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Manas Petroleum Corp.

Manas Petroleum Corp. appoints Dr. Richard Schenz as an Independent Director

Baar, Switzerland (ots)

Manas Petroleum Corp. (MNAP.OB)
Manas Petroleum Corporation announces
that the Board of Directors has unanimously appointed Dr. Richard
Schenz as an Independent Director.
"We are pleased to welcome Dr. Richard Schenz as a member of
Manas' board," stated Heinz J. Scholz, Manas's Chairman of the Board.
"With his experience and expertise as the former CEO of OMV, Central
Europe's leading oil and gas company, we see him becoming a valuable
contributor to Manas's future."
Dr. Schenz studied technical physics in Vienna and finished with a
PhD. In 1969 he started his career with the Austrian oil & gas
company OMV, and was its CEO from 1992 to 2001. In 2001 Dr. Schenz
was appointed representative for the Austrian Capital Market by the
Austrian government. Additionally Dr. Schenz holds the positions of
Vice President of the Austrian Federal Economic Chamber and President
of the International Chamber of Commerce in Austria (ICC-Austria). In
2002 he was appointed Chairman of the Austrian commission for
Corporate Governance.
Description of the company
Manas Petroleum is an international oil and gas company.  Its
activities are primarily in South-Eastern Europe, Central Asia and
South America.
In Albania Manas has developed a giant exploration project with a
total resource potential (P50) of 3 billion barrels (independent
resource evaluation, Gustavson, 2008). Manas has also recently signed
a PSC with the Albanian government covering 2 blocks, one which
includes a light oil discovery. In Kyrgyzstan Manas has signed a US
$54 million farm-out agreement with Santos a large independent
Australian oil and gas producer covering its 1.2 billion barrels in
place, light oil play (independent resource evaluation Scott
Pickford, 2005). Drilling is expected to begin imminently.  The
development of the company's neighboring Tajikistan license is now
covered by an option farmin agreement also with Santos where a
seismic program was recently completed. In Chile, Manas and US
partner IPR farmed out a large natural gas exploration project to a
consortium of local operators. Work developing the natural gas
exploration play is expected to commence early 2009. In Mongolia the
company recently completed a phase 1 geological program which defined
structural trends with potential petroleum accumulations in
preparation for a planned 2009 seismic program.
Manas Petroleum Corporation is currently listed on the NASDAQ OTC
Bulletin Board (MNAP.OB).
Disclaimer
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:

Bahnhofstr. 9
P.O. Box 155
CH-6341 Baar
Switzerland
Phone: +41/44/718'10'30
Fax: +41/44/718'10'39
Email: info@manaspete.com
Internet: www.manaspete.com

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  • 10.11.2008 – 17:35

    Manas Petroleum Corp.: Albanian Production Sharing Contract for Blocks 2 and 3 Approved

    Manas Petroleum Corp. (MNAP.OB) (Manas) Baar, Switzerland (ots) - Manas Petroleum Corp., a Baar, Switzerland based company, today announces its wholly owned subsidiary, DWM Petroleum AG, has signed a Production Sharing Contract (PSC) for Blocks 2 and 3 in Albania. The blocks cover approximately 3,400 km2 (approximately 850,000 acres). The Albanian government was ...

  • 16.10.2008 – 15:00

    Manas Operations Update

    Baar (ots) - Manas Petroleum Corp. (MNAP.OB) All of Manas' operations are on track and progressing ahead of expectations. Albania (100% Manas) Our key project benefited substantially from the 190km 2D vibroseis seismic program which concludes today October 16th. The data produced by GII (Geophysical Institute of Israel) exceeded our expectations; identifying potentially new prospects in Block A and refining potential drill targets originally identified by ...