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Manas Financial and Operational Results as of June 30, 2010

(PresseBox) (Baar, )
Manas Petroleum Corp. ("Manas") (OTCBB: MNAP) is pleased to announce that it has filed on EDGAR and on SEDAR its quarterly report on Form 10?Q for the quarterly period ended June 30, 2010. The complete document can be viewed at either www.sec.gov or www.sedar.com.

Financial Results for the Six Months ended June 30, 2010

Result of Operations

For the six months period ended June 30, 2010 we had a net income of $55,912,188 as compared to a net loss of $18,925,760 for the comparable period ended June 30, 2009. This increase is mainly due to the gain from the sale of our subsidiary in Albania of $57,850,918 and the difference of the changes in fair value of warrants of $13,935,449 ($533,223 during the six months period ended June 20, 2010 and ($13,402,226) for the corresponding period in 2009). In addition, our investment in Petromanas Energy Inc. ("Petromanas") has positively contributed $2,934,535.

For the six months period ended June 30, 2010 our operating expenses decreased to $4,989,167 from $5,043,161 reported for the same period in 2009. This is a decrease of 1% or $53,994. Lower personnel costs were offset by higher exploration costs, increased consulting fees and higher legal, audit and accounting fees.

Liquidity and Capital Resources

Our cash balance as of June 30, 2010 was $5,650,105. Our total current assets as of June 30, 2010 amounted to $5,984,939 and total current liabilities were $1,481,757 resulting in a net working capital of $4,503,182. In addition, of the 200,000,000 common shares of Petromanas held by us, 10,000,000 were freely tradable as of June 30, 2010. The market value of these freely tradable shares was roughly $2,900,000.

Net cash outflow from operating activities of $3,604,551 for the six months ended June 30, 2010 has slightly increased from net cash outflow of $3,579,816 in the comparable period for 2009.

Net cash inflow from investing activities of $11,640,339 for the six months ended June 30, 2010 has increased from a net cash inflow of $4,976,899 in the comparable period for 2009. This increase is mainly attributable to proceeds from sale of investment of $10,765,810. In the comparable period of the previous year $5,000,939 through the reduction of the bank guarantee in Albania and the reduction of the amount on the escrow account in Mongolia positively affected our cash inflow from investing activities.

Net cash outflow from financing activities of $3,217,143 for the six months ended June 30, 2010 has changed from a net cash outflow of $220,000 in the comparable period for 2009. During the six months period ended June 30, 2010 cash outflows resulted from repayment of contingently convertible loans (i.e. $2,000,000), repayment of debentures (i.e. $4,000,000) and repayment of promissory notes to shareholders (i.e. $540,646). In addition, a bank overdraft of $196,154 was settled and proceeds from the exercise of warrants positively affected cash flow from financing activities by $2,260,958.

About Manas Petroleum Corp.

Manas Petroleum is an international oil and gas company with primary focus on exploration and development in south-eastern Europe, Central Asia and Mongolia. In Albania, Manas participates in a 1.7 million acre exploration project through its equity interest in Petromanas Energy Inc., a Canadian public company. In Kyrgyzstan, Manas has signed a US $54 million farm-out agreement with Santos International Holdings Pty Ltd., a subsidiary of Australia's third largest oil and gas company. In addition to the development of its Kyrgyzstan project, Santos is developing the company's neighboring Tajikistan license under an option farm out agreement. Manas is also developing its Mongolian project, where it has begun a major 2D-seismic program; this project is located adjacent to one of China based Sinopec's largest producing oilfields.

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The publisher indicated in each case is solely responsible for the press releases above, the event or job offer displayed, and the image and sound material used (see company info when clicking on image/message title or company info right column). As a rule, the publisher is also the author of the press releases and the attached image, sound and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.