BAAR, Switzerland, Dec. 24, 2012 /PRNewswire/ -- Manas Petroleum Corp. ("Manas") (TSX-V: MNP); (OTCBB: MNAP) announces that on December 21, 2012, its wholly-owned subsidiary DWM Petroleum AG ("DWM") has been informed by Santos International Ventures Pty Ltd ("Santos") that it has decided not to pursue their option granted by DWM in December 2007 to farm-in into CJSC Somon Oil ("Somon Oil"), a Tajik company having 100% interest in two exploration blocks.
DWM is in negotiations to setup a new consortium for this world-class acreage.
With regards to the rehabilitation project, DWM is in the final process of negotiating a Share Purchase Agreement, which will be entered into before the end of January 2013 with an unrelated third party.
An update on both transactions will be given by the end of January 2013.
About Manas Petroleum Corp.
Manas Petroleum is an international oil and gas company with primary focus on exploration and development in South-Eastern Europe, Central Asia and Mongolia. In Albania, Manas participates in a 1.7 million acre exploration project through its 15.8% equity interest in Petromanas Energy Inc., a Canadian public company. In the Kyrgyz Republic, Manas has a 25% working interest in two exploration blocks. In Tajikistan Manas owns 90% working interest in a Production Sharing Agreement covering the license areas Zapadnyi and Severo-Zapadnyi in the Soughd region through its wholly-owned subsidiary DWM Petroleum AG. In Mongolia, Manas owns 74% working interest in two Production Sharing Contracts covering Blocks XIII and XIV through its wholly-owned subsidiary DWM Petroleum AG.
SOURCE Manas Petroleum Corp.
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