Project Profile
Location and Basin Name:
Ulaanbaatar is located 440 kilometers (270 miles) to the northwest of the Manas Blocks 13 --Tsagaan-Els and 14 - Zuunbayan. Mongolia is a vast country of mountains, lakes, deserts, and grasslands with a total area of 1,564,100 square kilometers (603,902 square miles). Blocks 13 and 14 are in the East Gobi Basin. The blocks are in the province of Dornogovi in the southeast of Mongolia.
DWM Petroleum, a wholly-owned subsidiary of Manas Petroleum Corporation, has legal title to Blocks 13 and 14. Twenty-six percent of the beneficial title to these blocks is held in trust for others -- ten percent in favor of a Mongolian oil and gas company, subject to regulatory approval and negotiations, and eight percent for each of two investor groups. The blocks, which cover an aggregate of over 20,000 square kilometers (almost five million acres) of land, are located on Mongolia\'s southern border. The production contracts provide for a five-year exploration period (with two optional six month extensions) beginning on April 21, 2009, and a twenty-year exploitation period (with two five year extensions). The Mongolian government is entitled to 12.5% royalty interest.
Operators:
Manas Petroleum Corp.
Gobi Energy Partners LLC
Contractors:
Sinopec: Sercel equipment for the seismic survey