Transeuro Energy-Armenia-Update

NOVEMBER 23, 2005
CCNMatthews

[...]
The Company has designed and completed a data room with the goal to collect information to prepare for drilling exploration wells on two known plays, the Oktemberian gas and Shorakpour oil prospects. [...].

Transeuro has identified 10 drilling targets in the Kamir (formerly known as Oktemberian) region 65 kilometers south-west of Yerevan and 2 drilling targets in Shorakhpur region 15 kilometers east of Yerevan. The Company will pursue farm-in opportunities for participation in drilling these targets.

[...] The Company has [...] determined the amount of possible hydrocarbon pay in each well, examined the potential to re-enter and work over some of the old wells. A preliminary [...] report confirms the presence of gas pay in the Kamir wells and oil pay in the Shorakhpur wells.
[...]

Note: Above are excerpts from the article. The full article appears here. Clarifications and comments by me are contained in {}. Deletions are marked by [...]. The bold emphasis is mine.