Transeuro Energy Corp.: Armenia Drilling Update
Dec 18, 2007 00:15 ET
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 18, 2007) - Transeuro Energy Corp. ("Transeuro", or the "Company") (TSX VENTURE:TSU)(OSLO:TSU) reported today on the drilling of the Kamir 1 well in Armenia. The Kamir 1 is located 65 kilometers west of Yerevan, not far from the Turkish border.
Karmir 1 was drilled to the programmed total depth of 2,346m. A potential hydrocarbon gas zone was encountered between 950m and 1,150m with elevated values of methane, ethane, propane and butane identified on the mud log. Elevated gas levels were also intersected below 2,300m but only contained carbon dioxide.
The forward plan is to plug back the deeper zone, run wire line logs and based on these results test the hydrocarbon potential of the shallow zone.
Subject to a successful test, a distribution and marketing network of pipelines for a fast and economical way to monetize the potential discovery is present within 3km. Armenia is a net importer of natural gas, imports were 1.685 billion cubic meter in 2005.
Transeuro Energy Corp. is involved in the acquisition of petroleum and natural gas rights, the exploration for, and development and production of crude oil, condensate and natural gas. The Company's properties are located in Canada, Armenia and Ukraine.
On behalf of the Board of Directors
Harold Hemmerich, President and CEO
This press release does not constitute an offer to sell or solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to a U.S. Person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.
Barrel of oil equivalent ("boe") amounts may be misleading, particularly if used in isolation. A boe conversion ratio has been calculated using a conversion rate of six thousand cubic feet of natural gas to one barrel and is based on an energy equivalent conversion method application at the burner tip and does not necessarily represent an economic value equivalent at the wellhead.
The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy or accuracy of the content of this news release.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 18, 2007) - Transeuro Energy Corp. ("Transeuro", or the "Company") (TSX VENTURE:TSU)(OSLO:TSU) reported today on the drilling of the Kamir 1 well in Armenia. The Kamir 1 is located 65 kilometers west of Yerevan, not far from the Turkish border.
Karmir 1 was drilled to the programmed total depth of 2,346m. A potential hydrocarbon gas zone was encountered between 950m and 1,150m with elevated values of methane, ethane, propane and butane identified on the mud log. Elevated gas levels were also intersected below 2,300m but only contained carbon dioxide.
The forward plan is to plug back the deeper zone, run wire line logs and based on these results test the hydrocarbon potential of the shallow zone.
Subject to a successful test, a distribution and marketing network of pipelines for a fast and economical way to monetize the potential discovery is present within 3km. Armenia is a net importer of natural gas, imports were 1.685 billion cubic meter in 2005.
Transeuro Energy Corp. is involved in the acquisition of petroleum and natural gas rights, the exploration for, and development and production of crude oil, condensate and natural gas. The Company's properties are located in Canada, Armenia and Ukraine.
On behalf of the Board of Directors
Harold Hemmerich, President and CEO
This press release does not constitute an offer to sell or solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to a U.S. Person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.
Barrel of oil equivalent ("boe") amounts may be misleading, particularly if used in isolation. A boe conversion ratio has been calculated using a conversion rate of six thousand cubic feet of natural gas to one barrel and is based on an energy equivalent conversion method application at the burner tip and does not necessarily represent an economic value equivalent at the wellhead.
The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy or accuracy of the content of this news release.
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.
Labels: Armenia - Energy
posted by Vahe Balabanian at 11:38 AM
1 Comments:
Great News shaping up here...natural gas here means less dependance from elsewhere.
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