Some information / facts to help you get started with your research on MANAS; and reasons why I invested in MANAS back in Oct.-Nov. 2006 after connecting the "Dots" between Dr. Becker and CIG / PRU (invested in CIG/PRU back in OCT.2006 - See my posts on SS at that time); And why IMHO MHL's SP has the potential to increase substantially; and why a US oil company would want to J/V with MHL in Kyrgyz.
EDYOR&DD
Cheers, Brantley
Dr Alexander Becker, Manas CEO, background:
Dr Becker was a Director of Afminex Ltd which split into two companies, Caspian Oil & Gas Limited and Perseus Mining Limited. He was a Director of both those companies and later resigned but remained as a consultant to the two companies.
//According to Kyrgyz government records going back nearly 100 years, every structure that has been drilled in the area has resulted in a discovery.
But how did they know where the best lands were? Years of experience and hard work. In recognition, Manas CEO Alex Becker was named the Republic’s top mapping geologist 20 years ago, when the Soviets were identifying the locations of the area’s yet-to-be-tested deep oil structures. He knows the area intimately, and even America’s top experts agree with him regarding these structure’s potential.
The United States Geological Survey estimates that there remains 3.2 billion produceable barrels of oil in the basin and that they should be contained in precisely the type of formations that have been identified on Manas lands.
London based reservoir engineers Scott Pickford Ltd. calculate a potential 1.22 billion barrels in place with 622 Bcf gas from just 10 of the 23 structures so far identified. The engineering group also calculated the Net Present Values discounted at 10% using a mountain of seismic and geological data including well studies. They came up with a NPV10 of US $1.63 billion which rose to $2.39 billion if water injection was used for production.
Clearly we expect to end up with a lot more than the 10 prospects that were the subject of the Pickford engineering studies. Although the results are already exceptional.//
MHL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
