Everybody has probably already heard about the first exercises of the CSTO rapid reaction force in Kazakhstan today, where President Dmitry Medvedev wanted to make sure he was the most well dressed autocrat to show up to the party.  I do often wonder if the Kremlin hired the same people George W. Bush used to use to stage manage these kinds of Hollywood-esque media performances.  From Reuters:Dressed in combat fatigues, the leaders of Russia, Armenia, Kazakhstan, Kyrgyzstan and Tajikistan looked on as the force carried out a mock attack to destroy "insurgents" who had taken control of a chemical plant. Smoke rose from a dew-drenched firing range in the Kazakh steppe, revealing paratroopers landing from helicopters and storming a building ...

At the end of August, I telephoned the well-known Kazakh human rights advocate Yevgeny Zhovtis and asked how things were going on "the front" with the criminal case that had been opened in relation to him. Yevgeny replied that in connection with the celebration of the Day of the Constitution of Kazakhstan, the trial had been postponed until 2 September. I also asked him, as a lawyer, what the punishment could be with respect to the charge that had been brought against him of having committed a DTP [a "road transport event", known as a "motor vehicle accident" in English--Trans.], as the result of which a person died? Inasmuch as the person who died was himself at fault

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Today it was announced that a new research report has been issued on Manas Petroleum by Cohen Independent Research Group. In the 34-page research report, a “Buy” rating, $1.65 short term price target, $3.75 medium term price target, and $6.56 long term price target were given to the company.

Manas Petroleum Corp. is an oil and gas exploration and development company with a diversified and balanced portfolio of assets in Eastern Europe and Central Asia which were neglected or stranded by former exploration programs. The company’s oil & gas acreage in Albania, Mongolia, Kyrgyzstan, Tajikistan and Chile have seismically and through exploration drilling defined exploration prospects of more than 7.4 billion recoverable barrels of oil equivalent (boe).

Based on current resources and expected commercialization of Manas Petroleum’s prospects, Cohen Independent Research Group forecasts theoretical revenues of $2.1 million for FYE 2010 and in excess of $2.4 billion by 2018. The research

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MANAS Petroleum Corp. - MNAP.OB Research Report by Cohen Independent Research Group, Inc Brought to you by Dr Stock Pick

Symbol

MNAP.OB

Exchange

OTCBB

Recommendation

BUY

Current Price

0.59

52 Week High/ Low

1.01/ 0.08

Avg volume (3 mo.)

297,563

Shares Outstanding

119.05

Current Market Value (in Mn)

70.24

Beta (36 Month) Average

NA

MNAP.OB 2009

SymbolCohen Price Index Target in $ Cohen Short-Term Price Index Target 1.65 Cohen Medium-Term Price Index Target 3.75 Cohen Long-Term Price Index Target 6.56

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INVESTMENT THESIS AND RECOMMENDATION

Manas Petroleum Corp. (OTC BB: MNAP), is an exciting oil and gas exploration and development Company. The Company has a diversified and balanced portfolio of assets with giant hydrocarbon assets in Eastern Europe and Central Asia which were neglected or stranded by former exploration programs. The Company’s oil & gas acreage in Albania, Mongolia, Kyrgyzstan, Tajikistan and Chile have seismically and

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Manas Petroleum reported that it has started drilling its second exploratory well in Kyrgyzstan, a country located in central Asia. The well, called the Huday Nazar SPC-1, is set to be drilled to a depth of 2400 meters and take from 30-40 days to complete.

The company has six exploration licenses in Kyrgyzstan covering 3,152 square miles. Manas Petroleum has an agreement with Santos International Holdings Pty Ltd to jointly develop its acreage contained in these licenses. Manas Petroleum is targeting the Fergana Basin, which is located between two existing producing fields nearby.

Oil was first discovered in the Fergana basin in 1901, and the company believes that despite its age, the field can still be explored and developed efficiently on a cost effective basis. Manas Petroleum drilled its first well in Kyrgyzstan in June 2009. The North Ayzar- 1 was drilled to 1950 meters. The

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