Trans Energy Announces Completion of Three New Lyon Lease Wells

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Trans Energy Announces Completion of Three New Lyon Lease Wells

12/07/2006 3:15pm

PR Newswire (US)

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ST. MARYS, W.Va., July 12 /PRNewswire-FirstCall/ -- Trans Energy, Inc. announced today that it has completed drilling three new wells in Doddridge County, WV, and that initial production levels are encouraging. Trans Energy said the new wells, Lyon #3, #4 and #6, are within its 700- acre lease holdings in Doddridge County. Trans Energy owns the lease and all of the working interest in the lease where it operates two existing wells, #1 and #2. Currently, Lyon #3 is in production, generating approximately 140,000 cubic feet per day of natural gas from the various sands formation. Lyon #6 is expected to go into production next week, and #4 shortly thereafter. Lyon #2 was drilled to 3,150 feet with two production zones late last year. It is adjacent to the existing 100-year-old Lyon #1, still producing 50,000 cubic feet per day. 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 Basin. 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 at CTC Investor Relations, +1-937-434-2700, for Trans Energy, Inc.

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