Trans Energy Begins Drilling Second Horizontal Well in Marcellus Shale
29 10월 2008 - 12:35AM
PR Newswire (US)
ST. MARYS, W.Va., Oct. 28 /PRNewswire-FirstCall/ -- Trans Energy,
Inc. (OTC:TENG) (BULLETIN BOARD: TENG) announced today that it has
begun drilling the Hart #28H well in Wetzel County, West Virginia.
The Hart #28H will be drilled and completed horizontally 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 Company plans to drill the vertical portion
of the Hart #28H 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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