Manas Petroleum Corp. says that on December 31, 2012 its wholly-owned subsidiary, DWM Petroleum AG (DWM), entered into a Share Purchase Agreement (SPA) with an unrelated third party (Seller), whereby DWM will acquire, for cash, an 80% stake in a Swiss company, which at the time of the completion of this transaction will indirectly own 100% interests in certain mature producing assets in the Republic of Tajikistan which will be rehabilitated and redeveloped.

The transaction is subject to Tajik government and stock exchange approvals and is expected to close before the end of April 2013.

"We believe that signing this SPA and entering into this rehabilitation and redevelopment project is a major step in the transformation of Manas from a pure exploration company to an exploration and production company," said Dr. Werner Ladwein , President of Manas.

Tags: Manas Petroleum