ST. MARYS, W.Va., Dec. 12 /PRNewswire-FirstCall/ -- Trans Energy, Inc. (OTC:TENG) (BULLETIN BOARD: TENG) announced today that it has closed on a $3,000,000 line of credit to be utilized for its work-over program on its 12,000 acre Smithfield/Wallace field in Wetzel County, West Virginia. The Smithfield/Wallace field consists of approximately 102 existing wells. As part of its work-over program the Company has engaged a third party service rig on a full time basis and with the initial success of the work-over program the Company decided that a larger work-over program should be designed and executed including adding a second third party service rig. The work-over program consists of moving a service rig on each of the existing wells, running a series of tests and evaluating whether or not a pumping unit should be installed to lift the fluids out of the well to increase both the natural gas and oil production. Huntington National Bank of Morgantown, WV. provided the line of credit and is contingent upon the Company maintaining certain covenants and terms and conditions and is secured by the all of the Company's interests in the Smithfield/Wallace field. James K. Abcouwer, President and CEO of Trans Energy, said the work-over program reflects the Company's commitment and focus in oil and natural gas exploration and development in the Appalachian Basin. "This work-over program will be our main focus of capital spending over the next few months. The work-over program of the Smithfield/Wallace field will provide additional revenues for the Company and this acreage fits strategically with our future exploration plans. The existing shallow producing wells produce cash flow and hold the leases for us going forward. This acreage has deeper unexploited zones of oil and natural gas that we will develop over the next several years. With the initial results from our just started work-over program we determined that a larger capital investment was needed and we are pleased to have this financing in place to complete this project." About Trans Energy, Inc. Trans Energy, Inc. (OTC:TENG) (BULLETIN BOARD: TENG) is an oil and gas exploration and development company in the Appalachian Basin. Further information can be found on the Company's website at http://www.transenergyinc.com/. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Forward-looking statements in this release do not constitute guarantees of future performance. Such forward-looking statements are subject to risks and uncertainties that could cause our actual results to differ materially from those anticipated. Forward-looking statements in this document include statements regarding the Company's exploration, drilling and development plans, the Company's expectations regarding the timing and success of such programs. Factors that could cause or contribute to such differences include, but are not limited to, fluctuations in the prices of oil and gas, uncertainties inherent in estimating quantities of oil and gas reserves and projecting future rates of production and timing of development activities, competition, operating risks, acquisition risks, liquidity and capital requirements, the effects of governmental regulation, adverse changes in the market for the Company's oil and gas production, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. For a more detailed discussion of the risks and uncertainties of our business, please refer to our Annual Report on Form 10-K and our amended Annual Report on Form 10-K/A for the fiscal year ended December 31, 2005 filed with the Securities and Exchange Commission. We assume no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein. DATASOURCE: Trans Energy, Inc. CONTACT: James K. Abcouwer, President and CEO of Trans Energy, Inc., +1-304-422-4062 Web site: http://www.transenergyinc.com/

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