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Disturbing news for tsrg guys.... A repost from an e-mail I received today by dragon52.
2desire
SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 17159 / September 28, 2001
SEC v. TRANS ENERGY, INC., LOREN E. BAGLEY, AND WILLIAM F. WOODBURN, U.S. District Court for the District of Columbia, Civil Action No. 1:01CV02060
The Securities and Exchange Commission (Commission) announced today that it filed a federal civil action against Trans Energy, Inc. (Trans Energy), Loren E. Bagley (Bagley), its president, and William F. Woodburn (Woodburn), its vice president and principal financial officer, charging violations of the anti-fraud and reporting provisions of the federal securities laws. Trans Energy is an oil and natural gas exploration and distribution company based in West Virginia whose stock is quoted on the OTC Bulletin Board under the symbol TSRG.
The Complaint alleges that from 1998 through 2000, Trans Energy, at the direction of Bagley and Woodburn, disseminated a number of false and misleading statements to the investing public through press releases, wesbite postings, and Commission filings. Specifically, Trans Energy issued press releases in October 2000 touting a supposed $612 million worth of oil reserves. The Complaint alleges that Trans Energy had no reasonable basis to value the potential reserves at that amount, and that the gross overvaluation caused Trans Energy's stock price to reach a six-month high. The Complaint further alleges that in a November 2000 posting on its website, Trans Energy inaccurately minimized the significance of the "going concern statement" included in its most recent filing with the Commission at a time when Trans Energy's ability to continue as a going concern was greatly in doubt. Additionally, the Commission claims that in a December 2000 press release about its Chapter 7 bankruptcy, Trans Energy misled the investing public by failing to disclose that the bankruptcy arose from Trans Energy's inability to pay a $600,665.36 consent judgment entered earlier that year, and that a Chapter 7 trustee had been appointed. Finally, the Complaint alleges that Trans Energy's Commission filings from 1998 through 2000 misrepresented the status of, or failed to disclose the existence of, material lawsuits that resulted in over $1 million in consent judgments against the company. The Complaint alleges that Bagley and Woodburn, as Trans Energy's only officers, knew or were reckless in not knowing that the above statements were false and misleading.
The Commission seeks a judgment against Trans Energy enjoining it from future violations of Sections 10(b) and 13(a) of the Securities Exchange Act of 1934 (Exchange Act) and Rules 10b-5, 12b-20, 13a-1, and 13a-13 thereunder. Further, the Commission seeks a judgment against Bagley and Woodburn enjoining them from future violations of Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, from aiding and abetting future violations of Section 13(a) of the Exchange Act and Rules 12b-20, 13a-1, and 13a-13 thereunder, and assessing civil penalties against them.
http://www.sec.gov/litigation/litreleases/lr17159.htm
This is very disturbing. Anyone that still has shares watch for the bottom to fall out tomorrow a.m. Sorry that people lost money on this. Including myself, as I sold for a loss a couple of months ago to pursue another Oil & Gas that had more going for it.
SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 17159 / September 28, 2001
SEC v. TRANS ENERGY, INC., LOREN E. BAGLEY, AND WILLIAM F. WOODBURN, U.S. District Court for the District of Columbia, Civil Action No. 1:01CV02060
The Securities and Exchange Commission (Commission) announced today that it filed a federal civil action against Trans Energy, Inc. (Trans Energy), Loren E. Bagley (Bagley), its president, and William F. Woodburn (Woodburn), its vice president and principal financial officer, charging violations of the anti-fraud and reporting provisions of the federal securities laws. Trans Energy is an oil and natural gas exploration and distribution company based in West Virginia whose stock is quoted on the OTC Bulletin Board under the symbol TSRG.
The Complaint alleges that from 1998 through 2000, Trans Energy, at the direction of Bagley and Woodburn, disseminated a number of false and misleading statements to the investing public through press releases, wesbite postings, and Commission filings. Specifically, Trans Energy issued press releases in October 2000 touting a supposed $612 million worth of oil reserves. The Complaint alleges that Trans Energy had no reasonable basis to value the potential reserves at that amount, and that the gross overvaluation caused Trans Energy's stock price to reach a six-month high. The Complaint further alleges that in a November 2000 posting on its website, Trans Energy inaccurately minimized the significance of the "going concern statement" included in its most recent filing with the Commission at a time when Trans Energy's ability to continue as a going concern was greatly in doubt. Additionally, the Commission claims that in a December 2000 press release about its Chapter 7 bankruptcy, Trans Energy misled the investing public by failing to disclose that the bankruptcy arose from Trans Energy's inability to pay a $600,665.36 consent judgment entered earlier that year, and that a Chapter 7 trustee had been appointed. Finally, the Complaint alleges that Trans Energy's Commission filings from 1998 through 2000 misrepresented the status of, or failed to disclose the existence of, material lawsuits that resulted in over $1 million in consent judgments against the company. The Complaint alleges that Bagley and Woodburn, as Trans Energy's only officers, knew or were reckless in not knowing that the above statements were false and misleading.
The Commission seeks a judgment against Trans Energy enjoining it from future violations of Sections 10(b) and 13(a) of the Securities Exchange Act of 1934 (Exchange Act) and Rules 10b-5, 12b-20, 13a-1, and 13a-13 thereunder. Further, the Commission seeks a judgment against Bagley and Woodburn enjoining them from future violations of Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, from aiding and abetting future violations of Section 13(a) of the Exchange Act and Rules 12b-20, 13a-1, and 13a-13 thereunder, and assessing civil penalties against them.
http://www.sec.gov/litigation/litreleases/lr17159.htm
That was beautiful, Arch. eom.
2desire
Trans Energy, Inc. Announces New President and Chief Executive Officer
MONDAY, SEPTEMBER 10, 2001 10:47 AM
- PRNewswire
ST. MARYS, W.Va., Sep 10, 2001 /PRNewswire via COMTEX/ -- Trans Energy, Inc. (OTC:TSRG) today announced the election of Robert L. Richards to be the president, chief executive officer, and director of TSRG. Loren E. Bagley has resigned his position as chief executive officer and president, effective immediately. In addition, William F. Woodburn has also resigned as vice president of TSRG and Loren E. Bagley will become a vice president of TSRG.
Mr. Richards is a degreed geologist and a 1969 graduate of Brigham Young University. Mr. Richards has previously worked with Exxon, United Texas Petroleum/Allied Chemical as an exploration and production geologist before cofounding his own company in 1992. At its peak, Kaire International grossed in excess of $56,000,000 in nutritional supplements.
Says Bagley, "This is exactly what this company needs to get to the next level. I've known Bob Richards well for many years. He's bright, aggressive and motivated. He brings with him a wealth of geological knowledge and expertise."
Mr. Richards, a former pilot in the United States Air Force, as well as a National Champion and a member of two U.S.A. Olympic training teams in track and field stated, "I am extremely excited about this unique and golden opportunity to lead Trans Energy into the new millennium. We are well positioned to dramatically turn this company around. Natural gas is the fuel of the future. Trans Energy has acquired oil and gas leases, gas pipelines and joint venture agreements which will allow us to `seize the day'. Trans Energy is at the right time and right place where demand for natural gas is greater than supply and I believe that this will remain the situation for years to come. I am looking forward to the challenges of bolstering investor confidence and increasing shareholder value. This is one of the few times in one's life where so many positive situations come together."
Trans Energy, Inc., headquartered in St. Marys, West Virginia is an independent oil and gas exploration and development company with principal operations in West Virginia.
This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this release may constitute forward looking statements. Although the company believes that the expectations reflected in such forward looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from the company's expectations due to changes in operating performance, project schedules, oil and gas demands and prices and other technical and economic factors.
MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X23526146
SOURCE Trans Energy, Inc.
CONTACT: Trans Energy, Inc., +1-304-684-7053
(TSRG)
Thanks Dr. Crovatt! Muelhead said it was rumored that some big pharmaceutical company is going to buy them out. Guess we'll have to dig a little deeper.
2desire
Muelhead,
Found out about a stock that is moving on very little volume, but having hard time gathering dd on it. Take a look at the stats today when you have time. Low .04 and High .30. Closed at .15. Here is the link to the latest news release in Jan of this year.
http://bigcharts.marketwatch.com/news/articles.asp?newsid=756350558&orig=symbol&time=&sy...
e-mail me when you have time. I'm going to try looking on other sites. Thanks.
2desire
symbol: USNU
Hi all, Just got word from a friend that USNU moved today on very little volume and the float is gone. May want to check it out. I'll be gathering dd from where I can. Kudos!
KyGal63
Fairchild International Acquires Additional Interest In Coalinga Nose Gas Project
FRCD up .06 for the day.
VANCOUVER, British Columbia, Aug. 24 /PRNewswire/ -- Fairchild International Corporation (OTC Bulletin Board: FRCD) is pleased to announce that further to our agreement with Brothers Oil and Gas and Dasher Energy Corp. we have concluded negotiations and formalized the purchase of an additional 1.85% net revenue interest (NRI) before payout and 1.40625% NRI after payout for a one time single payment of $50,000. This along with our previous interest in the Coalinga Nose project Block A will, in aggregate, give Fairchild a 5% working interest (WI) and a 3.7% NRI. After payout Fairchild will have a 3.75% WI and a 2.8125% NRI. In addition, the NRI in Block B is increased to 1.875%. Management is excited about this additional purchase as it effectively doubles Fairchild's exposure to this important developing gas project.
To date, $3-million (U.S.) has been spent on the land including a 3-D seismic survey shot in 1997 covering 16 square miles including the prospect area. According to consulting engineer, Mark Anderson, this is a "superior prospect based on a quality modern 3-D seismic grid, abundant and thoroughly mapped well control," and "both production and down dip shows in the target horizon." The 3-D seismic data "clearly corroborates existing production from known stratigraphic and structural features," from the Cretaceous Brown Mt. Formation which is largely untested in this area. Only one well has penetrated the Cretaceous Brown Mt. Sand within the seismic shoot area in 1942. This well had significant untested gas shows in the Brown Mt. Sand from 11,455 feet to bottom. Originally drilled for oil, the off-scale gas shows at the bottom of the well were not tested and the well was abandoned due to a lack of natural gas market during World War II. Four-way closure can be observed within the prospect area where the Brown Mt. Sand is up to 400 feet thick.
ABOUT FAIRCHILD INTERNATIONAL
Fairchild International Corporation is a fully-reporting U.S. publicly-listed company. Besides the California gas project known as the Coalinga Nose Property, it has a major mineral exploration project comprising more than 300,000-acres in the Canadian province of Manitoba. The company's holdings are located in northeastern Manitoba where one of the world's richest nickel deposits was discovered by International Nickel Ltd. and where major mining companies such as DeBeers, BHP, Kennecott and Falconbridge are actively exploring for diamonds, nickel and Platinum Group Metals.
Website: http://www.fairchildinternational.com
E-mail: ir@fairchildinternational.com Toll Free - 1-888-864-7372
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the Company. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by Fairchild may differ materially from these statements due to a number of factors. Fairchild assumes no obligation to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and full understand all risks before making investment decisions.
MAKE YOUR OPINION COUNT - Click Here http://tbutton.prnewswire.com/prn/11690X37518305
SOURCE Fairchild International Corporation
/CONTACT: Fairchild International Corporation, +1-888-864-7372,
ir@fairchildinternational.com/
/Website: http://www.fairchildinternational.com/
Shao, ez, rpt and all. Good job posting today. Very informative. Thanks for the information on stocks I'm following. I work long days on Monday and Tuesday and like the recaps. Prosperity to all and peace. :)
2desire
Solaia Ventures to divest Garvin county interest
Solaia Ventures Inc SAV
Shares issued 5,997,716 Aug 17 2001 close $.180
Aug 17 2001 4:59:58
Mr. Arndt Roehlig reports
Solaia Ventures, due to the positive initial test results on the Coalinga Nose well No. 1-1, has entered into an agreement to
divest its interest in the Garvin county drilling program. The company received approximately 16-per-cent return on its
investment in the Garvin county project. Proceeds and resources will now focus on the Coalinga Nose well No. 1-1 and
anticipated secondary wells on the Coalinga Nose prospect area.
"Our summer drilling plan was to provide a well-balanced program of risk and reward, until such time that the high risk
associated with the Coalinga Nose could be reduced by information that supported the 3-D seismic and geological reports
conducted previous to the drilling operations. Based on the initial testing, we will focus our resources on the completion of
well 1-1 and the drilling of anticipated secondary wells on the Coalinga Nose prospect area," stated company director,
Arndt Roehlig.
Hot Stock tip!
http://hammer.prohosting.com/~hotpicks/index.html
2desire
Thank you! eom.
2desire
Yes, Would you bring up FRCD and MSEV? I wanted to send them to a friend. Thank you. :)
2desire
Josh,
Can you update your ibox to include the latest dd links you added? TIA. I'd have to go through too many posts to find what I want. LOL. Just lazy. Ha!
2desire
GoodMorning Archie's Corner!
2desire
I hear ya there ez!! I've used it a couple of times myself. LOL. Looks like we have something w/ Coalinga. This will be getting very exciting! Good Luck to you.
2desire
GM ez and all! :)
2desire
repost from RB
By: jazzydad $$$
Reply To: None Wednesday, 15 Aug 2001 at 9:12 PM EDT
Post # of 8102
Great day today!! Now that we have the little .06 cent sell off out of the way. Good
resistance at .40. We closed at .48 yesterday
Monday .36 and Friday aug 10 was .30. a small sell off is to be expected on a stock
that has had this many up days in two weeks. The low was .38 gapped up to .42
at the close. Remember the rule buy when others are selling . We Bought more today.
The chart on this stock is still one of the most bullish I have seen in a long time.
Fear will cost $$$$. Never trade on emotion. Plan what you are going to do
ahead of time. If you were going to sell today on the early run that would of been
a good decision. But if you sold as the stock began to fall because of fear you made
a mistake especially if sold below what you paid for the stock.
With all the news and posting fact by the longs here and the charting facts one should of been buying on the BIG .06 dip LOL
I hope if you did sell early in the day you had the foresight to buy back before
the
close.
We go up EMHO
Take a look at the charting on FRCD and you tell me this is not a bull run headed
for a 1 dollar plus. The chart tells it all even a novice can see the stack of white
candles heading up.
or the RSI not only above 50 but at 70!!!
The tremendous buying volume.(all Black)
The PPO breaking 0 and at .25!! WoW
Jazzy
Is every one as excited about this as we are?
http://stockcharts.com/def/servlet/SC.web?c=frcd,uu[l,a]waclyimy[df][pb10!b18!b50!h.02,.20!f][vc60][...
Olympic's Coalinga No. 1 well enters Brown Mt. Sand
Olympic Resources Ltd ORL
Shares issued 12,214,378 Aug 14 close $0.81
Wed 15 Aug 2001 News Release
Mr. Daryl Pollock reports
Drilling operations are progressing rapidly on the Olympic Coalinga No. 1
gas well located in Fresno county, California. At 10,812 feet, the well had
reached its primary target, the Brown Mountain Sand, and the well has
penetrated down to 11,080. The top responded with a very significant gas
show of 1,200 units and cumulative drilling breaks have been encountered
totalling 115 feet to date. Current drilling operations are five to 10 feet
per hour with drilling breaks at 30 to 60 feet per hour. All drill breaks
have gas shows within high-quality sands. The current bit is about worn out
so it is proposed that total depth be called at 11,100 feet. Given the
amount of encouraging gas shows to date, the company believes it prudent to
log down to this level. If the well appears commercial to the bottom, the
well can be ran back in with a new bit and drilled down to the bottom of
the potential pay zone. Logging operations are expected to begin by Friday
morning. The mud weights are currently at 14 ppg to maintain background gas
at an acceptable level.
Olympic currently holds a 20.5-per-cent working interest which results in a
17.5-per-cent net revenue interest before payout and a 14.5-per-cent net
revenue interest after payout. The Coalinga Nose prospect consists of 5,000
acres of leased land and is located less than one mile southeast of the
East Coalinga extension which has produced 503 million barrels of oil. The
prospect is also less than one mile northwest of the Kettleman Hills field
which has produced 2.9 trillion cubic feet and 458 million barrels of oil.
"We are extremely pleased at how close these drilling operations have
correlated to the 1942 Lytle No. 68-28 well which was drilled some 2,000
metres south. This gives us great confidence in the geologic models and 3-D
seismic data that have been developed in planning this project," says Daryl
Pollock, president and chief executive officer of Olympic.
The well has drilled through the Moreno formation, a secondary target about
800 feet thick. The Moreno formation consists of shales with interbedded
sands lying above the Cretaceous Brown Mt. Sand. Upon entering the
formation, gas kicks were immediately encountered at 9,600 feet with
associated rapid drilling rates. Total sand thickness in this secondary
target is 56 feet with 71 feet of total gas shows. Drilling breaks at
10,030 to 10,036 (540 gas units) and 10,050 to 10,055 (95 gas units) were
encountered with live fluorescent oil shows. Background gas currently
varies from 50 to 80 units. These gas shows will be investigated for their
potential commercial value as the Moreno formation is relatively
underexplored. The zones encountered to date correlate to an offset well
drilled in 1942 over one mile to the southeast which indicate the company
is structurally 600 feet high to this offset well.
To date, $2-million (U.S.) has been spent on the land including a 3-D
seismic survey shot in 1997 covering 16 square miles including the prospect
area. According to consulting engineer, Mark Anderson, this is a "superior
prospect based on a quality modern 3-D seismic grid, abundant and
thoroughly mapped well control," and "both production and down dip shows in
the target horizon." The 3-D seismic data "clearly corroborates existing
production from known stratigraphic and structural features," from the
Cretaceous Brown Mt. Formation which is largely untested in this area. Only
one well has penetrated the Cretaceous Brown Mt. Sand within the seismic
shoot area in 1942. This well had significant untested gas shows in the
Brown Mt. Sand from 11,455 feet to bottom. Originally drilled for oil, the
off-scale gas shows at the bottom of the well were not rested and the well
was abandoned due to a lack of natural gas market during World War II.
Four-way closure can be observed within the prospect area where the Brown
Mt. Sand is up to 400 feet thick.
PR's re: Coalinga project from one of the partners in the joint venture w/ MSEV and FRCD. Repost of link from RB.
http://www.goldwaterresources.com/newpage7.htm#First
Thank you Ray, that means alot coming from you. Just want my friends to make as much money as they can. :) This kind of opportunity comes around once in a life-time. Happy Trading! Keep close watch on all issues involved this week. Keep in mind those on CDNX do not get the action that the OTCBB gets here in America. No less deserving of it. Canadians just don't spend money like we do. I know. I used to work for tips. That was a joke. No one get offended. Ha! Have a great day board!
2desire
yes they do. Many of the posters, ez, are playing all 3. Here is the link for orl.v. They are awaiting listing on the OTCBB any week now. On the pinks here until then. ORLYF. Here is their company website. They have even more projects going on.
http://www.orlresources.com/
Good Luck ez! Sounds like you bought one of them. :)
2desire
Okay guys The Coalinga nose project has less than 1000 ft. to go. Could hit as early as Wednesday. Then >>>>>>>>>>>>to the moon Alice!!! lol. No hype. Just excited. Do your dd. Josh on the OTCDD board has the dd links.
2desire
Okay guys The Coalinga nose project has less than 1000 ft. to go. Could hit as early as Wednesday. Then >>>>>>>>>>>>to the moon Alice!!! lol. No hype. Just excited. Do your dd. Josh on the OTCDD board has the dd links.
2desire
MSEV up today @.38, FRCD up today @.36. Both .06+!
PR today from FGD. Also a partner in the coalinga nose project!
From First Gold today:
FIRST GOLDWATER RESOURCES INC.
Suite 910 - 688 West Hastings Street
Vancouver, BC V6B 1T1
Telephone: (604) 692-3230
Facsimile: (604) 632-9849
August 13, 2001 Trading Symbol: CDNX: FGD
CONTINUED SIGNIFICANT GAS SHOWS ENCOUNTERED
First Goldwater Resources Inc. (the "Company") is pleased to announce that
drilling on the Coalinga Nose 1-1 Well is at approximately 10,500 feet
drilling towards the target depth of 11,500 feet. Surface casing was set and
cemented to a depth of 2,622 feet and blow out preventors were installed and
then approved by the California Division of Oil and Gas. The Company has a
10% working interest in this Well.
Significant gas shows, background gas and oil bearing sand were encountered.
Gas units encountered so far have gone as high as just over 3,000 units.
The geological profile as projected prior to drilling is currently on
target. The Well is now expected to penetrate the target horizon of the
Brown Mt. Sand at approximately 10,800 feet.
The Coalinga Prospect is a parcel of 8,730 acres of leased land located in
Fresno County, California, and is located less than one mile southeast of
the East Coalinga extension which has produced 503 million barrels of oil.
The prospect is also less than one mile northwest of the Kettleman Hills
field that has produced 2.9 trillion cubic feet and 458 million barrels of
oil.
Over $3,000,000 has been spent on the prospect including a 3-D seismic
survey shot in 1997 covering 16 square miles including the prospect area.
According to consulting engineer, Mark Anderson, this is a "superior
prospect based on a quality modern 3-D seismic grid, abundant and thoroughly
mapped well control" and "both production and downdip shows in the target
horizon." Mr. Anderson also stated that the 3-D seismic data "clearly
corroborates existing production from known stratigraphic and structural
features" from the Cretaceous Brown Mt. formation that is largely untested
in this area.
Only one well has penetrated the Cretaceous Brown Mt. sand within the
seismic shoot area and that was drilled in 1942. This well had significant
untested gas shows in the Brown Mt. sand from 11,455 feet to bottom.
Originally drilled for oil, the off-scale gas shows at the bottom of the
well were not tested and the well was abandoned due to a lack of natural gas
market during World War II. Four-way closure can be observed within the
prospect area where the Brown Mt. sand is up to 400 feet thick. This
prospect is being tested with an 11,500-foot well located one mile to the
northwest and 500 feet up dip of the 1942 well within the best amplitude
response for this fault block.
Contact Information:
Jason Gigliotti
Tel: (604) 692-3232
Toll Free: 1-866-692-3230
www.goldwaterresources.com
BY ORDER OF THE BOARD OF DIRECTORS
I see the potential in dollar$ IMHO. News release today by FGD who is also a partner in the venture ez.
From First Gold today:
FIRST GOLDWATER RESOURCES INC.
Suite 910 - 688 West Hastings Street
Vancouver, BC V6B 1T1
Telephone: (604) 692-3230
Facsimile: (604) 632-9849
August 13, 2001 Trading Symbol: CDNX: FGD
CONTINUED SIGNIFICANT GAS SHOWS ENCOUNTERED
First Goldwater Resources Inc. (the "Company") is pleased to announce that
drilling on the Coalinga Nose 1-1 Well is at approximately 10,500 feet
drilling towards the target depth of 11,500 feet. Surface casing was set and
cemented to a depth of 2,622 feet and blow out preventors were installed and
then approved by the California Division of Oil and Gas. The Company has a
10% working interest in this Well.
Significant gas shows, background gas and oil bearing sand were encountered.
Gas units encountered so far have gone as high as just over 3,000 units.
The geological profile as projected prior to drilling is currently on
target. The Well is now expected to penetrate the target horizon of the
Brown Mt. Sand at approximately 10,800 feet.
The Coalinga Prospect is a parcel of 8,730 acres of leased land located in
Fresno County, California, and is located less than one mile southeast of
the East Coalinga extension which has produced 503 million barrels of oil.
The prospect is also less than one mile northwest of the Kettleman Hills
field that has produced 2.9 trillion cubic feet and 458 million barrels of
oil.
Over $3,000,000 has been spent on the prospect including a 3-D seismic
survey shot in 1997 covering 16 square miles including the prospect area.
According to consulting engineer, Mark Anderson, this is a "superior
prospect based on a quality modern 3-D seismic grid, abundant and thoroughly
mapped well control" and "both production and downdip shows in the target
horizon." Mr. Anderson also stated that the 3-D seismic data "clearly
corroborates existing production from known stratigraphic and structural
features" from the Cretaceous Brown Mt. formation that is largely untested
in this area.
Only one well has penetrated the Cretaceous Brown Mt. sand within the
seismic shoot area and that was drilled in 1942. This well had significant
untested gas shows in the Brown Mt. sand from 11,455 feet to bottom.
Originally drilled for oil, the off-scale gas shows at the bottom of the
well were not tested and the well was abandoned due to a lack of natural gas
market during World War II. Four-way closure can be observed within the
prospect area where the Brown Mt. sand is up to 400 feet thick. This
prospect is being tested with an 11,500-foot well located one mile to the
northwest and 500 feet up dip of the 1942 well within the best amplitude
response for this fault block.
Contact Information:
Jason Gigliotti
Tel: (604) 692-3232
Toll Free: 1-866-692-3230
www.goldwaterresources.com
BY ORDER OF THE BOARD OF DIRECTORS
MSEV closed up @.38 and FRCD closed up @.36. Both issues up .06! There still may be time to get in for those who were interested.
b/r 2desire
thanks for bringing that over bobky! That's great news along w/ the pr they had today! By the way its KyGal63 on RB. I have a different handle here. lol.
2desire
ST. MARYS, W.Va., Aug 13, 2001 /PRNewswire via COMTEX/ -- Tyler Construction Company, Inc., a subsidiary of Trans Energy, Inc., (OTC Bulletin Board: TSRG) has entered into a gas transportation agreement with Texas Keystone, Inc. of Pittsburgh, PA. Under terms of the Agreement, Tyler Construction Company, Inc. will transport natural gas developed in the future by Texas Keystone, Inc. in an area served by Tyler Construction Company's 6" pipeline in Tyler and Pleasant Counties, West Virginia. Development of the acreage in question by Texas Keystone is expected to commence on or before the 4th Quarter of 2001. The term of the Agreement is for ten (10) years.
Trans Energy, Inc. intends to focus its attention on the development, transportation and marketing of gas in the Appalachian Basin.
This press release contains certain "forward looking statements" which represent Trans Energy's expectations or beliefs, including, but not limited to, statements concerning Trans Energy's operations, performance, financial condition, plans, growth and strategies. Any statements contained in this press release which are not statements of historical fact may be deemed to be forward looking statements. Without limiting the generality of the foregoing, words such as "may," "will," "expect," "anticipate," "intend," could," "estimate," or "continue" or the negative or other variations or comparable terminology are intended to identify forward looking statements. Forward looking statements by their nature involve substantial risks and uncertainties, certain of which are beyond Trans Energy's control, and actual results may differ materially depending on a variety of important factors, many of which are beyond Trans Energy's control.
Thank you spacefrog and welcome to the board! That's great news! At least we know they intend to be in business the next 10 years!
b/r 2desire
RE: Land where drilling is taking place (Coalinga nose)
UNDEREXPLORED! Read the Moreno is a relative new VIRGIN field.
The well is currently drilling through the Moreno Formation, a secondary target expected to be about 800 feet thick. The Moreno Formation consists of shales with interbedded sands lying above the Cretaceous Brown Mt. Sand. Upon entering the Formation, gas kicks were immediately encountered at 9,600 feet with associated rapid drilling rates. Mud weights were increased from 12.0 pounds per gallon to 13.3 pounds per gallon raising hydrostatic pressure to 6,900 psi. Total sand thickness in this secondary target is 45 feet with 60 feet of total gas shows. These gas shows will be investigated for their potential commercial value as the Moreno Formation is relatively underexplored.
RE: Land where drilling is taking place (Coalinga nose)
UNDEREXPLORED! Read the Moreno is a relative new VIRGIN field.
The well is currently drilling through the Moreno Formation, a secondary target expected to be about 800 feet thick. The Moreno Formation consists of shales with interbedded sands lying above the Cretaceous Brown Mt. Sand. Upon entering the Formation, gas kicks were immediately encountered at 9,600 feet with associated rapid drilling rates. Mud weights were increased from 12.0 pounds per gallon to 13.3 pounds per gallon raising hydrostatic pressure to 6,900 psi. Total sand thickness in this secondary target is 45 feet with 60 feet of total gas shows. These gas shows will be investigated for their potential commercial value as the Moreno Formation is relatively >b>underexplored.
That is a pretty picture Arch! So that's what a good wave looks like. Ha! Thanks for sharing. Will do some dd on it.
2desire
MACH
I agree. I posted about that one last Thursday or Friday. Looks like its in accumulation to me too. It's getting ready to pop and my guess by looking at the chart over the last year it could reach .08. Smallcapcenter.com has a great interactive chart. You should try it. Gives you a good feel for the stock.
Look for 80%-100% return on this one. IMHO.
b/r 2desire
Muelhead,
This post makes since and bodes well for all gas exploration.
Drillbit- I was reading about this situation last night- Alot of the big ng producers -in order to take advantage of last years high ng prices- worked overtime trying to produce ng from the mature wells-My understanding is they call this "blowdown." As a result these big producers were depleting ng supplies even faster than normal-which bodes well for future prices.Thanks for all your info-Mohr
b/r 2desire
LOL! Good one Mach!
KyGal63