the next large oil group
New York, NY (Vocus) October 5, 2009
Swiss based Manas petroleum has the chance to become a large player in the petroleum businesses. This exploration Company has drilling rights for gigantic oil reserves. Supervisory board president and founder Heinz Scholz and CEO Erik Herlyn are interviewed by Cash.ch.
Schulz and Herlyn want to build Manas Petroleum into what "World Finance" last year simply stated "the next large oil group".
Manas is diversified: with a total of 16 blocks in the countries of Mongolia, Kyrgyzstan,Tajikistan, Chile and in Albania where probably the largest reserves lie.
About Manas Petroleum:
Manas Petroleum is an international oil and gas company, focusing on activities in South-Eastern Europe, Central Asia and South America. In Albania, Manas has developed a large exploration project with a total resource potential (P50) of 3 billion barrels (Gustavson, 2008). Four blocks are now drill-ready. The council of ministers recently ratified the production-sharing contract on two bocks to DWM Petroleum, a subsidiary of Manas. A 51-101-compliant estimate is now being prepared. In Kyrgyzstan, Manas has signed a $ 54 million USD farm-out agreement with Santos LTD ADR, covering 1.2 billion barrels in place (Scott Pickford, 2005). Drilling is currently underway. Manas' Development of its license in Tajikistan is now covered by an option farm-in agreement with Santos LTD ADR, where a seismic program has been recently completed. In Chile, Manas and its U.S. partner, IPR, farmed out a large natural gas exploration project to a consortium of local operators. In Mongolia, the Company recently completed a Phase 1 geological program, defining structural trends with potential petroleum accumulations. A seismic program is currently underway. Details of these projects are located on the Company's website: http://www.manaspete.com
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