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Re: News Releases - Tuesday, October 02, 2012
NEWS RELEASE -- KARL-101 OPERATIONS UPDATE
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Calgary, Canada: - Transeuro Energy Corp. ("Transeuro" or the
"Company") announces that the Company has secured approval from its
government partner for the follow on operations programme on the
Karl-101 well and has mobilised equipment to arrive on location in
approximately 2 weeks.
Following the previous announcement on 24th July the government partner
to the Joint Activity Agreement for the Karlavskoye field requested a
series of technical meetings that subsequently resulted in a review of
the operations conducted on the Karl-101 well to date and the equipment
and methods used for the multi-stage fracturing and then on to a
description of the Cenomanian reservoirs derived from the data. The
main issue was the unsuccessful attempts to close the C13 frackport to
shut off water production of up to 1500 barrels per day and to prevent
cross flow between the open intervals. The partners have now concluded
the reviews and have agreed the programme to restart well operations
that will include restoring gas production from the C16 interval that
was previously recorded at a non stabilised rate of around 50,000m3/day
and further attempts to close the C13 frackport.
ABOUT THE COMPANY
Transeuro 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 owns 100% of a gas
producing property located in British Columbia, Canada and has interest
in gas exploration and appraisal developments in Crimea, Ukraine.
On behalf of the Board of Directors
Aage Thoen, Chairman
For further information contact:
Darren Moulds, IR, +1 403 705
1919
Karen Jenssen, IR, +47 91729787
http://www.transeuroenergy.com
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
nor the Oslo Axess accepts responsibility for the adequacy or accuracy
of this release. 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.
This press release contains "forward-looking information" which may
include, but is not limited to, statements with respect to our
operations. Such forward-looking statements reflect our current views
with respect to future events and are subject to certain risks,
uncertainties and assumptions. See our Annual Information Form for a
description of risks and uncertainties relevant to our business,
including our exploration and development activities. Test production
rates may vary from sustained production rates when developing a well
or a deposit. The commerciality of any discovery can be affected by
many factors including product prices, operating costs, capital costs,
government take and sustained production levels and ultimate recovery
of hydrocarbons. Hydrocarbon indications from drilling or wireline log
data do not necessarily mean that mobile hydrocarbons are present in
the formation or can be produced.
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Copyright (c) 2012 TRANSEURO ENERGY CORP. (TSU) All rights reserved.
For more information visit our website at
http://www.transeuroenergy.com/ or send mailto:info@transeuroenergy.com
Message sent on Tue Oct 2, 2012 at 6:26:25 AM Pacific Time
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Transeuro Energy Corp.
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CODE : TSU.V |
ISIN : 8936511093 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Transeuro Energy is a and oil exploration company based in Canada. Transeuro Energy holds various exploration projects in Armenia, in Canada, in Papua New Guinea and in Ukraine. Its main exploration properties are BEAVER-RIVER in Canada, CRIMEA in Ukraine and BLOCK 2 in Armenia. Transeuro Energy is listed in Canada and in United States of America. Its market capitalisation is CA$ 6.9 millions as of today (US$ 6.2 millions, € 4.9 millions). Its stock quote reached its highest recent level on August 05, 2005 at CA$ 3.20, and its lowest recent point on May 09, 2014 at CA$ 0.02. Transeuro Energy has 345 230 016 shares outstanding. |