Trans Energy Begins Drilling First Horizontal Well in Marcellus Shale
04 10월 2008 - 12:35AM
PR Newswire (US)
ST. MARYS, W.Va., Oct. 3 /PRNewswire-FirstCall/ -- Trans Energy,
Inc. (OTC:TENG) (BULLETIN BOARD: TENG) announced today that it has
begun drilling the Anderson #7H well in Wetzel County, West
Virginia. The Anderson #7H will be drilled and completed
horizontally 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 plans to drill the vertical portion of the Anderson #7H
well to a depth above the kick-off point and set casing. A second,
larger rig will follow-on to drill the horizontal portion at a
depth of approximately 7,000 feet. The company's current plan calls
for keeping the rigs drilling continuously through 2009. James K.
Abcouwer, President and CEO of Trans Energy, said, "We have to-date
successfully drilled four vertical Marcellus wells. Beginning a
horizontal program is another significant step forward for Trans
Energy to properly develop its acreage position in northern West
Virginia. Our plans call for a combination of verticals and
horizontals to optimize the recovery. This approach, along with the
construction of our gas gathering pipelines with multiple
interstate pipeline connections, is the heart of our development
plan." 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
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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