Switzerland-based Manas
Petroleum Corp. has planned an upcoming gravity survey to prepare a 300-km
seismic campaign on blocks 13 and 14 in Mongolia. Manas is debt free and
believes that it will be able to meet with the existing funds all its cash
requirements planned for the next 12 months.

Manas” team of geologists and geophysicists in Ulaanbaatar has initiated the
re-interpretation of existing geological data. A plan for environmental
protection and restoration has been prepared but is subject to the approval of
the Ministry of Environment in Mongolia. Data from a total of 451 existing
wells drilled in the Zuunbayan and Tsagaan Els oil field areas and in the
company”s prospects has been collected. All well data was translated from
Russian and Mongolian into English for analysis by international experts.