Undiscovered Equities President, Kevin McKnight names Manas Petroleum (MNAP) Number One Pick for 2011
Undiscovered Equities is a leading provider of equity research on high impact oil and gas exploration projects and other aggressive growth investment opportunities.
(EMAILWIRE.COM, January 07, 2011 ) Boca Raton, FL - Manas Petroleum Corp. (OTCBB: MNAP) $0.60 as of 12/31/10
Manas Petroleum is an international oil and gas company with primary focus on exploration and development in south-eastern Europe, Central Asia, and Mongolia. Since inception, Manas has acquired a spectacular portfolio of high impact exploration properties. Every one of the Company’s giant projects are moving forward and maturing toward production. In Albania, Manas participates in a 1.7 million acre exploration project through its equity interest in Petromanas Energy inc., a Canadian public company. Petromanas Energy Inc., in which Manas holds a 32.29% interest, continued its exploration activities in Albania: The technical seismic acquisition of 105 km in block E in Albania was completed on November 10, 2010. This was to further determine the structural definition of the West Rova, Rova and Papri prospects and adds to around 1,300 km of existing seismic previously acquired by Albpetrol and Coparex and partially reprocessed by DWM Petroleum AG. The new seismic fulfils the minimum work commitment of the first exploration period of the production sharing contract for blocks D and E. In addition Petromanas Energy has prepared a seismic program for blocks 2 and 3 in order to further determine the structural definition of the South Shpiragu 1, South Shpiragu 2 prospects and the Krasi lead. The new seismic in blocks 2 and 3 will be tied to the existing Shpiragu well in order to allow a time-depth correlation of the South Shpiragu prospects.
In Kyrgyzstan, Manas has signed a $54 million USD farm-out agreement with Santos LTD ADR, covering 1.2 billion barrels in place (Scott Pickford, 2005). Santos will continue to drill with Manas on their 6 shallow and deep well programs in 2011. Manas' Development of its license in Tajikistan is now covered by an option farm-in agreement with Santos. In Mongolia Manas intends to use the recently completed 2D seismic data to improve its technical database and its chance of drilling a successful exploration well. After interpretation of the full dataset, Manas will decide whether it is ready to drill one or more exploration wells or that it needs to acquire 3D seismic to define the drilling prospects in better detail. Depending on this decision, Manas hopes to spud the first well in 2011.
The company has an excellent balance sheet with substantial liquid assets and zero debt. Additionally, to expose Manas to a much larger and more sophisticated audience, the Company is continuing to take the necessary steps to become listed on the TSX Venture stock exchange. Importantly, next year looks set to see a very significant acceleration of Manas Petroleum’s activities and surely this company has the greatest upside potential on our list.
With the above in mind, here is the basic concept of the opportunity; the stock right now is trading with a market cap of about $68 million. Manas' equity stake in Petromanas alone is currently worth $80 million. In addition the company has a 74% interest in two large exploration blocks in Mongolia that literally surround two producing oil fields that are operated by Sinopec. Manas also has two giant oil prospects in the Central Asian countries of Kyrgyzstan and Tajikistan both of which are either farmed or optioned out to the Australian giant Santos, Ltd. We feel the company is trading at a substantial discount to the value of their assets. It reminds me of American Oil & Gas (AEZ) which in 2009 we added to our top 10 at $.71 per share. At that time AEZ was also trading at less than cash value with significant acreage assets worth many times its market cap. AEZ was recently taken over by Hess Corp with a value today of over $12 per share. That being said, we believe Manas is at the front end of a huge breakout.
About Undiscovered Equities
Undiscovered Equities is a leading provider of equity research on high impact oil and gas exploration projects and other aggressive growth investment opportunities. Our services include research analysis on the energy and precious metals markets, news and financial data, market commentary and the Undiscovered Equities newsletter. Undiscovered Equities' staff of small cap investment professionals are dedicated to providing the investment community with the tools and avenues necessary to capitalize on the energy boom, invest their money wisely and build wealth. To view our newsletter on a complimentary trial basis and take advantage of our other services go to www.undiscoveredequities.com and join our email list on our home page.
Company: Undiscovered Equities, Inc
Contact: Kevin McKnight
Phone: 561-699-0537
Email: kevinmcknight@ktmconsulting.com
Diclosure/Forword Looking Statement
http://www.undiscoveredequities.com/disclaimer.html
Contact Information:
Undiscovered Equities, Inc.
Kevin McKnight
Tel: 5616990537
(EMAILWIRE.COM, January 07, 2011 ) Boca Raton, FL - Manas Petroleum Corp. (OTCBB: MNAP) $0.60 as of 12/31/10
Manas Petroleum is an international oil and gas company with primary focus on exploration and development in south-eastern Europe, Central Asia, and Mongolia. Since inception, Manas has acquired a spectacular portfolio of high impact exploration properties. Every one of the Company’s giant projects are moving forward and maturing toward production. In Albania, Manas participates in a 1.7 million acre exploration project through its equity interest in Petromanas Energy inc., a Canadian public company. Petromanas Energy Inc., in which Manas holds a 32.29% interest, continued its exploration activities in Albania: The technical seismic acquisition of 105 km in block E in Albania was completed on November 10, 2010. This was to further determine the structural definition of the West Rova, Rova and Papri prospects and adds to around 1,300 km of existing seismic previously acquired by Albpetrol and Coparex and partially reprocessed by DWM Petroleum AG. The new seismic fulfils the minimum work commitment of the first exploration period of the production sharing contract for blocks D and E. In addition Petromanas Energy has prepared a seismic program for blocks 2 and 3 in order to further determine the structural definition of the South Shpiragu 1, South Shpiragu 2 prospects and the Krasi lead. The new seismic in blocks 2 and 3 will be tied to the existing Shpiragu well in order to allow a time-depth correlation of the South Shpiragu prospects.
In Kyrgyzstan, Manas has signed a $54 million USD farm-out agreement with Santos LTD ADR, covering 1.2 billion barrels in place (Scott Pickford, 2005). Santos will continue to drill with Manas on their 6 shallow and deep well programs in 2011. Manas' Development of its license in Tajikistan is now covered by an option farm-in agreement with Santos. In Mongolia Manas intends to use the recently completed 2D seismic data to improve its technical database and its chance of drilling a successful exploration well. After interpretation of the full dataset, Manas will decide whether it is ready to drill one or more exploration wells or that it needs to acquire 3D seismic to define the drilling prospects in better detail. Depending on this decision, Manas hopes to spud the first well in 2011.
The company has an excellent balance sheet with substantial liquid assets and zero debt. Additionally, to expose Manas to a much larger and more sophisticated audience, the Company is continuing to take the necessary steps to become listed on the TSX Venture stock exchange. Importantly, next year looks set to see a very significant acceleration of Manas Petroleum’s activities and surely this company has the greatest upside potential on our list.
With the above in mind, here is the basic concept of the opportunity; the stock right now is trading with a market cap of about $68 million. Manas' equity stake in Petromanas alone is currently worth $80 million. In addition the company has a 74% interest in two large exploration blocks in Mongolia that literally surround two producing oil fields that are operated by Sinopec. Manas also has two giant oil prospects in the Central Asian countries of Kyrgyzstan and Tajikistan both of which are either farmed or optioned out to the Australian giant Santos, Ltd. We feel the company is trading at a substantial discount to the value of their assets. It reminds me of American Oil & Gas (AEZ) which in 2009 we added to our top 10 at $.71 per share. At that time AEZ was also trading at less than cash value with significant acreage assets worth many times its market cap. AEZ was recently taken over by Hess Corp with a value today of over $12 per share. That being said, we believe Manas is at the front end of a huge breakout.
About Undiscovered Equities
Undiscovered Equities is a leading provider of equity research on high impact oil and gas exploration projects and other aggressive growth investment opportunities. Our services include research analysis on the energy and precious metals markets, news and financial data, market commentary and the Undiscovered Equities newsletter. Undiscovered Equities' staff of small cap investment professionals are dedicated to providing the investment community with the tools and avenues necessary to capitalize on the energy boom, invest their money wisely and build wealth. To view our newsletter on a complimentary trial basis and take advantage of our other services go to www.undiscoveredequities.com and join our email list on our home page.
Company: Undiscovered Equities, Inc
Contact: Kevin McKnight
Phone: 561-699-0537
Email: kevinmcknight@ktmconsulting.com
Diclosure/Forword Looking Statement
http://www.undiscoveredequities.com/disclaimer.html
Contact Information:
Undiscovered Equities, Inc.
Kevin McKnight
Tel: 5616990537
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