Manas Petroleum Corp. moves to an independent management structure / Manas Petroleum Corp. (MNAP.OB)

Baar, Switzerland (ots) - Manas Petroleum Corporation moves to an
independent management structure in order to enhance corporate
governance. Manas is pleased to announce the appointment of Thomas
Flottmann, PhD, as Chief Executive Officer and Rahul Sen Gupta, CFA
as Chief Financial Officer. The former CEO, Alexander Becker PhD, and
CFO, Peter-Mark Vogel CFA have been appointed Director, New Ventures
and Director, Finance. Mr. Becker and Mr. Vogel will continue to play
an active role in the company to increase the value of the company by
acquiring new projects and negotiating with potential partners and
financial institutions.

The addition of Mr. Flottmann and Mr. Sen Gupta compliments Manas
Petroleum's already exceptional management resources. Mr. Thomas
Flottmann, recent senior geologist of Santos, completed his PhD in
conjunction with West Germany's continental deep drilling program. He
held several post-doctoral positions in Australia focussing on the
analysis of fold-thrust belts and their hydrocarbon and mineral
prospectivity. Mr. Flottmann was the principal structural advisor to
CRA (now RioTinto) from 1994-1997 working on oil and gas as well as
mineral exploration. Most recently Mr. Flottmann was a senior staff
geoscientist and specialist advisor across all business units to
Santos. He has worked in oil and gas exploration and development in
Australia, Egypt, Central Asia, Indonesia, East Timor, Papua New
Guinea, Gulf of Mexico and in Iran where he led a team evaluating the
remaining prospectivity in parts of the prolific Dezful Embayment.

A significant part of his work has focussed on the
characterisation of fractured and fracture-enhanced gas and oil
reservoirs similar to those which occur in oil field's to the south
of the company's giant Albanian prospects. Thomas has introduced key
structural based reservoir modelling workflows integrating regional
tectonic characterisation, analogue modelling, image log and core
description as well as strain and in situ stress characterisation and
their impact on reservoir performance. Mr. Flottmann has authored
over 30 publications, has presented widely at national and
international conferences. He also took part in two research
expeditions to Antarctica and has led geological field teams in
Australia, Iran and Central Asia. Memberships: PESA, AAPG, Intl
Association of Structural Geologists.

Mr. Sen Gupta, recent Managing Director of Bank Sal. Oppenheim,
completed his Masters of Economics majoring in finance and political
economics in 1997 at the University of Zurich, Switzerland after
studying Computer Engineering at the Swiss Federal Institute of
Technology (ETH), Switzerland. Mr. Sen Gupta is also a Charted
Financial Analyst (CFA). Most recently Mr. Sen Gupta was a Managing
Director at Bank Sal Oppenheim where he was in charge of the Swiss
Equity Research Team and was the deputy head of Bank Sal. Oppenheim`s
global equity research team. He was further a member of the Global
Equity Management Committee of Sal. Oppenheim Group. Mr. Sen Gupta
has a strong background in finance and investment banking which he
gained through working at various well-known investment houses such
as Credit Agricole Indosuez Cheuvreux and Bank Julius Bär & Co.
Before joining the equity side, Mr Sen Gupta was working in the
derivatives field, responsible for constructing, pricing and partly
hedging/trading options. He started his career at the SWX Swiss Stock
Exchange in the trading pit in 1994. In 2003, Mr. Sen Gupta was rated
8th best Swiss analyst out of 150 analysts (2003 Stocks Awards) and
in 2001 he was top 10 rated European analyst for Leisure and Tourism
(Reuters Temptest).

Manas Petroleum's board would like to express its appreciation to
Mr. Alex Becker and Mr. Peter-Mark Vogel for their vision and
dedication during the past four years and point out that their
efforts were an essential component to the company's success in
assembling its portfolio of giant exploration assets.

This Press Release contains certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of
1995. The Company has tried, whenever possible, to identify these
forward-looking statements using words such as "anticipates",
"believes", "estimates", "expects", "plans", "intends", "potential"
and similar expressions. These statements reflect the Company's
current beliefs and are based upon information currently available to
it. Accordingly, such forward looking statements involve known and
unknown risks, uncertainties and other factors which could cause the
Company's actual results, performance or achievements to differ
materially from those expressed in or implied by such statements. The
Company undertakes no obligation to update or advise in the event of
any change, addition or alteration to the information catered in this
Press Release including such forward looking statements.

Originaltext: Manas Petroleum Corporation
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