Trans Energy Announces Increased Production from Lyon Lease
11 Janvier 2006 - 2:00PM
PR Newswire (US)
ST. MARYS, W.Va., Jan. 11 /PRNewswire-FirstCall/ -- Trans Energy
Inc. announced today that a well it recently completed in Doddridge
County, WV, is producing approximately 100,000 cubic feet per day
of natural gas. Trans Energy said the new well, Lyon #2, is within
its Lyon lease holdings in Doddridge County, and was drilled to
3,150 feet with two production zones. It is adjacent to the
existing 100-year-old Lyon #1, still producing 50,000 cubic feet
per day. Trans Energy owns the lease and all of the working
interest in both wells, whose output is currently generating
approximately $45,000 per month in revenue to Trans Energy. The
Company said that it has surveyed three additional potential drill
sites within the Lyon property. One of those is expected to be
drilled in the spring. If the first is successful, the Company
intends to drill the other two immediately thereafter. James K.
Abcouwer, president and CEO of Trans Energy, said the stepped-up
drilling and production activity reflects the company's commitment
to oil and natural gas exploration and production, principally
within its Appalachian Basin territories. "This Lyon's well is an
example of how we will be focusing our efforts on high-potential
properties to increase cash flow. That cash flow will enable us to
increase leasehold positions in targeted development areas,"
Abcouwer said. "We will move as quickly as possible, both
independently and with strategic partners, to increase our energy
exploration, development and production programs." Trans Energy,
Inc. (OTC:TENG) (BULLETIN BOARD: TENG) specializes in the
exploration, completion, drilling and production of oil and natural
gas in the Appalachian and Powder River Basins. Further, the
company 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, including those risks and uncertainties
described in the company's most recent Form 10-KSB filing with the
Securities and Exchange Commission. The company's actual results
could differ materially from such forward-looking statements. We
assume no duty to update these statements at any future date.
DATASOURCE: Trans Energy, Inc. CONTACT: Bill Roberts, or Wayne
Buckhout of CTC Investor Relations, +1-937-434-2700, for Trans
Energy, Inc.
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