Trans Energy Announces Acquisition of Acreage in Kansas and Plans 3-D Seismic Shoot
February 06 2007 - 8:05AM
PR Newswire (US)
ST. MARYS, W.Va., Feb. 6 /PRNewswire-FirstCall/ -- Trans Energy,
Inc. (OTC:TENG) (BULLETIN BOARD: TENG) announced today that it has
acquired a 75% interest in 3,120 acres of oil and gas leases
located in Trego County, Kansas. Permitting for the 3-D seismic
shoot is currently underway and completion of the physical shoot is
expected to be done by end of the first quarter of 2007 followed by
the analysis and interpretation in the second quarter which will
determine the number of potential drilling locations. James K.
Abcouwer, President and CEO of Trans Energy, said the acquisition
of the Kansas acreage is opportunistic in nature and not a shift in
the Company's commitment and focus in oil and natural gas
exploration and development in the Appalachian Basin. "The Kansas
acreage presented itself to us from a long standing relationship of
the Company and provided an opportunity for Trans Energy to
participate in a proven oil producing area coupled with state of
the art 3-D seismic useful in identifying sub surface features that
cannot be identified by any other method. Once the results of the
3-D seismic are complete, we will decide whether to go forward with
a developmental drilling program or divest all or part of our
interest." 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/
Copyright