ST. MARYS, W.Va., June 4 /PRNewswire-FirstCall/ -- Trans Energy, Inc. (OTC Bulletin Board: TENG) announced today that it turned into a sales line it's Whipkey #2H horizontal Marcellus well in Marshall County, West Virginia on Friday, May 21st.
The Whipkey #2H with a horizontal lateral of almost 4,000 feet was completed with a 16 stage frac. The Company believes that the well's natural gas volumes and working pressure confirm that this development area is among the most attractive parts of this substantial shale play.
James K. Abcouwer, President and CEO of Trans Energy, said, "We were successful in fracing the Whipkey #2H according to our 16-stage plan. Although it has only been turned into sales for only a little more than a week, we are very encouraged with the initial results. This is a longer lateral and proves up more reserves than our first horizontal. We see it as another significant step forward for Trans Energy to properly develop its acreage position in northern West Virginia."
The Company is currently fracing its third horizontal, the Whipkey #1H Marcellus well, located on the same pad site and anticipates turning this well into sales around June 10th.The Company has put on its homepage at www.transenergyinc.com a video clip of the flare from the Whipkey #2H before it was turned into sales along with various pictures. The Company continues to expand its acreage position centered on Wetzel, Marion, and Marshall Counties in West Virginia, which is in the heart of the most prolific natural gas resource in Appalachia, and one of the greatest in the United States. About Trans Energy, Inc. Trans Energy, Inc. (OTC 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. 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, 2010 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. SOURCE Trans Energy, Inc.