Trans Energy Press Release
29 December 2008
ST. MARYS, W.Va.
Trans Energy, Inc. (BULLETIN BOARD: TENG) announced today that its Dewhurst #73 well in Wetzel County, West Virginia was successfully completed on December 16th and connected to a gas sales line on December 20th. The Dewhurst #73 is completed in the Marcellus shale, a prolific new "resource play" in Appalachia, similar to the Barnett, Fayetteville and Haynesville shales which have grown to become a significant base of hydrocarbon reserves in the United States.
The well is continuing to purge 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 third Marcellus well indicates that the positive results from our first two vertical wells, the Hart #20 and Dewhurst #50, can be replicated throughout our acreage position in northern West Virginia. We're now beginning a horizontal well program in yet another significant step forward for Trans Energy to properly develop its acreage position. We're pleased to have achieved this sizeable acreage position centered on the Wetzel-Marion-Marshall-Doddridge Counties area, which looks to be one of the most -- if not the most -- prolific part of the Marcellus resource in Appalachia."
About Trans Energy, Inc.
Trans Energy, Inc. (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 and 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 th e 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.
Trans Energy, Inc.
CONTACT: James K. Abcouwer, CEO of Trans Energy, Inc. +1-304-422-4062
Web site: http://www.transenergyinc.com/
A service of YellowBrix, Inc.