Tous Actualités
Suivre
Abonner Manas Petroleum Corp.

Manas Petroleum Corp.

Manas Petroleum signed Mongolian Oil Exploration Block Memorandum of Understanding

Un document

Baar (ots)

- Note: Further information can be downloaded as pdf on 
     http://www.presseportal.ch/de/pm/100013326 -
Manas Petroleum Corp. (OTC.BB: MNAP) has signed a MOU
with a Mongolian company, Shunkhlai Energy, regarding petroleum
exploration in block XXIII. Manas Petroleum has a right to purchase
a 90% interest in the Mongolian company, which has won a bidding
round for the block XXIII.
Block XXIII is situated in the Gobi desert in the southern part of
Mongolia bordering China and totals 18,091 km2 (4.47 million acres)
of highly prospective oil-bearing area (outlined in red on attached
map). Across the border in China (Inner Mongolia Autonomous Region in
North China) the Gobi desert is known as one of the major producing
regions of China.
Block XXIII is located in this oil bearing province and has
multiple oil seeps where reservoir rocks outcrop. The same reservoir
rocks are producing oil in Zuunbayan and Tsagaantsav shallow oil
fields which are situated in close vicinity to the north of block
XXIII. The oilfields are operated by a Chinese company Dong Sheng,
which is a branch of PetroChina, which operates in the north of China
and in Mongolia. The two producing oilfields are very shallow (a few
hundred metres deep). To the south in China's Inner Mongolia
Autonomous Region is a large natural gas field discovered by
PetroChina.  The field is currently estimated to contain over 600
billion cubic meters (21.18 trillion cubic feet) of natural gas and
500 million tons (3.6 billion barrels) of oil.
Large structures have been identified by old Soviet seismic
acquired within Block XXIII during the 1970s. The structures are
situated beneath regional thrust faults and may entrap large volumes
of hydrocarbons in the same reservoir rocks which produce
hydrocarbons in the upper thrust sheet close to the surface.
In July 2007, field work performed by Manas Petroleum in the
territory of block XXIII, confirmed the structural model and also
indicated the presence of large thrust-related prospects throughout
the block.
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:

Alexander Becker
CEO Manas Petroleum Corp.
Phone: +41/44/718'10'30
E-Mail: info@manaspetroleum.com