BAAR, SWITZERLAND, February 9th, 2009.
Manas Petroleum ("Manas") (OTCBB: MNAP) is pleased to report that it and WWI Resources (a TSX-V listed company) have extended their arm's length binding Letter-Of-Intent (LOI) dated November 19, 2009 in order to allow Manas the necessary time to finalizing all administrative procedures as required and are a part of the closing of the transaction. Manas is moving forward diligently and quickly to complete all requirements.
At closing, the Albanian Subsidiary will hold three Production Sharing Contracts (PSCs) for on-shore Blocks in Albania that comprise 1.7 million net acres with 100% working interest.
The PSCs are for Blocks A, B, D, E and for Blocks 2 & 3. There have been nine large structures identified in Blocks A, B, D & E and three structures on Blocks 2 & 3. It is important to note that Block 2 is within the area where Bankers Petroleum's (BNK.TO) current shallow oil is derived. Manas has the right to explore and produce oil from the deeper targets.