UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): September 28, 2006
TRANS ENERGY, INC.
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(Exact name of registrant as specified in its charter)
NEVADA 0-23530 93-0997412
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
210 Second Street, P.O. Box 393, St. Mary's, West Virginia 26170
(Address of principal executive offices)
Registrant's telephone number, including area code: (304) 684-7053
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c)
FORM 8-K
Section 2 - Financial Information
Item 2.01 Completion of Acquisition or Disposition of Assets
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On September 28, 2006, Trans Energy, Inc. completed the acquisition of the
J.B. Dewhurst oil and gas lease, consisting of a 100% working interest and 87.5%
net revenue interest in seven wells located on 2200 acres in Grant District,
Wetzel County, West Virginia. The purchase price for the lease is $800,000 that
was due and paid at the closing.
The lease was acquired from Tom O'Connell, Bay Oil Company, LLC and Beacon
Lombard Corporation. Conveyance of the lease is by good and sufficient general
warranty assignment, free and clear of all liens and encumbrances and includes
the entire working interest, all wells, personal property, fixtures and
improvements located on the lease.
Trans Energy becomes responsible for the plugging and abandoning of the
acquired wells, as necessary, and for any reclamation of the lands after
plugging and abandoning operations are completed. All plugging and abandoning
operations will be done in accordance with the applicable rules and regulations
of the State of West Virginia or other jurisdictional authorities.
Upon effectiveness of the assignment of the lease, all production, revenue,
costs, expenses and other liabilities attributable to the assigned wells
occurring before the effective time will belong to the sellers, and all
production, assets and liabilities occurring after the effective time will
belong to Trans Energy.
Section 9 - Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits
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(c) Exhibits
Exhibit No. Description
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10.1 Assignment and Bill of Sale
Notes about Forward-looking Statements
Statements contained in this Current Report which are not historical facts,
including all statements regarding the consummation of the acquisition of
assets, may be considered "forward-looking statements" under the Private
Securities Litigation Reform Act of 1995. Forward-looking statements are based
on current expectations and the current economic environment. Trans Energy
cautions the reader that such forward-looking statements are not guarantees of
future performance. Unknown risks and uncertainties as well as other
uncontrollable or unknown factors could cause actual results to materially
differ from the results, performance or expectations expressed or implied by
such forward-looking statements.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
TRANS ENERGY, INC.
Date: October 2, 2006 By /S/ WILLIAM F. WOODBURN
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William F. Woodburn
Chief Operating Officer and Director
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