Trans Energy Announces Acquisition of Acreage in Kansas and Plans 3-D Seismic Shoot
ST. MARYS, W.Va., Feb. 6 -- Trans Energy, Inc. (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. (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 www.transenergyinc.com.
Source: Trans Energy, Inc.
CONTACT: James K. Abcouwer, President and CEO of Trans Energy, Inc.,
Web site: www.transenergyinc.com/