• Manas Petroleum announces filing of Certain Oil and Gas Reports Required by Canadian Securities Laws.

    18.03.2010

    NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES.

    Baar, Switzerland, March 18, 2010

    Manas Petroleum Corp. ("Manas") (OTCBB: MNAP) is pleased to report that it has filed on SEDAR both its Form 51-101F1, Statement of Reserves Data and Other Oil and Gas Information, and its Form 51-101F3, Report of Management and Directors on Oil and Gas Disclosure, both as of December 31, 2009.

    As previously announced by Manas in a news release dated February 24, 2010, it recently completed the sale of its Albanian project to Petromanas Energy Inc., a Canadian company listed on the TSX Venture Exchange, in exchange for cash and shares of Petromanas Energy Inc. Petromanas Energy Inc. has filed on SEDAR a four reports prepared for Manas by Gustavson Associates LLC evaluating, among other things, the prospective resources and the economics of the hypothetical development of those prospective resources. These reports can be viewed on the SEDAR profile for Petromanas Energy Inc. at www.SEDAR.com. Manas continues to own an indirect interest in the Albanian project through its ownership of shares of Petromanas Energy Inc.

    It should be noted that, as disclosed in the two reports filed by Manas Petroleum on SEDAR and the four reports filed by Petromanas Energy on SEDAR, the Albanian project has no reserves. The four reports prepared by Gustavson Associates provide only a probabilistic evaluation of the hypothetical development of prospective resources. "Prospective Resources" are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects. Prospective resources have both an associated chance of discovery and a chance of development. There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources.
    The United States Securities and Exchange Commission permits U.S. oil and gas companies, in their filings with the SEC, to disclose only proved reserves, that is reserves that geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions (i.e., prices and costs as of the date that the estimate is made). Manas uses certain terms in this press release and in the reports referred to in this press release, such as "prospective resources", that the SEC's guidelines strictly prohibit in filings with the SEC by U.S. oil and gas companies. Investors should refer to Manas Petroleum's annual report filed on Form 10-K with the SEC its EDGAR website for further disclosure about its properties, including disclosure of certain risks faced by Manas Petroleum.

    For further information please contact:
    Erik Herlyn
    Manas Petroleum Corp.
    Bahnofstr. 9 P.O. Box 155
    CH-6341 Baar, Switzerland
    Phone: +41 44 718 1030
    Fax: +41 44 718 1039
    Email: info@manaspete.com
    Web: www.manaspete.com

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