Trans Energy, Inc. Announces Six (6) New Wells to be Added to Their Transportation System
16 Septiembre 2005 - 12:44PM
PR Newswire (US)
ST. MARYS, W.Va., Sept. 16 /PRNewswire-FirstCall/ -- Based upon the
success of the last fourteen (14) wells drilled in Tyler County
West Virginia and tied into Tyler Construction Company's (a wholly
owned subsidiary of Trans Energy, Inc. (OTC:TENG) (BULLETIN BOARD:
TENG) transportation system, an additional six (6) wells will be
drilled commencing September 26, 2005. Management estimates that if
these six (6) wells are successfully drilled, completed and put on
line, this will increase gas volumes by approximately twenty (20%)
percent in our transportation system. Management believes these
wells will go into production immediately after being successfully
completed. The gas price for the month of September on inside
FERC-DTI is $13.17 per MCF. Most analysts are predicting gas prices
to remain high for the immediate future. Disruptions to the market
have occurred as a result of Hurricane Katrina. This coupled with
high demand creates a strong market for natural gas. Trans Energy,
Inc., an aggressive growth energy company (TENG), specializes in
the exploration, completion, drilling and production of oil and
natural gas in the Appalachian and Powder River Basins. Further,
TENG is actively involved in the transmission, transportation and
sales of oil and natural gas. This press release contains
forward-looking information that may be affected by certain risks
and uncertainties described in the company's filing with the
Securities and Exchange Commission. The company's actual results
could differ materially from such forward-looking statements. We
assume no duty to update these statements at any future date.
DATASOURCE: Trans Energy, Inc. CONTACT: Clarence E. Smith of Trans
Energy, Inc., +1-304-665-2652, or Web site:
http://www.transenergy.com/
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