Trans Energy, Inc. Acquisition Update ST. MARYS, W. Va., May 16 /PRNewswire-FirstCall/ -- During the past six months, Trans Energy, Inc. (OTC:TENG) (BULLETIN BOARD: TENG) has conducted two major acquisitions, which have resulted in a need to review and update its business plan. In November 2004, Trans Energy acquired Cobham Gas Industries, a longtime operator with approximately 15,000 leased acres of oil and natural gas and 229 wells. In January 2005, Trans Energy acquired Arvilla Oilfield Services, a well service, workover and related transportation business operating in several states. Public filings (Form 8K) with the Securities Exchange Commission in connection with these acquisitions are both past due. The main reason for the delay is the difficulty in preparing the required "as if" historical financial statements for businesses that were either consolidated with much larger entities, as in the case of Arvilla Oilfield, or not previously audited, as in the case of Cobham Gas Industries. The management of Trans Energy believes the most important things to do now is to complete Trans Energy's financial reporting requirements and bring them current to work on improving its revenues by continuing to bring more oil and gas to market from the Cobham wells and to continue and expand the good work begun by Arvilla Oilfield Services. 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 Basin. 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 statement. DATASOURCE: Trans Energy, Inc. CONTACT: Loren E. Bagley of Trans Energy, Inc., +1-304-684-7053

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