Transglobal Energy Resources AG
TRANSGLOBAL ENERGY RESOURCES COMMENCE DRILLING # TWO WELL FOLLOWING THE SUCCESS OF # ONE WELL
Transglobal Energy Resources AG / Miscellaneous Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- PRESS RELEASE February 9, 2009 TRANSGLOBAL ENERGY RESOURCES COMMENCE DRILLING # TWO WELL FOLLOWING THE SUCCESS OF # ONE WELL Zurich,Switzerland February 9, 2009 TransGlobal Energy Resources AG (FRT/XETRA:B98) B. Kennedy, CEO said: ' With the careful review of the Palo Pinto zone in our lease areas, each of the older wells we identified had produced from the prolific 4,300 ft or 1,303 meters have an oil and gas structure that covers an area of about 1/2mile or 807 meters in diameter. Our Number Two drilling location has been selected as an offset to an older well that previously tested at 140 barrels of oil per day and produced 40,000 barrels of oil in six months. This is an established history for us to blueprint. Our progressive development is made possible by our strong management team who utilize enhanced secondary recovery (ESR) methods which include 3D seismic, structure geology and geophysics. We are confident the series of the 6 wells we have announced will follow this successfully.' TransGlobal Energy Resources AG is a Swiss Based holding company engaged in Enhanced Secondary Recovery (ESR) of Oil and Gas in North America through its 100% owned subsidiary TransGlobal Energy Resources Inc., with offices and operation in Dallas, Texas USA, Calgary and Whitby Canada and Zurich, Switzerland. Through the deployment of ESR, TransGlobal’s mission is to capture the value of Oil and Gas reserves that were previously discovered but not fully produced and left behind. For further information Contact:http://www.transglobalenergyresources.com Vinetta Makkreel, President, PR North America Information presented in the Press Release constitutes neither an offer to buy or sell securities and contain 'forward looking statements' within the meaning of Section 27A of the US Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any Statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be 'forward looking statements.' 09.02.2009 Financial News transmitted by DGAP ----------------------------------------------------------------------
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