Manas Petroleum Corp. reported on the drilling progress of its second, deeper exploration well at the Huday Nazar SPC-1 (Soh License) Prospect with Santos International Pty. Ltd. its Australian-based fellow Shareholders of SPC. Drilling activity has reached currently a depth of 1,970m and drilling is going ahead for additional 430m to the target depth of 2,400m. As the drilling program continues, the partners anticipate interesting intervals in subsequent hole sections, where primary objective reservoirs are interpreted to occur between 1,680m and 2,400m below ground level which is total well depth. The Prospect was generated as a result of the processing of seismic shot in a recent 2D seismic program by SPC. The Huday Nazar replaces the previously planned drilling of the smaller and shallower East Chongora Prospect, which is also in the Soh License area. Acquisition of a total of 800 km of 2D seismic within the SPC licenses was completed as of late May, 2009 and seismic processing and interpretation is ongoing as part of a $54 million seismic, appraisal and drilling program undertaken by Santos International Pty. Ltd. Santos has the option to discontinue the program after drilling of the second well. Manas Petroleum has a 20% interest in the fully carried exploration program.

Manas Petroleum Corp. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2009. For the three months period, the company had a net loss of CAD 16,716,121 or CAD 0.14 per basic and diluted share as compared to a net loss of CAD 3,992,796 or CAD 0.04 per basic and diluted share for the comparable period ended June 30, 2008. 83% of the net loss, or CAD 13,902,391, for the three months period ended June 30, 2009 is related to the non-cash charge for a change of the fair value of warrants. Operating loss was CAD 2,532,722 compared to CAD 3,900,268 for the same period a year ago. Loss before taxes and equity in net loss of associate was CAD 16,714,639 against CAD 3,992,956 for the same period a year ago. For the six months period, the company had a net loss of CAD 18,925,760 or CAD 0.16 per basic and diluted share as compared to a net loss of CAD 9,892,116 or CAD 0.09 per basic and diluted share for the comparable period ended June 30, 2008. 73% of the net loss, or CAD 13,902,391, for the six months period ended June 30, 2009 is related to the non-cash charge for a change of the fair value of warrants. Operating loss was CAD 5,043,161 compared to CAD 9,907,155 for the same period a year ago. Loss before taxes and equity in net loss of associate was CAD 18,923,824 against CAD 9,891,339 for the same period a year ago. Net cash outflow from operating activities of CAD 3,579,816 has decreased from CAD 4,479,574 in the comparable period 2008. This is mainly due to management's decision to cut down costs from beginning of 2009. As a consequence, the number of employees and the administrative costs has been reduced. Additionally, during the first two quarters of 2008, the company had extensive exploration activities in Albania and Tajikistan. Net cash inflow from investing activities of CAD 4,976,899 for the six months ended June 30, 2009 has changed from a net cash outflow of CAD 6,270,064 in the comparable period for 2008. This is due to the establishment of the bank guarantee for the first exploration phase in Albania in the second quarter of 2008. The reduction of the bank guarantee in Albania and the reduction of the amount on the escrow agreement in Mongolia during the six months period ended June 30, 2009 have positively affected cash flow from investing activities by CAD 5,000,939. Purchase of tangible fixed assets and computer software was CAD 24,040 against CAD 90,064 for the same period a year ago.

Manas Petroleum Corp. reported that the drilling of the second exploration well at the Huday Nazar SPC-1 (Soh license) prospect by the Kyrgyz joint venture, SPC (South Petroleum Company) is underway. Huday Nazar SPC-1 is to test tertiary-aged (Palaeogene) clastics and carbonate reservoirs between 1680 and 1835m below ground level. Projected total depth of this well is 2400m below ground level and it is expected to take 30 to 40 days to drill. Should drilling be sufficiently encouraging, testing and completion of the wells would be made following the drilling. The offset analogue field to the Huday Nazar SPC-1 prospect is the North Soh oil and gas field (13 MMBO & 140 BCF) which is approximately 20 km to the West. The P50 mapped closure on the Huday Nazar SPC-1 prospect is 5.0 square km while the net thickness of the targeted reservoirs (using the productive limestone and sandstone strata from analogue fields) is estimated to be 20 meters with 14% porosity in the P50 scenario.