Trans Energy, Inc.'S Income From Natural Gas Transportation Hits Record High
September 12 2005 - 10:00AM
PR Newswire (US)
ST. MARYS, W.Va., Sept. 12 /PRNewswire-FirstCall/ -- Tyler
Construction Company, Inc., a wholly owned subsidiary of Trans
Energy, Inc. (OTC:TENG) (BULLETIN BOARD: TENG) , announced their
income from natural gas transportation will hit a record high
during the month of September. This represents only one of TENG's
income sources. This gathering and distribution pipeline system
delivers gas to the local markets and is also tied into the major
pipeline systems that deliver gas to the East Coast market. The
pipeline transportation fee earned is based on the current market
price of gas. The September price for natural gas (NG) will be
calculated at a record high of $13.17 per thousand cubic feet
(MCF). This is a one hundred nine percent (109%) increase over the
price of NG September 2004. The volume of NG transported has
increased from 616 MCF per day in September of 2004 to 1,700 MCF
per day currently. This represents a 176% increase in volume
compared to a year ago. The volume increase is due to fourteen (14)
new wells that have been tied into the system in the last ninety
days. Tyler Construction owns the NG gathering and distribution
system in this area and will receive this transportation fee on
these wells as long as they are producing. This one hundred nine
percent (109%) increase in the price of natural gas and the 176%
increase in the volume of gas transported in the system will result
in record high income for the system. TENG is currently negotiating
for six more wells to be added to the system. For more information
go to our web sit: http://www.transenergy.com/ 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 Basin. Further, TENG 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
described in the company's 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: Clarence E. Smith of Trans Energy, Inc., +1-304-665-2652,
Web site: http://www.transenergy.com/
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