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Penny Stock

by Rick

It’s been almost two months since we’ve mentioned Manas Petroleum (MNAP) We first featured the company a while back. There hasn’t been any news released during that time, so to be quite frank, our attention has been diverted to just watching shares of Manas make new highs everyday. The stock closed Monday at $5.50 per share after reaching an all time high of $5.67 earlier in trading day. That puts up over 50% from when we profiled the company at $3.65 per share.

If readers will recall, we highlighted the explosion of Russian wealth obtained by acquiring state oil and gas assets very cheaply (or even for free) during the privatization process during Boris Yeltsin government. This blue print to making vast fortunes in the energy sector was not lost on people of influence in other states of the former Soviet Union.

Manas Petroleum has quickly established itself in Kyrgyzstan by obtaining six exploration licenses covering 3,152 square kilometers. Santos Oil a $5.5 billion dollar Australian company will be spending $60 million dollars on an exploration and development program on these properties. When a company the size of Manas beats out the major oil companies for a property, there doesn’t need much explanation if you read our before mentioned edition.

Buy small cap, sell Amazon is the way to go!
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Posted in General on June 26th, 2007

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