal of the North-West area are identical to other parts of Fergana basin. Oil shows in uranium exploration wells (1950s) which penetrate reservoir beds in the upper thrust sheet proves oil generation and migration in the area.
The 7 years work program contains 400 KM of 2-D seismic, 100 KM2 of 3-D seismic and 2 deep wells.
Financing for the exploration up to discovery is secured by the existing option farmout to Santos.
Manas Petroleum Corporation (Manas Petroleum) is a development-stage company engaged in the business of exploring for oil and gas, primarily in Central Asia and the Balkans. The Company is focused on the exploration of light oil prospects. The Company carries out operations both directly and through participation in ventures with oil and gas companies to whom it has farmed out a project. The Company is involved in projects in the Kyrgyz Republic, Albania, Tajikistan, Mongolia and Chile.
Undiscovered Equities is currently offering a complimentary trial subscription. To view the full report on Manas Petroleum visit: www.undiscoveredequities.com Undiscovered Equities is a leading provider of equity research on high impact oil and gas exploration projects. Our services include, research analysis on the energy and precious metals markets, news and financial data, market commentary and the Undiscovered Equities newsletter. Undiscovered Equities' staff of small cap investment professionals are dedicated to providing the investment community with the tools and avenues necessary to capitalize on the energy boom, invest their money wisely and build wealth. To view our newsletter on a complimentary trial basis and take advantage of our other services go to www.undiscoveredequities.com and join our email list on our home page.
Disclosure: Undiscovered Equities is not a registered investment adviser and nothing in this release should be construed as a recommendation to buy or sell securities. Undiscovered Equities has been compensated by the above mentioned company for I/R services.
CONTACT:email: info@undiscoveredequities.com
www: www.undiscoveredequities.com
phone: 1 (800) 404-8982
For questions and additional information, please call me toll-free at 1-800-404-8982, or visit our website at www.undiscoveredequities.com
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment