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To: StocksDATsoar who wrote (67236)	10/16/2000 8:57:21 AM
From: Laura E.	Respond to of 150070

MORE NEWS FROM TSRG.... 8:46am NEWS... (BSNS WIRE) $612 Million Domestic Oil & Gas Asset Potential-Trans Energy To $612 Million Domestic Oil & Gas Asset Potential-Trans Energy To Acquire Reserves-Foreign Oil, Mid East Tensions, Low Reserves, High Prices and Harsh U.S. Winter Forecasted Business Editors ST. MARY'S, W.Va.--(BUSINESS WIRE)--Oct. 16, 2000--Trans Energy, Inc. (OTCBB:TSRG) announced today that they have formed Trans Energy Acquisition, Inc. a Nevada Corporation, a wholly owned subsidiary ofTrans Energy, Inc. which is in the process of acquiring major oil and natural gas assets. These aggressive transactions will substantially add to the reserves of the company and to the bottom line. Chairman and CEO Loren Bagley stated, "Management believes that the prices of Oil and natural gas will remain at high levels compared to the prices in most recent years. With high demand exceeding low supplies of both oil and natural gas, it will take the Industry some time to find and drill new prospects, which will bring the energy market and stockpiles back to normal levels. Trans Energy has the expertise, the efficiencies and the potential acquisitions to grow quickly and aggressively". $612 Million Estimated Oil Asset In 1998, Trans Energy purchased over 20,000 acres of oil and natural gas leases in Wyoming's highly productive Powder River Basin (Business Wire, Oct. 11). There have been 15 prospects identified on this acreage, with potential reserves estimated at 17 million barrels of oil. At around $36 per barrel, this represents a significant potential asset of approximately $612 million. TSRG has interests in three producing wells in the "Sage Brush Field", three more producing wells in the "Sand Bar Field", and one producing well in the "Wolf Field", all located within the Powder River Basin. Significant Domestic Natural Gas Wells Estlack#1, Trans Energy's previous gas well is located in West Virginia in the Chemung Section of the Devonian Shale(Business Wire, Sept 13). The Nolan#3 well(Business Wire, Oct 12), has successfully been re-entered and drilled to a depth of 5060 feet through the Benson Sand. TSRG initiated a re-entry into the Nolan#2 well(Business Wire, Oct 13) to drill to a depth of 5100 feet through the Benson Sand. The first two wells were successfully completed and will be turned into the sales line immediately, with the third close behind. These wells are very close to a gas transportation line owned by TSRG, which will enable these wells to be put into production after completion. TSRG owns and operates 100 miles of gas pipeline in W. Virginia, and has the efficiencies and capacity to take physical delivery of product and deliver it directly from the source to the end-user. TSRG has 5,000 acres of land leased in this region. An aggressive growth energy company, TSRG specializes in the transportation and sales of natural gas. TSRG is also involved in energy production, exploration and development. Trans Energy owns and operates an aggregate of over 100 miles of gas transmission lines located throughout West Virginia and has launched a comprehensive business expansion program which includes acquisitions, mergers and joint ventures. This report includes "forward-looking statements" within themeaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Although the company believes that the expectations reflected in the forward-looking statements contained herein are reasonable, no assurances can be given that such expectations will prove to have been correct. Any statements made herein should not be considered guarantees of future positive corporate or stock performance. --30--EW/na* CONTACT: Stock Communications Group, Houston Charles Bingham, 713/297-8886 www.stockcomm.com KEYWORD: WEST VIRGINIA NEVADA WYOMING INDUSTRY KEYWORD: ENERGY OIL/GAS Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com