Manas’ management reports operations are on track

Switzerland, April 26 – A board meeting earlier this month showed that Manas Petroleum Corporation’s projects are both on schedule and spending is being kept within the proposed budget.
Geoscientists of the Tirana office of DWM (a 100 percent Manas subsidiary) are finalizing the design of a 400 KM 2-D seismic program to refine nine possible oil sites in Albania.
An independent report by Gustavson Associates speculates that there may be 3.030 billion barrels of oil at these sites with 3.056 trillion cubic feet of associated gas.
Properties previously acquired by Shell, Occidental Petroleum and Coparex are currently being reprocessed by Denver based GeoConcept and 70 percent of the 350 km reprocessing program is reportedly completed.
An environmental study, a pre-requisite to perform seismic exploration work, has been finished.
Manas sees Albania as a key asset and presently intends to retain a 100 percent interest in the project while also evaluating further onshore opportunities in the country. (Tirana Times Staff)