Trans Energy Completes First Horizontal Well in Marcellus Shale
16 April 2009 - 1:01AM
PR Newswire (US)
ST. MARYS, W.Va., April 15 /PRNewswire-FirstCall/ -- Trans Energy,
Inc. (OTC:TENG) (BULLETIN BOARD: TENG) announced today that it has
completed its Hart #28H well in Wetzel County, West Virginia. The
Hart #28H was drilled and completed horizontally in the Marcellus
shale, a prolific new "resource play" in Appalachia, similar to the
Barnett, Fayetteville and Haynesville shales in Texas, Arkansas and
Louisiana. The well is purging water used in the frac process and
was turned in to a gas sales line last Friday. The Company
indicated that the well's volume and working pressure confirm that
this development area is among the most attractive parts of this
substantial shale play. James K. Abcouwer, President and CEO of
Trans Energy, said, "Completing this first horizontal well is a
significant step in our process to become one of the leading
natural gas producers in the eastern region. We intend to repeat
this success throughout our expanding acreage position. Our next
horizontal Marcellus well, the Anderson #7H is already started,
with the surface and intermediate strings cased and cemented." The
Company continues to expand its acreage position centered on the
Wetzel, Marion, Marshall, and Doddridge Counties area, which it
believes to be the heart of the most prolific natural gas resource
in Appalachia, and possibly the United States. 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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