TENG is up .25 to 1.70 on mod rel vol of 34,000....see yest post below...i like this one going forward as it is unknown, unloved and they both produce fossil fuels AND transport them.....
TENG....1.42/1.59...this one has not rec'd much attn yet but i think this could be an attractive play-one of its better aspects is only 4.82m shares out, no pref. They have cash and strong accts receivables but they also have debt as many of these junior oils borrow to build...SE swung to a positive $731,000 from a neg $1.1m last year....what i really like is that they are both a producer and a transporter...see below--
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Trans Energy, Inc. Announces Six (6) New Wells to be Added to Their Transportation System
Friday September 16, 12:44 pm ET
ST. MARYS, W.Va., Sept. 16 /PRNewswire-FirstCall/ -- Based upon the success of the last fourteen (14) wells drilled in Tyler County West Virginia and tied into Tyler Construction Company's (a wholly owned subsidiary of Trans Energy, Inc. (OTC Bulletin Board: TENG - News) transportation system, an additional six (6) wells will be drilled commencing September 26, 2005. Management estimates that if these six (6) wells are successfully drilled, completed and put on line, this will increase gas volumes by approximately twenty (20%) percent in our transportation system. Management believes these wells will go into production immediately after being successfully completed. The gas price for the month of September on inside FERC-DTI is $13.17 per MCF. Most analysts are predicting gas prices to remain high for the immediate future. Disruptions to the market have occurred as a result of Hurricane Katrina. This coupled with high demand creates a strong market for natural gas.
Trans Energy, Inc., an aggressive growth energy company (TENG), specializes in the exploration, completion, drilling and production of oil and natural gas in the Appalachian and Powder River Basins. Further, TENG is actively involved in the transmission, transportation and sales of oil and natural gas.
Source: Trans Energy, Inc.
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Their wholly owned Tyler Construction is hitting record volumes of gas transportation:
biz.yahoo.com
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And they are adding to their reserves:
biz.yahoo.com
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Lastly look at the progression on the top line here....they are rapidly gaining traction and all of the above will only add to that momentum-
TENG.ob'>http://finance.yahoo.com/q/is?s=TENG.ob
With such a small number of shares outstanding and given the way they are growing both as a producer and transporter i think the price here is attractive. They also have a big fat NOL to protect profits going forward. Do your own dd...my opinion only above.... |
