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Re: News Releases - Friday, March 16, 2012
NEWS RELEASE -- UKRAINE OPERATIONS RESUME ON KARL-101
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Calgary, Canada: - Transeuro Energy Corp. ("Transeuro" or the
"Company") announces that the Company has resumed rig operations on the
Karlavskoye-101 well, located onshore West Crimea, Ukraine. The rig
will re-enter the well and drill out the 3 temporary bridge plugs that
were installed to suspend the well in May last year. Down hole
equipment necessary for the hydraulic fracturing operations will then
be installed, including 8 packers and 5 'FracPorts' located across the
C12, C13, C14, C15 and C16 intervals from 3100 meters -- 3500 meters in
depth. Rig operations are expected to take 2 to 3 weeks and the rig
will then be dismantled and moved from the site to make space for the
Schlumberger fracturing pumps and associated equipment.
Pumping operations are likely to occur during April and will create
individual hydraulic "propped" fractures in each of the 5 reservoir
intervals, using 1000m3 of water and placing a total of 300 tons of
synthetic proppant into the reservoirs. These reservoir intervals
flowed a cumulative stable rate of 16,000m3/day and condensate during
testing in 2011. Third party independent report estimates Mean Gas In
Place in these horizons of the Karlavskoye field at 472 Bcf.
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. In
addition, the Company holds a back-in option to Eaglewood Energy Inc.'s
exploration licenses in Papua New Guinea.
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 Fri Mar 16, 2012 at 6:52:04 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. |