Russia 'counts on a controlling stake' in the three small hydropower plants it is building in Tajikistan and 'hope[s] for the Tajik side's understanding' in the matter.  The United Nations nuclear watchdog is in the process of inspecting Iran's uranium enrichment plant.  Both Iran and the U.S. are wary of falling into a trap over the nuclear question, reports the New York Times, and President Barack Obama reportedly called Dmitry Medvedev over the weekend to discuss the need to maintain Russian and U.S. unity over the issue.  The environmental safety of the Nord Stream project has been questioned by several of the transit countries, including Finland, but Vladimir Putin's meeting with his Finnish counterpart yesterday seemed to leave the schedule for completion in place.  China's oil demand is recovering at its fastest rate since June 2006.  ...

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 ...

Energy XXI (Bermuda) Limited (EXXI) Gulf Coast, Inc. (the “Company”) today September 4, 2009 announced it has commenced an exchange offer and consent solicitation in respect of its 10% Senior Notes due 2013 (the “Senior Notes”).

The Company has commenced an offer to exchange up to $360 million principal amount outstanding Senior Notes properly tendered (and not validly withdrawn) and accepted by the Company for its newly issued 16% Second Lien Junior Secured Notes due 2014 (the “Second Lien Notes”), subject to proration and reduction to $311 million principal amount of Senior Notes, depending on the aggregate principal amount of Second Lien Notes sold in a concurrent private placement.

About Energy XXI

Energy XXI is a Houston-based independent energy company engaged in the acquisition, development, exploration and production of oil and natural gas reserves in the U.S. Gulf Coast and the Gulf of Mexico. The Company an indirect wholly owned subsidiary of the

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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., the Swiss-based international oil exploration and development company, stands out in its cost-sensitive approach to acquiring land positions in major oil basins around the world. The Manas strategy is to acquire and farm-out the holdings to partners, with those partners paying all costs until commercial production is undertaken. This approach allows Manas to retain substantial carried interests, maximizing potential growth while significantly reducing financial costs and risk. An additional element of the strategy is diversification, which further reduces risk.

One area of focus for the company is the exploration and development of giant hydrocarbon assets in the former Soviet Union or its satellites. Although Soviet exploration and development technologies were decades behind those of the West, their record keeping of geological results was excellent. These records indicate the existence of numerous and large un-drilled structures with potential oil. In areas where drilling did occur, such as the

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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 Corp. is an international oil exploration and development company. Founded in 2004, they have their corporate headquarters in Baar, Switzerland. The company spent its first two years acquiring and developing their Kyrgyz Republic, Tajikistan, and Albanian projects. Trading on the OTCBB, the company’s focus is on exploring and developing projects in Southeastern Europe, Central Asia, and South America. Their portfolio currently consists of over five million acres in five countries.

Manas Petroleum has one project in the Kyrgyz Republic of Central Asia. Here, Manas has acquired and farmed-out to Santos International Holdings Pty Ltd. 70 percent of their interest in six licenses, covering 3,152 square kilometers. This 70 percent farm-out is on condition of Santos funding and conducting a $54 million seismic, exploration, and appraisal-drilling program.

Manas also acquired an exploration license in Tajikistan that is adjacent to Manas Tuzluk Prospect within the Kyrgyz Republic license area. This

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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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At Medvedev's meeting with with the presidents of Afghanistan, Pakistan and Tajikistan, he emphasized the importance of energy projects as that which 'really helps governments that need to strengthen their economy'.  Timan Oil has announced that tycoon Vitaly Belik has taken control with a 57% stake.  Vladimir Putin has signed a resolution to expedite the construction of a number of energy plans in the Far East.  Putin has suggested that by 2020 the region may be producing 150 billion cubic meters of gas.  As Putin inaugurates a new gas link to the Pacific, which Bloomberg suggests may damage Exxon Mobil's ambitions in the region, it is expected that the Russian Prime Minister will put pressure on the US giant to sell inexpensive gas from Sakhalin.  Shell has announced mass redundancies.  Russia and South Korea are ...

TODAY: Medvedev pushes for cooperation in Afghanistan, Pakistan and Tajikistan.  Lavrov says no justification for Ukrainian expulsions; mortars rumble in South Ossetia as anniversary tensions brew; Russia puts the no in NATO.  Journalist denied entry to Lithuania. No smokes for soldiers.In his meeting with leaders of Afghanistan, Pakistan and Tajikistan President Medvedev spoke of their 'common space', 'which should be filled with all sorts of projects' emphasizing energy, trade and transport.  Will today's CSTO summit be hindered by differences?  In the capital of South Ossetia two loud explosions have been reported, serving an an early reminder of the imminent anniversary of last year's 5 day war.  South Ossetia apparently intends to demand the ...