Trans Energy Completes Second Well in Marcellus Shale
11 Agosto 2008 - 8:35AM
PR Newswire (US)
ST. MARYS, W.Va., Aug. 11 /PRNewswire-FirstCall/ -- Trans Energy,
Inc. (OTC:TENG) (BULLETIN BOARD: TENG) announced today that its
Dewhurst #50 well in Wetzel County, West Virginia was successfully
completed on July 17 and connected to a gas sales line on July 22.
The Dewhurst #50 is completed in the Marcellus shale, a prolific
new "resource play" in Appalachia, similar to the Barnett Shale
which has grown to become a significant base of hydrocarbon
reserves in Texas. The Company continues to be encouraged by the
initial production and continues to develop a better understanding
of the play's technical aspects. The well is purging water used in
the frac process, and is producing gas at a volume and working
pressure that indicates this development area may be among the most
attractive parts of this new and substantial shale play. James K.
Abcouwer, President and CEO of Trans Energy, said, "This second
Marcellus well indicates that the positive results from our first
well, the Hart #20, can be replicated throughout our acreage
position in northern West Virginia. We are pleased to have achieved
a sizeable acreage position centered on the Wetzel-Marion-Doddridge
Counties area, which looks to be the heart of the most attractive
Marcellus resource in Appalachia." 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 for the fiscal year
ended December 31, 2007 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, CEO of Trans Energy, Inc.,
+1-304-422-4062 Web site: http://www.transenergyinc.com/
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