Crazy PUMPING/dumping TSU 2008And now says OSLO is a disadvantage
Article Excerpt
M2 PRESSWIRE-27 May 2008-Stockhouse.com: Energy company's stock jumps on drilling results; Oil and gas company's Ukraine well has Stockhouse members talking(C)1994-2008 M2 COMMUNICATIONS LTD
RDATE:27052008
New York -- Stockhouse reports in energy news yesterday, shares of Transeuro Energy Corp. (TSX-V: TSU) hit a 52-week high of 64 cents, before retreating to 49 cents at the close. The 12 cent (32.4%) increase came on volume of more than nine million shares.
The Vancouver-based global oil and gas company announced Monday that its Karlavskoye 101 ("Karl 101") well in Ukraine has been drilled to a depth of 3,480 meters with continued gas shows, and has intersected the C15 reservoir interval. A downhole surge test is currently being performed to confirm fluid type. Thus far gas has been produced to surface from the well. Photos are on
www.transeuroenergy.com.
From the news release:
"The C15 is the fifth reservoir interval intersected by the Karl 101 well with up to three more reservoir intervals still to be drilled. The top interval, the Turonian was found at 2,940m, the C12 at 3,100m, C13 at 3,216m, C14 at 3,380m, and C15 at 3,435m. The first downhole surge test with the well at 3,314m produced gas to surface from the Turonian, C12 and C13 intervals. Gas shows have been seen in each reservoir, and logs obtained over each interval indicate a gross gas-bearing interval to date of 540 meters.
"Following completion of the surge test the company plans to continue drilling to the base of the next reservoir target interval, the C16 at approximately 3,550m, and plans to conduct an openhole flowtest in order to further evaluate the reservoirs and the commerciality of the well.
"The 'discovered resources' attributed to the Karlavskoye field by Fekete Associates Inc. under the Canadian 51-101 reserves reporting standards has increased to a mean estimate of 474 billion cubic feet of gas (85 million BOE). Under the terms of the Joint Activity Agreement with the local government partner 'Crymgeologiya', Transeuro has 72% of the profits from the development of the Karlavskoye field. Upon closing of the JVA with RAG (www.rohoel.at) of Austria, Transeuro will hold 36% and RAG 36% of the profits."
On Friday, Stockhouse member "crazyinvestor" noted on the TSU Stockhouse Bullboard message board that shares had closed up 35% on Oslo's Axess exchange.
"The s/p on the venture in most cases follows their pattern," he or she noted. "Huge potential here!"