Drilling to Commence in Kyrgyzstan
– Manas Petroleum Corp. (MNAP.OB)
Manas Petroleum is pleased to report that drilling of the first of two
shallow exploration wells by the Kyrgyz joint venture, SPC (South Petroleum
Company) is expected to commence within the next weeks.
The prospects to be drilled are from a series of shallow prospects first
identified after reprocessing Soviet seismic and then subsequently confirmed
with seismic acquired by SPC in 2008 and early 2009. SPC is the Kyrgyz joint
venture company created to explore and develop Manas 5 Kyrgyz licenses.
This shallow drill program is the result of the highly successful SPC
seismic program. The program has greatly matured the licenses’ deeper
prospects while also defining shallow prospects that are within a few
kilometers of existing light oil production.
Over 800 km of 2D seismic has been shot by SPC. This includes
approximately 240 km of 2D seismic acquired by an Iranian crew using a French
Sercel 408 station and Nomad 65 vibrators. A further 200 km of seismic is
expected to be acquired this year.
The first well is to test the North Ayzar prospect which is in the SPC’s
Tuzluk license. The rig is a 650hp Chinese Zj20 which is capable of drilling
up to 2400 m deep. Major service contractors and the rig are currently in the
process of being mobilized from the North of
location. The Northern Ayzar-1 well is to test the established oil saturated
paleogene sandstone and limestone strata from 1650 to 1900 meters in depth.
The depth of the total well is 2 km (6,561 feet) and should take
approximately 3 to four weeks to drill. The prospect is approximately 5km
northeast of the Beshkent Togap Tashravat field and 10km southwest of the
Niyazbek-Severnity Karachikum oil field.
The second planned well is to test the East Chongora prospect, which is
within the Soh license area. The Eastern Chongara exploration well is to test
the same oil saturated paleogene sandstone and limestone beds which have been
producing oil from the neighboring North Soh oil and gas field , and the
Chongara Gulacha oil field, for over 60 years.
In the event of exploration success, and to eliminate standby time costs,
testing of the wells will commence once both wells have been drilled and
completed. The drilling by Santos-SPC of the deep subthrust prospects is
expected to commence Q1/2010.
About Manas Petroleum
Manas Petroleum has acquired major tracts of oil & gas exploration
area is within a proven petroleum system, and is near already producing
shallow oil fields. Total potential of seismically defined exploration
prospects exceeds an independently verified, 4 billion recoverable boe. Manas
has farmed out its
acquiring seismic within the Manas license.
Manas and its predecessor DWM Petroleum have raised a total of around US
and maturing its exploration portfolio. Manas Petroleum’s large light oil
projects, which range from high risk exploration to discovery appraisal, are
now drill ready. In
to secure a partner for drilling its
includes the appraisal of a light oil discovery.
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 advice 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 Tel: +41-44-718-10-30 Fax: +41-44-718-10-39 E-Mail: email@example.com Internet: http://www.manaspete.com
SOURCE Manas Petroleum Corporation