BAAR, SWITZERLAND, November 3, 2010
Manas Petroleum Corporation (OTCBB: MNAP) ("Manas") is pleased to announce that the seismic acquisition on block 14 has been completed without incident. The Chinese contractor DQE International Tamsag (Mongol) LLC acquired 162.4 km of 2D seismic, representing 54.1% of the total seismic program on blocks 13 & 14. All equipment and crew have been moved to block 13, where seismic acquisition has commenced. Manas anticipates that the seismic survey will be completed by the end of November 2010.
Manas intends to use the additional 2D seismic data to improve its technical database and its chance of drilling a successful exploration well. After interpretation of the full dataset, Manas will decide whether it is ready to drill one or more exploration wells or that it needs to acquire 3D seismic to define the drill prospects in better detail. Depending on this decision, Manas hopes to spud the first well in 2011.
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 equity interest in Petromanas Energy Inc., a Canadian public company. In Kyrgyzstan, Manas has signed a US $54 million farm-out agreement with Santos International Holdings Pty Ltd., a subsidiary of Australia's third largest oil and gas company. In addition to the development of its Kyrgyzstan project, Santos is developing the company's neighboring Tajikistan license under an option farm out agreement. In Mongolia, Manas owns record title to the two Production Sharing Contracts covering Blocks XIII and XIV through its wholly-owned subsidiary DWM Petroleum AG, but 26% of the beneficial ownership interest in these blocks is held in trust for others.
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