Trans Energy, Inc. Announces Estimated First Quarter 2005 Results ST. MARYS, W.Va., June 21 /PRNewswire-FirstCall/ -- Trans Energy, Inc. (OTC:TENG) (BULLETIN BOARD: TENG) today reported estimated first quarter 2005 results. Consolidated revenues for the first quarter of 2005 were $2,550,540, an increase of $1,970,810 over the $579,730 reported for the same period in 2004. This increase is attributable to several factors, including the acquisitions of Arvilla Oilfield Services in January of 2005 and Cobham Gas Industries in November of 2004, as well as improvement in the price of natural gas and oil. Income from operations improved from a loss of $511,769 in the first quarter of 2004 to a positive income of $17,831. Trans Energy reported an overall net comprehensive loss for the first quarter of 2005 in the amount of $66,488 ($0.02 per share), compared with a loss of $632,913 in the first quarter of 2004 ($0.32 per share). Also on the positive side, stockholders' equity in the Company improved from a deficit of $1,169,886 as of December 31, 2004 to a positive $1,180,373 as of March 31, 2005. Trans Energy Chairman, Clarence E. Smith, said he "expected production and revenues from existing wells to continue improving in the near term as more natural gas wells are rehabilitated and connected to transmissions lines, and new exploration efforts are brought online. I am pleased with the improvement in operations, and look forward to the impact the plans on the drawing board will have on overall operations during the remainder of the year." Oilfield services operations were a leading contributor to the financial results of Trans Energy in the first quarter of 2005, even though Arvilla Oilfield Services was not acquired until January 31, 2005. Despite its late start, revenues from well servicing during the last two months of the period were $1,798,607 and operating income for this segment of Trans Energy operations were $245,843. Mr. Smith credited "the hard work and dedication of Rebecca L. Smith, Vice President-Oilfield Services Operations, as well as the employees of Arvilla Oilfield Services, for the performance the segment." Statements in this release relating to future plans, projections, events, or conditions are forward looking statements. Actual results, including production growth and capital spending, could differ materially due to changes in market conditions affecting the oil and natural gas industry or long-term oil and natural gas prices; political events or disturbances; reservoir performance; changes in OPEC quotas; completion of development projects; changes in technical or operating conditions; and other factors discussed in Trans Energy's 2004 10K. We assume no duty to update these statements at any future date. DATASOURCE: Trans Energy, Inc. CONTACT: Clarence E. Smith, Chairman of Trans Energy, Inc., +1-304-665-2652

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