Mongolia

Manas Petroleum Corp., Baar, Switzerland, signed production sharing contracts covering blocks 13 and 14 in southeastern Mongolia.

By OGJ editors
HOUSTON, Apr. 28 -- Manas Petroleum Corp., Baar, Switzerland, signed production sharing contracts covering blocks 13 and 14 in southeastern Mongolia.

The blocks total almost 5 million acres along the border with China 500-600 km southeast of Ulaanbaatar.

Manas has identified several leads from seismic and plans to start a $1.6 million nondrilling exploration program in mid-2009.

Manas holds 74% interest in the blocks. A Mongolian oil and gas company and two investors hold the rest.

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