After one day break, Manas Petroleum Corporation (OTC:MNAP) got the climb again. Yesterday, the stock gained 10.71%, 
while its traded volume increased approximately 10 times as compared to the day before.
The massive trade must have a reasonable explanation. Namely, the latest news by Manas.
On Monday, the company reported that it has amended its consulting agreement with Undiscovered Equities, Inc. to provide for an orderly wind-down of services from March 1, 2012 until April 29, 2012, on which date the consulting agreement will automatically expire. Though, Undiscovered Equities has agreed to provide transition services on an “as-needed” basis at an hourly rate and only upon Manas’ written request.
The news being reported, the stock price of MNAP jumped up, though in a couple of days the up move was broken. Until yesterday, when it started moving up again just after the next positive announcement.
According to it, yesterday Petromanas Energy Inc. has secured Shell as JV partner for selected Albanian assets. Manas, through its subsidiary DWM Petroleum AG, owns 31.7% of the issued and outstanding shares of Petromanas. Under the terms of the Agreement, Shell will acquire a 50% participating interest in the Blocks in exchange for payments and carried costs up to $50.3 million.
The agreement news has definitely inspired investors and pumped up MNAP. Now, it is interesting how far the up move may go.[BANNER]
Manas Petroleum is an international oil and gas company with primary focus on exploration and development in SE Europe, Central Asia and Mongolia. In December, 2011 and January, 2012, certain members of the company have been acquiring and disposing different amounts of MNAP shares of common stock. Some of the shares were issued in part as compensation for services previously provided to Manas, while the rest were issued to directors of MNAP who hold voting and dispositive control over these shares.
The company’s last 10-Q shows that Manas has a strong cash position. However, there are a number of risk factors listed in the financial report. The management expects that their liquidity is sufficient to implement the business plan for the next 12 months. Though, the revenues keep missing, while the losses are not covered.
Having in mind all these factors, the future of Manas still looks uncertain.
