Marcellus Shale: Trans Energy TENG Competes Third Well

Trans Energy ( TENG ) came out yesterday, 12/29/08, and announced it has completed its third Marcellus Shale well.

Trans Energy, Inc. (OTC Bulletin Board: TENG) announced today that its Dewhurst #73 well in Wetzel County, West Virginia was successfully completed on December 16th and connected to a gas sales line on December 20th. The Dewhurst #73 is completed in the Marcellus shale, a prolific new "resource play" in Appalachia, similar to the Barnett, Fayetteville and Haynesville shales which have grown to become a significant base of hydrocarbon reserves in the United States.
The well is continuing to purge water used in the frac process, and is producing gas at a volume and working pressure that indicates this development area may be among the most attractive parts of this new and substantial shale play.
James K. Abcouwer, President and CEO of Trans Energy, said, "This third Marcellus well indicates that the positive results from our first two vertical wells, the Hart #20 and Dewhurst #50, can be replicated throughout our acreage position in northern West Virginia. We're now beginning a horizontal well program in yet another significant step forward for Trans Energy to properly develop its acreage position. We're pleased to have achieved this sizeable acreage position centered on the Wetzel-Marion-Marshall-Doddridge Counties area, which looks to be one of the most -- if not the most -- prolific part of the Marcellus resource in Appalachia."

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