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Re: News Releases - Tuesday, May 29, 2012
NEWS RELEASE -- UKRAINE OPERATIONS UPDATE
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Calgary, Canada: - Transeuro Energy Corp. ("Transeuro" or the
"Company") announces that in Ukraine mobilization of the Schlumberger
fracturing equipment has commenced with the first items scheduled to
arrive on site next week. The Company will provide further updates when
fracking commences, and advises that logistical delays are possible.
Mobilisation of the frack equipment is being coordinated to coincide
with fracking operations for another Operator in Ukraine to share the
cost of importing equipment and personnel. Well operations on Karl-101
resumed last week to fracture the lowest interval with water to
establish the formation fracture gradient as input into the fracturing
design. Water loading will begin this week to store 1300m3 on site in
20 tanks.
The intention is to create individual hydraulic "propped" fractures up
to 100m in length in each of the 5 reservoir intervals 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.
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 May 29, 2012 at 5:18:26 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. |