Trans Energy Inc. (fka TENG)

[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.

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SOURCE Trans Energy, Inc.

CONTACT: Trans Energy, Inc., [phone]
(TSRG)