BAAR, SWITZERLAND–(Marketwired – Jan 23, 2014) – MNP Petroleum Corporation (“MNP” or the “Company”) (TSX VENTURE: MNP) (OTCQB: MNAP) is pleased to announce that CJSC Somon Oil, a Tajik company whose 90% shares are owned by DWM Petroleum AG, a wholly-owned subsidiary of MNP, has commenced operation on its Western license by starting the preparation of the drilling location and access road for its first well.
CJSC Somon Oil is the license holder and operator of the Western license, covering the Zapadnyi (Novobod and Obchai-Kalacha allotments) contract area, and the Northwestern license, covering the Severo-Zapadnyi contract area. Both licenses are located in the prolific Fergana Basin in the Sugd region northern Tajikistan, and both licenses are operated under a Production Sharing Contract dated May 7, 2012. Interpretation of recently acquired seismic resulted in several drill ready prospects and CJSC Somon Oil has selected Kayrakkum B as the first well to be drilled. It is intended to spud beginning of the third quarter 2014.
On January 16, 2014, CJSC Somon Oil entered into a contract with JSC Sugdnaftugaz for the construction of the drilling location and the access road for the Kayrakkum B exploration well. JSC Sugdnaftugaz, based in Neftebad, Tajikistan, is a reputable oil field contractor with over 50 years of experience in these operations in the area.
Dr. Werner Ladwein, CEO and President of MNP, stated, “that achieving this milestone for the exploration campaign of MNP in Tajikistan is a very important step for the exploration of this part of the Fergana basin.”
For further information please contact:
Chief Financial Officer, Treasurer and Secretary
MNP Petroleum Corp.
Bahnofstr. 9, P.O. Box 155
CH-6341 Baar, Switzerland
Phone: +41 44 718 1030
Fax: +41 44 718 1039