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January 08, 2008
Drilling Update in Ukraine and Armenia
January 8th, 2008 TSX-V/ Oslo Axess: TSU
Vancouver, Canada: - Transeuro Energy Corp. ("Transeuro", or the
"Company") is pleased to announce updates on our drilling operations
in Ukraine and Armenia.
In Ukraine, the intermediate section of the Karlavskoye 101 well
("Karl-101") has been successfully drilled to a depth of 2934m and the
rig is preparing to run casing prior to drilling the main
section. Significant gas shows were identified in the intermediate
section with up to 11% gas by volume in the drilling fluid. The well
is expected to encounter the Turonian formation at a depth of around
3000m which has the potential to be oil bearing, followed by the 5
primary target intervals of the Cenomain formation which are expected
from 3200m to the planned total well depth of around 4200m.
Also in Ukraine, the Company has commenced construction of the rigsite
to drill the Povorotnoye 104 well ("Pov-104") in East Crimea on the
Kerch Peninsula. The Company expects to spud the well in the first
half of 2008. The well is targeting the Maykop III and Maykop IV
reservoirs which are anticipated at a depth of 3900m. Two adjacent old
wells #1 and #2 drilled on the Povorotnoye field reported gas test
rates of 5 million cubic feet per day ("mmscf/d") and 17 mmscf/d
respectively. These wells are located some 500m either side of the
planned Pov-104 well location. The field is located within 3km of the
main gas line in Eastern Crimea which was completed in early
2002. Licensing of the land to build a gas processing plant is
underway.
In Armenia, the Company has suspended operations on the Karmir 1 well
following logging operations. The logs indicated low gas
saturations. No testing operations are planned at this time and the
Company is running casing and suspending the well. Additional logging
and evaluation will be planned for later in 2008 to reassess the gas
saturations and decide if the well will be completed or abandoned.
David Worrall, Chief Operating Officer, commented "The drilling
results to date in Ukraine are encouraging as the 9 old wells in the
Karlavskoye field that were drilled from the 1960's to the 1980's also
encountered gas in the intermediate section and all went on to produce
gas to surface from the main targets, making Karl-101 more of a
development/appraisal well than a conventional exploration
project. Seeing the gas at this location gives us yet more confidence
that the main target reservoirs will contain commercial hydrocarbons."
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, Ukraine and in Papua New
Guinea through majority ownership in Eaglewood Energy Inc.
On behalf of the Board of Directors
"Harold Hemmerich" President and CEO
For further information contact:
David Parry
+1 (604) 681 3939 Phone
http://www.transeuroenergy.com
From: Emil Lazarian | Ararat NewsPress
Drilling Update in Ukraine and Armenia
January 8th, 2008 TSX-V/ Oslo Axess: TSU
Vancouver, Canada: - Transeuro Energy Corp. ("Transeuro", or the
"Company") is pleased to announce updates on our drilling operations
in Ukraine and Armenia.
In Ukraine, the intermediate section of the Karlavskoye 101 well
("Karl-101") has been successfully drilled to a depth of 2934m and the
rig is preparing to run casing prior to drilling the main
section. Significant gas shows were identified in the intermediate
section with up to 11% gas by volume in the drilling fluid. The well
is expected to encounter the Turonian formation at a depth of around
3000m which has the potential to be oil bearing, followed by the 5
primary target intervals of the Cenomain formation which are expected
from 3200m to the planned total well depth of around 4200m.
Also in Ukraine, the Company has commenced construction of the rigsite
to drill the Povorotnoye 104 well ("Pov-104") in East Crimea on the
Kerch Peninsula. The Company expects to spud the well in the first
half of 2008. The well is targeting the Maykop III and Maykop IV
reservoirs which are anticipated at a depth of 3900m. Two adjacent old
wells #1 and #2 drilled on the Povorotnoye field reported gas test
rates of 5 million cubic feet per day ("mmscf/d") and 17 mmscf/d
respectively. These wells are located some 500m either side of the
planned Pov-104 well location. The field is located within 3km of the
main gas line in Eastern Crimea which was completed in early
2002. Licensing of the land to build a gas processing plant is
underway.
In Armenia, the Company has suspended operations on the Karmir 1 well
following logging operations. The logs indicated low gas
saturations. No testing operations are planned at this time and the
Company is running casing and suspending the well. Additional logging
and evaluation will be planned for later in 2008 to reassess the gas
saturations and decide if the well will be completed or abandoned.
David Worrall, Chief Operating Officer, commented "The drilling
results to date in Ukraine are encouraging as the 9 old wells in the
Karlavskoye field that were drilled from the 1960's to the 1980's also
encountered gas in the intermediate section and all went on to produce
gas to surface from the main targets, making Karl-101 more of a
development/appraisal well than a conventional exploration
project. Seeing the gas at this location gives us yet more confidence
that the main target reservoirs will contain commercial hydrocarbons."
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, Ukraine and in Papua New
Guinea through majority ownership in Eaglewood Energy Inc.
On behalf of the Board of Directors
"Harold Hemmerich" President and CEO
For further information contact:
David Parry
+1 (604) 681 3939 Phone
http://www.transeuroenergy.com
From: Emil Lazarian | Ararat NewsPress