Trans Energy, Inc. Closes Sale of Arvilla Oilfield Services

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Direxion Daily 5g Communications Bull 2x Shares	AMEX:TENG	AMEX	Exchange Traded Fund

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Direxion Daily 5g Communications Bull 2x Shares

AMEX:TENG

AMEX

Exchange Traded Fund

	Price Change	% Change	Price	High Price	Low Price	Open Price	Traded	Last Trade
	0.00	0.00%	14.25				0	01:00:00

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Trans Energy, Inc. Closes Sale of Arvilla Oilfield Services

14/04/2006 12:06am

PR Newswire (US)

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ST. MARY, W.Va., April 13 /PRNewswire-FirstCall/ -- Trans Energy, Inc. (OTC:TENG) (BULLETIN BOARD: TENG) said today that it has completed the previously announced sale of Arvilla Oilfield Services, its wholly owned well servicing and maintenance subsidiary, to Arvilla's former owners. In January 2006, Trans Energy signed a definitive agreement for the sale of Arvilla to Clarence E. Smith and Rebecca L. Smith. Under the terms of the transaction, the Company will receive interests in five oil and gas wells located in Tyler County, West Virginia, approximately 500,000 Trans Energy common shares issued to the Clarence and Rebecca Smith, and certain other considerations. Clarence and Rebecca Smith have resigned as members of the Board of Directors of Trans Energy. Details of the transaction will be provided in a Form 8-K filing with the Securities and Exchange Commission. Jim Abcouwer, President and Chief Executive Officer said, "The sale of the Arvilla Oilfield Services business is in line with our strategy to divest operations outside our core business and concentrate on the development of oil and natural gas. We believe we have the greatest opportunity for growth and profitability by leasing acreage, drilling wells, proving new reserves, and owning and operating the pipeline gathering systems that are affiliated with those reserves." You will now see us aggressively pursuing that focused business strategy. 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 of CTC Investor Relations, +1-937-434-2700, for Trans Energy, Inc.

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